Housing Market October 2021 Review - Metro Vancouver and Fraser Valley Areas

Dated: November 2 2021

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Detached - Housing MARKET UPDATE

       

VANCOUVER, BC – November 2, 2021

 

 In Metro Vancouver*, home sales activity remained above historical averages in October, while the overall supply of homes for sale fell to levels that not seen in 3 years. According to the Real Estate Board of Greater Vancouver (REBGV), residential home sales in the region totaled 3,494 in October 2021, a 5.2% decrease from the 3,687 sales recorded in October 2020 and an 11% increase from the 3,149 homes sold in September 2021.

 

Sales last month were 22.4 percent higher than the 10-year October sales average.

 

Here is the market review for the month of October 2021 for some of the Fraser Valley and Metro Vancouver areas.


 


Vancouver East - October 2021 Market Update

 

Sales in Vancouver-East recorded at 138 in the month of October 2021, which represents -8.0% % (decrease) compared to October 2020.

 

Total New Listing in Vancouver-East recorded at 158 in the month of October 2021, which indicates -32.5% (decrease) compared to October 2020.

 

Average Sales Price in Vancouver-East recorded at $1,951,338 in the month of October 2021, which represents +16.0% (increase) compared to October 2020.

 

Average Days on Market in Vancouver-East recorded at 30 days in the month of October 2021, which represents +36.4% (increase) compared to October 2020.

 

Vancouver south - October 2021 Market Update

 

Sales in Vancouver-East recorded at 15 in the month of October 2021, which represents -6.3% (decrease) compared to October 2020.

 

Total New Listing in Vancouver-East recorded at 19 in the month of October 2021, which indicates -17.4% (decrease) compared to October 2020.

 

Average Sales Price in Vancouver-East recorded at $2,213,633 in the month of October 2021, which represents +27.9% increase compared to October 2020.

 

Average Days on Market in Vancouver-East recorded at 19 days in the month of October 2021, which represents -47.2% (decrease) compared to October 2020.

 

 

North Delta - October 2021 Market Update

 

Sales in North Delta recorded at 42 in the month of October 2021, which represents -31.1% decrease compared to October 2020.

 

Total New Listing in North Delta recorded at 50 in the month of October 2021, which indicates -43.2%, decrease compared to October 2020.

 

Average Sale Price in North Delta recorded at $1,505,887 in the month of October 2021, which represents +38.7%, increase compared to October 2020.

 

Average Days on Market in North Delta recorded at 34 days in the month of October 2021, which represents +47.8%, increase compared to October 2020.

 

 South - SURREY/ White Rock - October 2021 Market Update

 

Sales in South Surrey/White Rock recorded at 123 in the month of October 2021, which represents -15.8%, decrease compared to October 2020.

 

Total New Listings in South Surrey/White Rock recorded at 149 in the month of October 2021, which indicates -35.8%, decrease compared to October 2020.

 

Average Sale Price in South Surrey/White Rock recorded at $1,860,804 in the month of October 2021, which represents +23.6%, increase compared to October 2020.

 

Average Days on Market in South Surrey/White Rock recorded at 41 days in the month of October 2021, which represents -12.8%, decrease compared to October 2020.

 

 

 

SURREY- NORTH – October 2021 Market Update

 

Sales in North Surrey recorded at 80 in the month of October 2021, which represents -20.8%, decrease compared to October 2020.

 

Total New Listings in North Surrey recorded at 92 in the month of October 2021, which indicates -41.4%, decrease compared to October 2020.

 

Average Sale Price in North Surrey recorded at $1,518,409 in the month of October 2021, which represents +33.1% increase compared to October 2020.

 

Average Days on Market in North Surrey recorded at 36 days in the month of October 2021, which represents +50.0%, increase compared to October 2020.

 

 City of SURREY Combined – October 2021 Market Update

 

Sales in City of Surrey Combined recorded at 390 in the month of October 2021, which represents -25.6%, decrease compared to October 2020.

 

Total New Listings in City of Surrey Combined recorded at 458 in the month of October 2021, which indicates -35.4%, decrease compared to October 2020.

 

Average Sale Price in City of Surrey Combined recorded at $1,723,525 in the month of October 2021, which represents +37.3%, increase compared to October 2020.



Disclaimer: This Market information is general in nature and shouldn’t solely rely on it and This information is not intended to cause or induce breach of an existing agency agreement. 

 

Source: Each point is actual monthly data. Data is from November 2, 2021. Reported at 3:15pm. All data © 2021 BC Northern Real Estate Board, Chilliwack and District Real Estate Board, Fraser Valley Real Estate Board, and Real Estate Board of Greater Vancouver. All rights reserved. Data deemed reliable but not guaranteed. Stats Centre © 2021 Showing Time

Sales Price: Calculations are based on MLS sold data. Average price is the total dollar volume divided by the total number of sales in a given month.

New Listings: A count of the properties that have been newly listed on the market in a given month. Calculations are based on MLS listing data.

Sales: A count of the actual sales that closed in a given month. Calculations are based on MLS sold data.

Days on Market: Average number of days between when a property is listed and when an offer is accepted in a given month. Calculations are based on MLS sold data. *

 

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