Market Update – Metro Vancouver – June 2021
Metro Vancouver’s housing market continues to experience strong sellers’ market conditions, although the intensity of demand has eased from what we saw throughout most of the spring. The past two months have shown a market that is shifting toward more historically typical conditions.
Speed of the Market
Sellers’ market: 34.7%. Demand from buyers was higher than the supply from sellers.
Home Sales
There were a total of 3,762 sales in June 2021.
- 54% increase from June 2020.
- Last month’s sales were 18.4% higher than the 10-year June sales average.
Listings
There were a total of 5.849 new listings in June 2021.
- 1.1% increase compared to June 2020.
- Both the new listings and sales have gone up, leading to an upward trend in prices.
Benchmark Sold Price
The average selling price equaled $1,175,100:
- 14.5% increase compared to June 2020
- Benchmark sold price also increased by 0.2% compared to last month.
Detached Home Highlights
1,262 detached homes were sold in June:
- Sales surpassed last year’s level by 45.7%
Benchmark Price was $1,801,100:
- Benchmark prices surpassed last year’s level by 22%.
Townhouse Highlights
726 townhouses were sold in June:
- Sales nicreased by 53.8% compared to last year.
The benchmark price was $946,900:
- Benchmark prices increased by 17.4% compared to last year.
Apartment Highlights
1,774 apartment homes were sold in June:
- Sales nicreased by60.5% compared to last year.
The benchmark price was $737,600:
- Benchmark prices increased by 8.9% compared to last year.