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November 2021 Market Update

 

B.C.'s real estate market expected to 'remain vigorous' in 2022: BCREA

Home prices are expected to rise in 2022, but sales will take a dip, according to new data from the BC Real Estate Association.

A BCREA report issued Thursday said sales in B.C. are expected to jump 29 per cent to more than 120,000 units this year, compared with 94,000 in 2020.

The association forecasts sales of 102,000 units in 2022, a pullback of 15 per cent.

"After a frenzied start to the year, activity in B.C. housing markets has settled back to a level that is broadly in-line with long-run trends. The strength of the first half of this year has sales on track to easily break the previous record for annual sales," BCREA chief economist Brendon Ogmundson said.

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Click the link below to view the monthly market statistics for your area in an easy to understand infographic. Listings, sales and prices are summarized for condos, townhomes and single-family homes in cities across BC. For more up-to-date market information please visit macrealty.com/blog.

 

Abbotsford

Bowen Island

Burnaby East

Burnaby North

Burnaby South

Cloverdale

Coquitlam

Kelowna

Ladner

Langley

Maple Ridge

Mission

Nanaimo

New Westminster

North Delta

North Surrey

North Vancouver

Parksville

Pitt Meadows

Port Coquitlam

Port Moody

Richmond

South Okanagan

South Surrey/
White Rock

Squamish

Sunshine Coast

Surrey - Central

Tsawwassen

Vancouver - East

Vancouver - West

Victoria

Vernon

West Vancouver

Whistler

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B.C. Real Estate News

BRITISH COLUMBIA

46% of BC homeowners are thinking of leaving the province & getting out of the market (604 now)

The Canadian housing market outlook (RBC Economics)

Canadian home building intentions are in a correction after peaking earlier this year (Better Dwelling)

BCREA said BC needs twice the listings to maintain prices(Castanet)

B.C. working to strengthen protection for home buyers (BC Gov News)

LOWER MAINLAND

Vancouver area home sales in October down from a year ago, benchmark price up (CBC News)

Home sales down in Metro Vancouver, but prices still climbing (CTV News)

60,000 homes sold in Lower Mainland so far in 2021, up by 63% in one year (Daily Hive)

Over 1,200 homes in 4 towers proposed near SkyTrain Holdom Station (Daily hive)

WHISTLER & SQUAMISH

Glamping campground proposed as part of Britannia Beach development (Squamish Reporter)

Whistler records highest-ever vacant land sale (Pique News Magazine)

VICTORIA & VANCOUVER ISLAND

Greater Victoria housing prices could climb as much as 16 per cent by end of year: realtor (CHEK news)

October sees yet another record low for property sales in Victoria (Victoria News)

Greater Victoria home sales dip as inventory dries up, prices rise (Times Colonist)

Benchmark price for single-family home in Parksville Qualicum Beach area hits $887,300 (Parksville Qualicum Beach News)

OKANAGAN

Kelowna's median house price jumped past $1 million, market report says (Global News)

Kelowna remains iconic real estate hotspot (Lake Country Calendar)

 
 

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©2021 Macdonald Realty Ltd. 2105 W 38th Ave, Vancouver, B.C. V6M 1R8 | macrealty.com