Vancouver Real Estate Stats Nov.2020 – Housing Market
November home sales outpace seasonal norms and long-term averages
Housing demand in Metro Vancouver* continues to outpace historical averages with November sales eclipsing 3,000 for the first time since 2015.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,064 in November 2020, a 22.7 per cent increase from the 2,498 sales recorded in November 2019, and a 16.9 per cent decrease from the 3,687 homes sold in October 2020.
Last month’s sales were 24.6 per cent above the 10-year November sales average and was the second highest total in this period.
Last month’s sales were 19.9 per cent above the 10-year August sales average.
Let’s take a look at the sales-to-active listings ratio:
- 27.9% for detached homes
- 40.1% for townhomes
- 23.9% for apartments
Total Sales in Detached homes, condo, and Townhouses:
- Detached home: 1,061, houses sold – 9.4% increased from August.2019 – The benchmark price for a detached home is $1,538,900
- Condo: 1,371 apartment sold – 3.4% increased from August.2019 – The benchmark price of an apartment property is $676,500
- Townhouse: 451 townhomes sold – 5.6% increased from August.2019 – The benchmark price of an attached home is $814,800