DAN McCARTHY

RE/MAX CREST

BLOG

RSS

Market Review.

A Record Year for the BC Housing Market.

Vancouver, BC - January 12, 2022.

The British Columbia Real Estate Association (BCREA) reports that a record 124,854 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2021, a 32.8 per cent increase from the 94,001 units sold in 2020.

The annual average MLS® residential price in BC was $927,877, an 18.7 per cent increase from $781,572 recorded the previous year. Total sales dollar volume was $115.8 billion, a 57.7 per cent increase from 2020.

 

"Last year was a record year for BC homes sales with seven market areas setting new highs," said BCREA Chief Economist Brendon Ogmundson. "Listings activity could not keep up with demand throughout the year. As a result, we start 2022 with the lowest level of active listings on record."

A total of 6,871 MLS® residential unit sales were recorded across the province in December down 17.6 per cent from a record-setting December 2020. The average MLS® residential price in BC passed the $1 million mark for the first time as the average price in three of the largest markets in the province were over $1 million in December. Total sales dollar volume was $7.1 billion, a 1.2 per cent increase year-over-year.

Total active residential listings were down 41.2 per cent to a record low of 12,179 units. The supply situation is particularly concerning in the Fraser Valley, Chilliwack and Vancouver Island where there is one month or less of supply at the current pace of sales.





  

I am committed to assisting you during your real estate transaction...
"EVERY STEP of THE WAY"
   
Please contact me at 604.649.1541 or email dan@danmccarthy.ca
 to be of further assistance.

 

Mobile: 604-649-1541
Office: 604-433-2211
Toll Free: 1-866-433-2211
Fax: 604-433-5274
RE/MAX Crest Realty
# 1 - 5050 Kingsway
Burnaby BC V5H 4C2
Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.