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 totaled 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 Area…
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%
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%
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%
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%
Surrey combined $663 | +43.2%
South Surrey White Rock $756 | +49.1%
North Surrey $697 | +52.9%
AVERAGE SALE PRICE
