FRANK FU 傅浩桓

REBGV reports that residential home sales in the region totalled 2,688 in December 2021, a 13.1 per cent decrease from the 3,093 sales recorded in December 2020, and a 21.6 per cent decrease from the 3,428 homes sold in November 2021. 

Last month’s sales were 33.4 per cent above the 10-year December sales average. 

There were 1,945 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in December 2021. This represents a 19.3 per cent decrease compared to the 2,409 homes listed in December 2020 and a 50.9 per cent decrease compared to November 2021 when 3,964 homes were listed. 

For all property types, the sales-to-active listings ratio for December 2021 is 51.3 per cent. By property type, the ratio is 35.1 per cent for detached homes, 75.6 per cent for townhomes, and 60.8 per cent for apartments. 

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period,...

At the end of the Year 2021 and look back, Metro Vancouver’s real estate market has seen heightened, and in some cases record-breaking, sales activity throughout much of the pandemic.

During this period, the supply of homes for sale has struggled to keep pace and we’ve seen inventory levels reach lows not seen in several years.

REBGV Economist Keith Stewart’s latest report takes a deeper look at supply in Metro Vancouver and the factors affecting it during the COVID-19 pandemic. Read Keith's report today to learn more about:

• What’s happening with housing supply in our region?
• Competition for housing.
• Emerging trends relating to property types and sub-areas.

What's happening with sales and listings in Metro Vancouver?

Price Trend of Metro Vancouver

Trends in new construction

Content is supplied by Keith Stewart

Economist

Real Estate Board of Greater Vancouver