Greater Vancouver, Fraser Valley home sales set new best annual records in 2021

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      Home sales last year shattered previous records in markets served by the real estate boards in Greater Vancouver and Fraser Valley.

      This comes as strong demand for homes continued during the second year of the COVID-19 pandemic.

      The Real Estate Board of Greater Vancouver reports that residential sales totalled 43,999 in 2021.

      The board noted that the number represents a four percent increase over the previous all-time sales record of 42,326 in 2015.

      Sales in 2021 also marked a 42.2 percent increase from the 30,944 sales recorded in 2020, and a 73.6 percent increase from 25,351 in 2019.

      The composite benchmark price for all residential properties in the region in 2021 climbed to $1,230,200.

      The board indicated in a media release Wednesday (January 5) that this is a 17.3 percent increase from December 2020.

      The Greater Vancouver market covers Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.

      Meanwhile, the Fraser Valley Real Estate Board reported that 27,692 homes were sold in its region in 2021.

      The number tops by 15.5 percent the previous best annual record in 2016, when 23,947 homes were sold.

      The 2021 number also represents a 39 percent increase compared to 19,926 sales in 2020.

      The Fraser Valley market covers North Delta, Surrey, White Rock, Langley, Abbotsford, and Mission.