Courtesy of Taylor Brown

Metro Vancouver housing market shows resilience in 2020

BENCHMARK PRICES

$1,554,600 detached

$676,500 apartment

VANCOUVER, BC – January 5, 2021 – Strong December activity brought Metro Vancouver ’s 2020 home sales total in line with the region’s long-term annual average. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,093 in December 2020. Last month’s sales were 57.7 per cent above the 10-year December sales average and is apartment properties newly listed for sale on the MLS® in Metro Vancouver in December 2020. “Robust December sales outpaced long-term averages in what ’s traditionally the quietest month of the year in real estate. This was part of an unusual seasonal pattern the market followed last year, which can be attributed in large part to the pandemic.” Colette Gerber, REBGV Chair The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,538. Sales of detached homes in December 2020 reached 1,026, a 71.3% increase. The benchmark price for detached homes is $1,554,600. This represents a 10.2 per cent increase from December 2019 and a one per December 2020, a 40% increase. The benchmark price of an apartment property is $676,500. This represents a 2.6 per cent increase from December 2019 and is unchanged from November 2020. - Source: REBGV the highest total for the month on record. There were 2,409 detached, attached and cent increase compared to November 2020. Sales of apartment homes reached 1,474 in

UP 10.2% year-to-year

UP 2.6% year-to-year

2,409 8,538

ACTIVE LISTINGS (residential inventory)

NEW LISTINGS

SOLD LISTINGS 3,093

1,474

1,026

Stats are reflective of December2020 Source: REBGV Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to- date evaluation of your home.

detached SOLD LISTINGS apartment

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