February 2021

While we all hope that 2021 will be different than last year, one thing remains the same: our dynamic housing market shows no signs of slowing down. This January was one of the busiest on record, and marked the eighth consecutive month of a seller's market. Some highlights:
  • Sales are up 52% compared to this time last year, and are 36% higher than the 10-year January average. January 2021 saw 2,389 sales, versus 1,571 in January 2020. Detached homes are up 69%, and apartment homes are up 46%.
  • 86% more listings were added to the market last month, compared to December 2020. 4,482 homes were listed on the MLS® in January, over 2,409 in the month prior.
  • Prices are continuing to rise. The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,056,600. This is a 5.5% per cent increase compared to January 2020, and a 0.9 per cent increase compared to December 2020.
These numbers tell a story that we know well: Home has never been more important, especially to those of us spending all our time there! As more people look for a new home to meet their needs, whether that's for a dedicated office or private green space to relax, available listings are being snapped up quickly. Historically low interest rates and limited supply are only adding to the demand. If you've been considering selling, now is your time.

Looking to find your ideal home, or sell the one you've outgrown? Get in touch! I'd love to help you with your next step, and offer support and guidance as you navigate this fast-paced and competitive market.