Vancouver Housing Market Stats March. 2021

Vancouver Housing Market Stats March. 2021

Vancouver Housing Market Stats March. 2021

Homebuyer and seller activity reached unprecedented levels across Metro Vancouver* in March.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 5,708 in March 2021, a 126.1 per cent increase from the 2,524 sales recorded in March 2020, and a 53.2 per cent increase from the 3,727 homes sold in February 2021.

Last month’s sales were 72.2 per cent above the 10-year March sales average and are the highest monthly sales total ever recorded in the region.

“In March, residents bought and listed homes across our region at levels not seen before. This surge in activity is increasing upward pressure on prices. We’re beginning to see double-digit price gains for single-family homes and townhomes over the last 12 months.”

Taylor Biggar, REBGV Chair

Demand was most pronounced in rural and suburban areas. Delta – South saw a 195.8 per cent increase in sales over 2020 – the largest increase in Metro Vancouver. This was followed by Whistler, which experienced a 194.7 per cent increase, and Squamish, which saw a 188.6 per cent increase in sales.

Let’s take a look at the sales-to-active listings ratio:

  1. 52.9% for detached homes
  2. 79.9% for townhomes
  3. 65.4% for apartments

Realtor Ran Chen’s perspective:

Today’s housing market is a bit crazy in Vancouver, with a high sales-to active rate. The BC government is running out of money and highly rely on the real estate market to gain some TAX income. With a high unemployment rate; the real estate market in Vancouver still remains red-hot.


  1. BC immigration score set to be low; attracts more immigrants to move to BC to boost the real estate market
  2. During the pandemic, which is changing our live styles, local people want larger living spaces

Consequences: It would be harder and harder for youngs to get their homes

A lot of people blame real estate agents to manipulate the real estate market, NO. It is the government, it’s the government’s job to control the price – affordable housing for its citizens