According to the Real Estate Board of Greater Vancouver, home buyers have remained active in Metro Vancouver throughout the summer, the supply of homes for sale has declined steadily since June.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,152 in August 2021, a 3.4 per cent increase from the 3,047 sales recorded in August 2020, and a 5.2 per cent decrease from the 3,326 homes sold in July 2021.
Housing supply continues to be a big factor affecting the market. With little inventory, prices continue to rise and we continue to see multiple offers.
Metro Vancouver Market
( Benchmark Prices) – Detached, Townhouse, Apartment
Detached Homes under $1,000,000.00
Sunshine Coast – $847,800.00
Next affordable is Maple Ridge where the Benchmark price is $1,138,700.00
Burnaby East – $689,000
Maple Ridge – $686,900
Sunshine Coast $601,400
Maple Ridge $427,800
Pitt Meadows $544,300
Port Coquitlam $523,200
Sunshine Coast $511,200
You can still get a condo for less than $500,000 so where do you want to look?
North Delta where Benchmark prices for a condo are $499,900
Still searching for homes under 1 million dollars? Look no further than Mission where Benchmark Prices are $927,500.
In January Benchmark prices in Mission started at $850,000 but have creeped up as high as $970,000 and back down to $927,500.00