VANCOUVER/ SURREY -  HOUSING MARKET UPDATE

November 2021

In the month of November, the supply of homes for sale continues to decline across Metro Vancouver.

The Real Estate Board of Greater Vancouver recorded that residential home sales in the area totalled 3,428 in November 2021, which shows 11.9 per cent increase from the 3,064 sales reported in November 2020, and a 1.9 % decrease from the 3,494 homes sold in October 2021.

November sales were 33.6 above the 10-year same month sales average. 

The MLS® Home Price Index combined benchmark price for all residential properties in Metro Vancouver is currently $1,211,200. This represents a 16 per cent increase compare to last year for the month of November and a one per cent increase compared to last month. 

Detached homes Sales in the month of November 2021 recorded at 987, a 7 % decrease from the 1,061 detached sales recorded in November 2020.

The benchmark price for a detached home is $1,870,000. This represents a 20.8 per cent increase from November 2020 and a 1.1 per cent increase compared to October 2021. 

Increased Housing demand for Fraser Valley real estate continued in November, with the Board recording the region’s second-highest volume of sales of all property types for the month of November.

Real Estate Board reported 1,972 sales of all property types on its Multiple Listing Service®, which shows a decrease of 9.2% compared to the 2,173 sales in same month last year

Fraser Valley real estate Board Listed 2,096 new listings in November 2021, which indicates a 4.2 % decrease compared to October 2021 and a decrease of 5.5 % compared to the 2,217 new listings recorded in November 2020.

HERE is a snapshot of Detached Housing Market for Vancouver and Surrey Areas

AVERAGE SALE PRICE

Vancouver                                  $2,967,895 | +25.0%

South Vancouver                       $1,925,733 | +0.4%

N. Delta                                       $1,536,074 | +36.6%

City of Surrey combined          $1,790,779 | +39.3%

South Surrey White Rock        $2,194,295 | +41.4%

North Surrey                              $1,641,096 | +36.6%

NEW LISTINGS

Vancouver                                   291 | -1.4%

South Vancouver                        8 | 0.0%

N. Delta                                        62 | -4.6%

City of Surrey combined           436 | -4.8%

South Surrey White Rock              135 | -8.8%

North Surrey                              97 | +3.2%

SALES

Vancouver                                     227 | -2.6%

South Vancouver                          15 | +87.5%

N. Delta                                         50 | -28.6%

City of Surrey combined        389 | -30.0%

South Surrey White Rock           138 | -5.5%

North Surrey                            87 | -19.4%

AVERAGE DAYS ON MARKET

Vancouver                                  47 | +51.6%

South Vancouver                       65 | +71.1%

N. Delta                                       17 | -22.7%

City of Surrey combined           23 | -34.3%

South Surrey White Rock               32 | -36.0%

North Surrey                               29 | 0.0%

AVERAGE PRICE PER SQ FT

Vancouver                                     $1,046 | +16.4%

South Vancouver                          $801 | +8.0%

N. Delta                                         $663 | +53.5%

City of Surrey combined        $663 | +43.2%

South Surrey White Rock      $756 | +49.1%

North Surrey                           $697 | +52.9%

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 December 2, 2021. Reported at 2pm. 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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