Home prices in Greater Vancouver and the Fraser Valley saw monthly and annual increases in October 2021.
It’s the same story for November.
Real estate boards have reported price increases for detached homes, townhouses, and condos.
This comes amid continued strong demand among property buyers.
The price of a typical single-family home in Greater Vancouver in November 2021 rose to $1,870,000.
That’s up 20.8 percent from the same month last year, and 1.1 percent from October 2021.
A typical townhouse in Greater Vancouver was $990,300 last month.
This represents a 20.2 percent increase from November 2020, and a 1.6 percent increase over October 2021.
As for condos, the benchmark price rose to $752,800 in November 2021.
That means an 11.4 percent increase from November 2020, and a 0.9 percent increase compared to October 2021.
In a media release Thursday (December 2), the Real Estate Board of Greater Vancouver reported that agents sold a total of 3,428 homes in November 2021.
Meanwhile, the Fraser Valley Real Estate Board, whose jurisdiction includes Surrey, announced that 1,972 homes changed hands in its area last month.
The board reported robust demand, resulting in higher prices.
The benchmark price of a detached home in the Fraser Valley in November 2021 rose to $1,448,000.
This is a 3.7 percent increase compared to October 2021, and 36.4 percent more than November 2020.
Meanwhile, a typical townhouse in the region cost $740,110 last month.
That’s a 2.7 percent increase compared to October, and 29.8 percent higher than November 2020.
As for condos, the benchmark price increased to $530,400.
This represents a 3.2 percent increase compared to October 2021, and 21.7 percent over November 2020.