January 2021 Market Update
The January 2021 Market update shows that it is a SELLER’S MARKET in Greater Vancouver and surrounding areas!
The Real Estate Board of Greater Vancouver reported in their January 2021 Market Update that, “Home Buyer demand remains elevated across Metro Vancouver.
In the first month of 2021, Metro Vancouver’s* housing market continued the pattern set at the end of last year with home sale activity outpacing the supply of homes listed for sale.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totaled 2,389 in January 2021, a 52.1 per cent increase from the 1,571 sales recorded in January 2020, and a 22.8 per cent decrease from the 3,093 homes sold in December 2020.
Last month’s sales were 36.4 per cent above the 10-year January sales average.
“With home sale activity well above our January average, the supply of homes for sale isn’t able to keep pace,” Colette Gerber, REBGV Chair said. “This is causing increased competition amongst home buyers and upward pressure on prices.”
There were 4,480 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2021. This represents a 15.7 per cent increase compared to the 3,872 homes listed in January 2020 and an 86 per cent increase compared to December 2020 when 2,409 homes were listed….”
