Despite a full year of COVID-19 impacts, the number of homes sold in British Columbia broke a record, as did the sales dollar volume.
A total of 124,854 residential units were sold in 2021, according to a report from the B.C. Real Estate Association based on data from the Multiple Listing Service (MLS).
That’s up from 94,001 units the year before – an increase of 32.8 per cent – and a record number of sales in the province, the BCREA said Wednesday.
And it was a good year for sellers, with the average price up 18.7 from the previous year. Homes across B.C. sold for an average of $927,877, compared to $781,572 in 2020.
The total sales dollar volume for the year was a whopping $115.8 billion, the BCREA said. That’s up nearly 60 per cent from 2020.
“Listings activity could not keep up with demand,” the association’s chief economist, Brendon Ogmundson, said in a news release.
Seven market areas in B.C. saw new sale highs, he said. Record sales were seen in the following real estate board areas, Ogmundson told CTV News in an email:
- Vancouver Island (most of the island, outside of Greater Victoria);
- Greater Vancouver (Metro Vancouver, excluding Surrey, Langley and North Delta);
- Fraser Valley;
- Interior (the Okanagan); and
The B.C. Northern region, which covers the Cariboo area and northwest B.C., was about 60 sales short of setting a record as well, Ogmundson said.
According to Ogmundson, the frenzy of activity in 2021 means 2022 is starting out with the lowest level of active listings on record.
The BCREA said supply is “particularly concerning” right now for real estate boards in Chilliwack, the Fraser Valley and Vancouver Island “where there is one month or less of supply at the current pace of sales.”
The news of demand outpacing supply may be good news for sellers, but unaffordable housing is increasingly an issue in B.C.
Data released earlier this year from the B.C. Assessment Authority (BC Assessment) was not a welcome update for those interested in entering the market.
Experts said significant increases in assessed property value are “devastating” for some first-time buyers.
A Vancouver-based realtor who has some younger clients told CTV News earlier this year that the pandemic moved the market at a disproportionate rate. And Kate MacPhail said the assessments are based on market values as of July 1, 2021, so they don’t paint the whole picture.
Others say the higher property values are likely here to stay.
“It’s not crazy to think that we’ll continue to see home prices, and certainly rent prices, increase, and at a rate greater than inflation,” University of British Columbia director Thomas Davidoff said in an interview last month.
Two detached real estate properties in Toronto are listed for $449,000 – NOW Magazine
Two Dufferin and Eglinton area homes are listed for less than half the average selling price
In the Toronto real estate market where a tree to piss on might cost you a million, detached homes listed for $449,000 sound like the pot of gold at the end of a rainbow. Price tags like that are a steal even if the properties are being sold as tear downs that you don’t even want to step foot in. That’s what listings for 2224 and 2226 Dufferin are selling for.
The properties were listed on realtor.ca by the same agent this week at less than half the cost of an average home, which the Toronto Regional Real Estate Board (TRREB) reported was $1,157,849 in December. The price tags for each (they could be purchased as a pair) are almost a quarter of the average selling price of a detached home in the 416, which dropped down to $1,698,178 in December.
The properties are obviously not eye-catching, with all the tell-tale signs that they demand to be torn down. The listings feature limited pictures of exteriors, showing narrow one-storey dwellings sitting approximately 25 by 90 feet lots. 2224 Dufferin looks worn-down, while 2226 Dufferin appears to have a tin roof. But the latter’s listing adds that it has new stucco, flooring and a kitchen and is move-in ready.
Both listings also say that the properties cannot be accessed by children and the elderly, perhaps because it’s a steep climb up to the homes.
The listings for the properties also make it clear that Toronto real estate land value is the big appeal, even if the houses aren’t much to look at. They overlook Fairbank Park, in the Dufferin and Eglinton area. That alone makes the pricing sound like a steal. Compare these to the listing we reported on last month for a Scarborough bungalow ready to be torn down by developers while asking for $3 million.
In the Dufferin property cases, the listing agent, who also discloses a personal interest in the property, recommends tearing them down for custom homes or buying both to build a five-story rental property in a city that is in desperate need for more housing.
Massillon area real estate transfers Dec. 25-31 – Massillon Independent
Bertram John from Huddleston Jennifer E, 207 Jacob St NE, $111,100.
Anthony Hunter M from Fields Micaela, 546 Longview Ave, $218,000.
NVR Inc., A Virginia Corporation, DBA from Schalmo Properties Inc, parcel 10013929 Bonita Cir SE, $29,500.
Thompson Victoria L & Nicholas M from Mcfee Gregory N, 965 Ross Dr, $297,000.
Adams James H from Valentine Theresa N Trustee, 6174 Bergess Rd NW, $722,500.
Alvarez Larissa & Wigington III David from Kiser Dustin J, 5927 Fulton Dr NW, $249,900.
Bloomhuff Michael Alan & Wanda Kay from Carlson Steig A, 3778 Woodleigh Ave NW, $480,000.
Cavanaugh Cory & Jamie from Whatling Ronald G, 3454 Cardiff Ave NW, $236,000.
Crofford Andrew John from Raff Andrew H, 6230 Beachland Cir NW, $270,000.
Cueto Isaac E & Chelsey K from Ressler Harold Jr & Wanda, 9467 Emerald Isle St NW, $149,000.
Day Kassiani F from Glaros Katherine E, 8622 Ontario St NW, $148,000.
Duque Venus M from Perkins Duane A & Lori E, 9593 Crimson St NW, $326,000.
Flack Brandon & Hannah from Scott Loyal v Sr, 7630 Fawn Dr NW, $189,900.
Floom Christopher J from Singh Ragbir & Al-Mousa Mazin, 5804 Hills and Dales Rd NW, $265,000.
Glendale Village Homeowners Association from Maxsam Investments LLC, 3960 Saltmarsh Cir NW, $70,000.
Glendale Village Homeowners Association from Maxsam Investments LLC, 3968 Saltmarsh Cir NW, $37,000.
Herrmann John T & Martha M from Mccann Robert J Jr, 8703 Dublin Ridge Cir NW, $170,000.
Hidden Hollow Properties LLC from Fishberg and Worshil LLC, 4700 20th St NW, $317,900.
Johnson Adam T from Hink Ralph M & Diane S, 9550 Cliffview St NW, $265,000.
Koteff Melissa from Solanki Rekha M, 3085 Wickford Ave NW, $299,900.
Lesneski Bernard F & Griffin Mary Lou from Canterbury Preserveltd, 7435 Emerald Glen Ave NW, $79,000.
Mzoy LLC from Kelleric Realty LLC, 4001 Whipple Ave NW, $215,000.
Scofield Sadie from Neff John R & Elaine M, 3047 Perry Dr NW, $123,700.
Shrigley Amber & Sweitzer Jeffrey from Coffelt Devon & James & Shelley, 7606 Ravine Dr NW, $251,000.
Boylen Kaira from Clendenin Robert C & Patricia, 807 Cherry Rd NW, $108,500.
Bushman Samantha L from Henry Jane M, 1255 Patriot PL SW, $170,000.
Cruz Penny L & Walter E from Reese Timothy M, 225 Lewis PL NE, $20,190.
Krutsinger Michael A & from R&W Home Improvement LLC, 4862 Sippo Reserves Dr NW, $355,000.
KS Yoak Enterprises LLC from Ollis Steven A, 2318 Massachusetts Ave SE, $25,000.
Long Robert E Jr from Smith Staci Lynne, 1003 Johnson St SE, $59,400.
Maurer Dawn from Blythe Dillon, 34 Rolling Park Dr N, $2,500.
Red Velvet Investments LLC from Allen Lisa K, 27 Willard Ave NE, $28,000.
Shaw Eric from Continental Community Sales, 16 Rolling Acres Cir E, $4,000.
Sig Lincoln Way Outlots LLC from Sig 2600 Lincoln Way LLC, 2548 Lincoln Way E, $450,000.
Sig Lincoln Way Outlots LLC from Sig 2600 Lincoln Way LLC, parcel 10014413 E Lincoln Way, $450,000.
Vickers Tony & Crystal from Butler Vincent R & Phyllis Y, 122 23rd St SE, $135,000.
Weston Andrew Joseph from Loar W Dean Jr, 1505 Dexter Rd NE, $143,000.
White Duncan from Lumpp Anthony, 923 Campbell Cir NE, $150,000.
Williams Thomas L from Hintz Robert F, 645 Wabash Ave SW, $58,500.
Young Joshua from Young Jessica N, 503 Shaw Ave NE, $74,500.
Jones Tyler S & Meghan R from Thomas Mark A & Christine M, parcel 10014264 Maplegrove Ave NE, $120,240.
Orzo Brandy Nicole from Mcknight James R Jr, 5673 Ravenna Ave, $110,000.
Dimauro Mitchell & Miranda from Tyler Jennifer L & Mealy Robert W, 1300 7th St NE, $305,000.
Funk Jacqueline A from Hicks Timothy D, 1273 Monterey BLVD NW, $19,750.
Lesh Properties LLC from Drake Terry A & Herron Brynn L, 325 Everhard Rd SW, $75,000.
North Canton CSD Board of Education of from North Canton CSD Board of Education of, 341 Wise Ave NE, $1,980,000.
Palmer Tyler A & Snyder Sarah G from Patterson Jo Ann Ttee, 1521 Westfield Ave SW, $158,000.
Wolfe Gary & Arlette from Browder Cynthia A, 1259 Los Angeles BLVD NW, $1,000.
Parker Andrew & Alexis from Irwin Shaun E & Kathy D, parcel 3800086 Crestlawn Dr SE, $12,000.
Rossy Billy D from Neff Dwight, 2646 Klotz Ave NE, $150,000.
Sierzant Mitchell J from Gray Denise A, 6990 Mapleton St SE, $220,000.
Ama Ohio Home LLC from Hunter David N, 162 Saratoga Ave NW, $145,000.
Barnes Brittany N & Kaplar Benjamin from Groh Kari & Jon R, 204 Stewart Ave SW, $145,000.
Burns Dawn & Andrew from NVR Inc A Virginia Corporation DBA, 6961 Gauntlet St SW, $262,330.
Caughey Thomas J & Carol A from Bachtel Dennis L & Sibila Rinda & Manley, 2900 Fasnacht Cir NW, $213,000.
Clouse Cathy L from Lorenz Paula A, 4607 7th St NW, $85,000.
Cronin Mikell from Calloway Ada, 3354 Hilton St NW #5, $9,000.
Donaldson Lori A from Garner Stacey L & Colin M, 3208 Rayanna St NW, $135,000.
Dumire Edwin D & Nancy L Trustees from NVR Inc A Virginia Corporation DBA, 7066 Gauntlet St SW, $285,620.
English Jonathon Taylor & Jurado Paige from Smith Justin K, 3607 Clark St SW, $195,000.
Fry Tyler J from Blocher Gerald J, 1606 Clearbrook Rd NW, $202,500.
Hund Jared J from Garber Martha A, 1312 Lost Tree Dr NW, $259,000.
Jones Scott from Mcbride Paul, 143 Marsden Ave SW, $5,900.
Legere Trent & Leary Adam & Tamara from Blythe Construction LLC, 4075 Fairgrove Ave SW, $10,400.
Lopez Carlos J Sr from Case Jay L, 3456 Southway St SW, $40,000.
Matzke Brad Edward from Miller Mark E & Karen, 5888 Longview St SW, $264,900.
Richardson Kelly A from Kraft Eleanor J, 2614 Oakview St NW, $142,900.
SFR3-040 LLC from Murray Nadine C, 143 Saratoga Ave SW, $82,000.
Snopel Christopher from Mary Ellen Slinger Company LLC, 1851 Clearbrook Rd NW, $204,000.
Thewes Michael L & Kendrick Renee from Thewes Barbara R, 4449 Emma PL NW, $165,000.
Vanzant Scott from Young Joan K, 1738 Dunkeith Dr NW, $225,000.
Whipkey Tiffany & Andrew David from Loader Brett R, 4952 15th St SW, $170,000.
Williams Christie Rae from George Lauren R, 4949 Barrie St NW, $200,000.
Zimmerman Chad from Bridges Laura L, 6731 Westwood Ave SW, $170,000.
Gingerich Jacob L & Katie A from Hershberger Enos A & Rachel A, 8460 Welty Rd SW, $221,000.
Hershberger Enos A & Rachel A from Yoder Jonas E & Malinda, 8823 Welty Rd SW, $200,000.
Jantzen Wyndall A & Katie L from Medure Janet M Trustee / Mary L Scassa I, 656 Muskingum Ave NW, $225,000.
Mast Trevor A & Miller Sophie E from Kennedy Michael & Natalie, 7551 Kellerer St SW, $100,000.
Miller Michael J & Kathryn from Alcorn Brenda D, 7065 Alabama Ave SW, $225,000.
Savage Nicole & Corey from Savage Rick, 312 Redwood St SW, $74,000.
Light Timothy W & Charlene from Warth Stephen R and Erika A, 11922 Bonnie Brae Dr SW, $280,000.
Whispering Grace Horses Inc from Elms of Massillon Inc, parcel 7206582 Kimmens Rd SW, $270,000.
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