January 2022 – Lower Mainland Monthly Market Update

January 2022 – Lower Mainland Monthly Market Update

January 2022 – Lower Mainland Monthly Update (REBGV & FVREB)

Sales Break all records in 2021!

The most reliable indicator of market prices is the Sales to Active Listings Ratio (SAL). This is the ratio between the number of sales in a given month and the number of active listings at month-end.

In hotter markets in BC, a long-term analysis has shown that prices will usually act in the following ways:

  • 7+ Months of Inventory (Under 14% SAL): Prices will likely DECLINE
  • 5 – 7 Months of Inventory (14% – 18% SAL): Prices will likely be STABLE
  • Less than 5.5 Months of Inventory (Over 18% SAL): Prices will likely RISE

Visit this link to learn more about house prices and inventory.

Sales

The 4,496 Sales in December is lower than last year (5,179), but is still 30% HIGHER than the 10-year average (3,111).

 

Cumulative Year-to-date Sales

71,752 Sales in 2021 is an ALL-TIME RECORD, beating the previous high of 64,055 (2016) and is over 30% higher than the 10-year average (49,626)

Inventory

Inventory in December reached an ALL-TIME LOW of 7,193 active listings. To put this in perspective, inventory from 2010 – 2014 averaged 25,000 listings.

Sales to Active Listings

At 62.5%, SAL is close to the ALL-TIME HIGH of 63.7% set in March 2016

Months of Inventory

With only 1.6 Months of Inventory, this ties the ALL-TIME LOW in MOI, indicating rising prices moving forward.

Greater Vancouver Real Estate Market Statistics – December 2021

Greater Vancouver Real Estate Market Statistics – December 2021

Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in December 2021.
Find all the infographics by visiting the Facebook Album.

Metro Vancouver* home sales reached an all-time high in 2021 as housing needs remained a top priority for residents in the second year of the COVID-19 pandemic.

“Home has been a focus for residents throughout the pandemic. With low interest rates, increased household savings, more flexible work arrangements, and higher home prices than ever before, Metro Vancouverites, in record numbers, are assessing their housing needs and options,” Keith Stewart, REBGV economist said.

The Board also has informed:

“While steady, home listing activity didn’t keep pace with the record demand we saw throughout 2021. This imbalance caused residential home prices to rise over the past 12 months,” Stewart said.

*Areas covered by the Real Estate Board of Greater Vancouver include Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler. Check out the infographics of Squamish, Sunshine Coast and Whistler, HERE.

Bowen Island

Burnaby East

Burnaby North

Burnaby South

Ladner

Maple Ridge

New Westminster

North Vancouver

Pitt Meadows

Coquitlam

Port Coquitlam

Port Moody

Richmond

Tsawwassen

Vancouver East

Vancouver West

West Vancouver

Looking for more information about the real estate market in specific neighbourhoods in the Greater Vancouver?
Macdonald Realty has offices across the Greater Vancouver.  Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price
Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Real Estate Board of Greater Vancouver (REBGV) www.rebgv.org

Squamish, Whistler and Sunshine Coast Real Estate Market Statistics – December 2021

Squamish, Whistler and Sunshine Coast Real Estate Market Statistics – December 2021

Here are the latest real estate market statistics from Macdonald Realty on Squamish, Whistler, and Sunshine Coast listings and sales in December 2021.

Find all the infographics related to the December Market Statistics by visiting the Facebook Album.

Whistler 

In December 2021, there were 8 sales of detached homes and 30 active listings. The benchmark sale price was $2,615,100.
The condo market had 17 sales and 35 active listings at the end of the month.  The benchmark sale price was $640,100.
The townhome market had 7 sales and, the active listings were 6. The benchmark sale price was $1,349,000.
It’s a Seller’s market in Whistler.

 

Squamish

In December 2021, there were 23 sales of detached homes and 29 active listings. The benchmark sale price was $1,430,400.
The condo market had 15 sales and 7 active listings at the end of the month. The benchmark sale price was $608,100.
The townhome market had 10 sales and, the active listings were 7. The benchmark sale price was $925,100.
It’s a Seller’s Market in Squamish.

 

Sunshine Coast

In December 2021, there were 46 sales of detached homes and 76 active listings. The benchmark sale price was $890,300.
The condo market had 5 sales and 23 active listings at the end of the month.
The townhome market had 6 sales and, the active listings were 13.
It’s a Seller’s market for single family homes and townhomes in Sunshine Coast.

 


Looking for more information about the real estate market in specific neighbourhoods in Squamish, Whistler, and Sunshine Coast? 
Macdonald Realty has offices in Squamish, Whistler, and Sunshine Coast.  Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price
Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Real Estate Board of Greater Vancouver (REBGV) www.rebgv.org

Greater Victoria, Saanich Peninsula, Parksville and Nanaimo Real Estate Market Statistics – December 2021

Greater Victoria, Saanich Peninsula, Parksville and Nanaimo Real Estate Market Statistics – December 2021

Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Saanich Peninsula, Parksville/Qualicum, and Nanaimo listings and sales in December 2021. Find all the infographics related to the November Market Statistics by visiting the Facebook Album.

A total of 438 properties sold in the Victoria Real Estate Board region this December, 30.6 per cent fewer than the 631 properties sold in December 2020 and a 32.9 per cent decrease from November 2021. Sales of condominiums were down 22.1 per cent from December 2020 with 152 units sold. Sales of single family homes decreased 34.1 per cent from December 2020 with 207 sold.

A grand total of 10,052 properties sold over the course of 2021, 18.3 per cent more than the 8,497 that sold in 2020. 2021 sales came in close to 2016’s record breaking sales year where 10,622 properties were sold.

“The theme of this year has been very consistent,” says 2021 Victoria Real Estate Board President David Langlois. “Each month a high demand for homes paired with record low inventory has put strong pressure on pricing and attainability and has made the local and global housing market a top news item and political talking point. We see stories from many countries highlighting the increasing desirability of home ownership in the wake of the pandemic. We leave this year with the lowest number of properties for sale that we have had on record – but with such strong demand that most transactions see multiple offers.”

 

Greater Victoria

Saanich Peninsula

Nanaimo

Parksville / Qualicum

Looking for more information about the real estate market in specific neighbourhoods in Victoria, Saanich Peninsula, Parksville, Nanaimo, Vancouver Island and the Gulf Islands? 

Macdonald Realty has offices in downtown Victoria, Sidney, Parksville and Salt Spring Island. Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Victoria Real Estate Board (VREB) www.vreb.org and the Vancouver Island Real Estate Board (VIREB) www.vireb.com. Market data from the VIREB includes listings and sales in Campbell River, Comox Valley, Cowichan Valley Nanaimo, Parksville/Qualicum, Port Alberni/West, North Island, and the Islands.

Abbotsford, Mission, Surrey and Fraser Valley Real Estate Market Statistics – December 2021

Abbotsford, Mission, Surrey and Fraser Valley Real Estate Market Statistics – December 2021

According to the Fraser Valley Real Estate Board, fueled by the consumer response to the COVID‐19 pandemic along with historically low interest rates, total property sales in the Fraser Valley in 2021 shattered the previous annual record last set in 2016.

The FVREB processed 27,692 sales its Multiple Listing Service® (MLS®) in 2021, an increase of 39.0 per cent compared 19,926 sales in 2020; and 15.5 per cent higher than 2016’s 23,974 sales.

Larry Anderson, President of the Board, said, “No one could have predicted how the pandemic would impact the real estate market. Our region’s relative affordability, combined with a newfound ability to work from home and the value for housing dollar in the Fraser Valley attracted buyers in numbers like we’ve never seen.

“Whether helping sellers list or helping buyers complete a sale, our Board averaged over 5,200 transactions every month. And even though our volume of new listings was also high, it just couldn’t keep up with the demand.”

Year‐over‐year, sales of detached homes soared by 31.8 per cent in 2021 compared to 2020; townhome sales increased by 33.7 per cent and sales of apartments increased by 68.9 per cent. Anderson added, “With the rapid escalation of prices in 2021, many buyers made decisions based on economic factors, resulting in an explosion of condo sales in our region.”

In 2021, the FVREB received 35,629 new listings – the second highest on record (second only to 2008 at 35,651); and 12.4 per cent more than in 2020.

Baldev Gill, Chief Executive Officer of the Board, said, “Fraser Valley REALTORS® played an instrumental role in helping people navigate their real estate buying and selling needs, through uncharted territory. It’s the professionalism and expertise of our members who have done a remarkable job serving the interests and needs of buyers and sellers throughout a most challenging and unusual year.”

Baldev Gill, Chief Executive Officer of the Board, said, “Fraser Valley REALTORS® played an instrumental role in helping people navigate their real estate buying and selling needs, through uncharted territory. It’s the professionalism and expertise of our members who have done a remarkable job serving the interests and needs of buyers and sellers throughout a most challenging and unusual year.”

Find all the infographics related to the December Market Statistics by visiting the Facebook Album.

Abbotsford

Cloverdale

Langley

Mission

North Delta

North Surrey

Surrey Central

White Rock / South Surrey

Looking for more information about the real estate market in specific neighbourhoods in Surrey, Langley and Fraser Valley

Macdonald Realty has offices in North Delta, White Rock/South Surrey, and Langley.  Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Fraser Valley Real Estate Board (FVREB) www.fvreb.bc.ca

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