Sales 🔼 : 11.9% increase compared from November 2020, and an 1.9% decrease from October 2021. Last month’s sales were 33.6% above the 10-year November 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.
My comments:
With the housing price getting higher and higher each month, it is difficult to find good deals. For our investor friends out there, I still recommend Downtown Vancouver studio/1 bedroom under $600k. The graph below shows the average price in the past 3 years in Greater Vancouver/Burnaby North Brentwood area/ Richmond Brighouse/Vancouver downtown. The growth are on average 7-10% in most areas except Downtown Vancouver. The higher vacancy rate due to Covid is a major factor. I don’t see this to last forever. Recent sales in the area as a reference in the link below. Props to the buyer who bought the loft in the heart of downtown for under $550k!! https://bcres.paragonrels.com/publink/default.aspx?GUID=61830801-58a9-4fc3-8ee4-c21ab31a8b6c&Report=Yes
