It’s all about getting a detached house.
That’s according to the latest numbers from the Greater Vancouver Real Estate Board and Fraser Valley Real Estate Board, both saying overall housing demand continues to outpace historical averages with single-family detached homes having the strongest demand.
REBGV reports that residential home sales in the region last month saw a 22.7 per cent increase from the sales recorded in November 2019, but a 16.9 per cent decrease from October 2020.
Last month’s sales were still 24.6 per cent above the 10-year November sales average and the second highest total in that period.
Sales of detached homes this November saw a 28.6-per-cent increase from the detached sales recorded in November 2019.
The benchmark price saw a 9.4 per cent increase from last November and a one per cent increase compared to October 2020.
As far as the benchmark prices in South Delta, a house in Ladner last month had a benchmark of $1.056,200, a 1.4-per-cent increase from the previous month and 15.3 per cent over the year.
The benchmark for a townhouse in Ladner was $640,000, almost unchanged from the previous month, while up 2.5 per cent from November 2019.
The benchmark for a condominium was $508,700, a two per cent increase from the same time last year.
The benchmark for a house in Tsawwassen was $1,173,000, a 1.7 per cent increase from the previous month and 12.2 per cent from November 2019.
The benchmark for a Tsawwassen townhouse was $618,300 and $541,500 for a condo, up 1.1 per cent and 1.8 per cent respectively over the year.
Meanwhile, FVRB reports overall property sales this November saw an increase of 54.7 per cent compared November of last year, but an 8.3 per cent decrease compared to this October.
The benchmark price for a single‐family detached home in the Fraser Valley increased 1.4 per cent compared to this October and increased 11.5 per cent compared to November 2019.
The benchmark for a house in North Delta was $983,800, a 10.5 per cent increase over November of last year.
The benchmark for a townhouse was $581,000 and it was $381,200 for a condo, a 9.6 and 3.3 per cent year-to-year increase respectively.