The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in 2020 were up 22.1% from 2019 and up by 25.7% from 2018. There were a total of 30,944 in 2020, a 22.1 per cent increase from the 25,351 sales recorded in 2019, and a 25.7 per cent increase from the 24,619 homes sold in 2018. 2020 year’s sales total was 2.8 per cent below the 10-year sales average.
MLS LISTINGS VOLUME
The number of new home listings on the Multiple Listing Service® (MLS®) in 2020 were up 4.6% from 2019 and up 1.3% from 2018. Metro Vancouver reached 54,305 mls® listings in 2020 compared to the 51,918 homes listed in 2019 and a 1.3 per cent increase compared to the 53,614 homes listed in 2018. Last year’s listings total was 2.7 per cent below the region’s 10-year average
When the Covid 19 pandemic began in March, we all took a pause and the real estate market slowed right down. Sellers were hesitant to list their home for sale and buyers were staying home and safe. However, the need for housing does not simply go away away in a time of crisis. Housing needs actually increase but for many different reasons. The pent up demand from this pause hit the Sunshine Coast hard with record breaking sales volume in the spring and summer months with many buyers and families coming from Greater Vancouver looking to get away from the city and make the Sunshine Coast home.
We continue to work closely within public health official guidelines and take all precautions and follow all protocols to keep our clients and the public safe. If you're looking to make a move in 2021 please give us a call for a zoom / video call to learn more about the current market conditions and how we can help.