Sales 🔽 : 13.1% increase compared from December 2020, and and 21.6% decrease from November 2021. Last month’s sales were 33.4% above the 10-year December sales average.
Inventories🔽 : 35.7% decrease compared to November 2020 (7144) and a 11.1% decrease compared to October 2021 (8034).
Price 🔼: Benchmark price for all residential properties in Metro Vancouver is currently $1,211,200. This represents a 16% increase over November 2020 and 1% increase compared to October 2021.
2021 Summary from the Real Estate Stats report:
- 2021’s sales total was 33.4 per cent above the 10-year sales average.
- 2021’s listings total was 11 per cent above the 10-year average.
- 2021 home sales: 42.2 % 🔼 from the 30,944 sales recorded in 2020
My comments:
It’s a tough market out there for everyone ! Sellers need to buy after they sell their properties, unless they are downsizing to a smaller condo unit or it is a warzone everywhere. It is difficult to find good deals anywhere. We begin 2022 with just over 5000 homes for sale and this is the lowest level we have seen in more than 30 years! Low inventory is the main issue. Total inventory graph from 2011-2021 below.
In a competitive market like this, we are doing our best to serve our client buyers and sellers. For sellers, we use our Exponential 4C system to market/sell for the highest dollar possible.
For our buyers, a complete buyer’s roadmap includes: Area Scouting, Ground Game, Sniper Mode, we have customized a buying system that produces results and maximises value for our clients.
From our bubble to yours, wishing you an exciting, optimistic and healthy 2022!
