Metro Vancouver Home Sales Hit All-time Record in March 2021:
- March 2021’s sales increased by 72.2% from the 10-year sales average of March.
- Real Estate Board of Greater Vancouver (REBGV) showed a record of a total of 5,708 home sales in the region, which is a 126.1% increase from March 2020.
- The benchmark price for residential properties in Metro Vancouver is $1,123,300, showing a 9.4% increase from the same month in 2020.
Sales-to-Active-Listings Ratio Sets New Records:
- March 2021’s sales-to-active-listings ratio increased to 62.4 %, indicating that the market is still a seller’s market for all housing types. A recap:
- A ratio below 12% typically indicates that the market is a buyer’s market.
- A consistent trend of ratio above 20% indicates that the market is a seller’s market.
- February’s sales-to-active listings ratio for different home types:
- Detached homes: 52.9 %
- Townhomes: 79.9 %
- Apartments: 65.4 %
- Among all regions in Metro Vancouver, Delta-South’s sales increased by 195.8% through 2020. This high increase in the number of sales indicates an increased demand for houses in rural areas.
*Images/numbers from REBGV report.