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Rick Alder

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April 2021 Market Update

 

Recreational Property Catches the Real Estate Wave

The pandemic has blurred the line between recreational real estate and primary residences, with the former catching the incredible upturn in prices being seen by the latter.

On the Sunshine Coast, a recreational region a BC Ferries ride from West Vancouver, the median price of a detached house increased 34.6 per cent in March, compared to a year earlier. This was the second- highest increase of any market, according to the Real Estate Board of Greater Vancouver, second only to Bowen Island, and twice as high as the average price increase in Greater Vancouver.

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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.

 

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 Surrey/
White Rock

Squamish

Sunshine Coast

Surrey - Central

Tsawwassen

Vancouver - East

Vancouver - West

Victoria

Vernon

West Vancouver

Whistler

Not-So-Extreme Home Makeover: Pandemic Edition

Even if you love your space, there’s something about an extended (and extended, and extended...) amount of quality time that tends to magnify those less-than-perfect elements. Here, a trio of interior designers share their own pandemic home improvements—perhaps the inspiration we need to stop doomscrolling and start decorating.

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B.C. Real Estate News

BRITISH COLUMBIA

Rapid increase in home prices puts buyers in bind when appraisals don’t match sale price (The Globe and Mail)

Housing market in northwest B.C. defies COVID-19 (Prince George Citizen)

UPDATE: Real estate investing, Part 3: REITs worth a look (Western Investor)

Retail outlets the foundation of choice for major real estate developments in B.C. (BIV)

LOWER MAINLAND

Hopeful Metro Vancouver homeowners stand in line for the chance to snag Langley townhomes (CBC News)

March home sales through the roof in Vancouver area amid rapidly rising prices (CBC News)

March shatters monthly sales and new listings records in the Fraser Valley (Vancouver Sun)

What’s happening in the Vancouver housing market? (Mortgagebrokernews.ca)

Vancouver home in Cambie Corridor high-density plan sells for almost $1 million more than assessed value (The Georgia Straight)

Metro Vancouver home sales hit all-time record in March: Real estate board (BNN Bloomberg)

Fraser Valley Real Estate Board reports March 2021 sales highest in a century since 1921 (The Georgia Straight)

Housing prices in Metro Vancouver are going up, especially in the suburbs: CMHC report (CBC News)

A quarter of Canadians aged 25 To 35 bought real estate during the pandemic (Better Dwelling)

WHISTLER & SQUAMISH

How the 'COVID shuffle' made 2020 the year for luxury real estate (BNN Bloomberg)

VICTORIA & VANCOUVER ISLAND

Monthly real estate sales in Greater Victoria top $1 billion for the first time (Times Colonist)

Victoria market could overheat if demand for detached homes continues to outpace supply: CMHC (Times Colonist)

'Historically low levels': Limited inventory continues to squeeze Victoria's pricy real estate market (CTV News)

Real estate listings edge up, but still no relief for buyers (My Comox Valley Now)

OKANAGAN

Four-acre site in downtown Kelowna listed for $20 million (Kelowna Daily Courier)

District buys land near park (Castanet)

 
 

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