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Check out our real estate boards monthly housing market reports to get the most up-to-date statistics and to hear our perspective on what the latest buying and selling trends mean for you.
Home sale activity remains elevated across Metro Vancouver’s* housing market while the pace of homes being listed for sale continues to follow long-term averages.
*Metro Vancouver includes Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the
region totaled 3,149 in September 2021, a 13.6 per cent decrease from the 3,643 sales recorded
in September 2020, and a 0.1 per cent decrease from the 3,152 homes sold in August 2021.
Last month’s sales were 20.8 per cent above the 10-year September sales average.
There were 5,171 detached, attached and apartment properties newly listed for sale on the
Multiple Listing Service® (MLS®) in Metro Vancouver in September 2021. This represents a
19.2 per cent decrease compared to the 6,402 homes listed in September 2020 and a 28.2 per cent
increase compared to August 2021 when 4,032 homes were listed.
September’s new listings were 1.2 per cent below the 10-year average for the month.
“The summer trend of above-average home sales and historically typical new listings activity
continued in Metro Vancouver last month. Although this is keeping the overall supply of homes
for sale low, we’re not seeing the same upward intensity on home prices today as we did in the
spring,” Keith Stewart, REBGV economist said. “Home price trends will, however, vary
depending on property type and neighborhood, so it’s important to take a hyperlocal look at your
location and property category of choice before making a home buying or selling decision.”
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is
9,236. This is a 29.5 per cent decrease compared to September 2020 (13,096), a 2.6 per cent
increase compared to August 2021 (9,005) and is 27.7 per cent below the 10-year average for the
For all property types, the sales-to-active listings ratio for September 2021 is 34.1 per cent. By
property type, the ratio is 25.5 per cent for detached homes, 53.1 per cent for townhomes, and
36.7 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, while home prices often experience upward pressure when it
surpasses 20 per cent over several months.
“The total inventory of homes for sale remains insufficient to meet the demand in today’s
market. This scarcity limits peoples’ purchasing options and ultimately adds upward pressure on
home prices,” Stewart said. “With the federal election now behind us, we hope to see
governments at all levels work with the construction industry to streamline the creation of a
more abundant and diverse supply of housing options.”
The MLS® Home Price Index composite benchmark price for all residential properties in Metro
Vancouver is currently $ 1,186,100. This represents a 13.8 per cent increase over September
2020 and a 0.8 per cent increase compared to August 2021.
Sales of detached homes in September 2021 reached 950, a 27.9 per cent decrease from the
1,317 detached sales recorded in September 2020. The benchmark price for a detached home is
$1,828,200. This represents a 20.4 per cent increase from September 2020 and a 1.2 per cent
increase compared to August 2021.
Sales of apartment homes reached 1,621 in September 2021, a 1.6 per cent increase compared to
the 1,596 sales in September 2020. The benchmark price of an apartment home is $738,600. This
represents an 8.4 per cent increase from September 2020 and a 0.5 per cent increase compared to
Attached home sales in September 2021 totaled 578, a 20.8 per cent decrease compared to the
730 sales in September 2020. The benchmark price of an attached home is $963,800. This
represents a 17.5 per cent increase from September 2020 and a 1.2 per cent increase compared to
Browse thru the September 2021 stats!REBGV-Stats-Pkg-September-2021