It’s all about buying a detached house in Delta.
That’s what the latest numbers from the Real Estate Board of Greater Vancouver and Fraser Valley Real Estate Board are telling us as sales activity remained robust last month.
The REBGV notes that overall residential home sales for the region in December saw a 53.4 per cent increase from the sales recorded in December 2019.
Last month’s sales were also 57.7 per cent above the 10-year December sales average and is the highest total for the month on record.
For 2020, residential home sales in the region saw a 22.1 per cent increase from the sales recorded in 2019.
The benchmark price for detached single-family houses in 2020 increased 10.2 per cent.
The benchmark for detached homes in Delta, however, increased even more.
A single-family house in Ladner in December had a benchmark of $1,070,000, a 14.7 per cent increase from December 2019, while the benchmark for a house in Tsawwassen was $1,200,000, up 12.7 per cent from the previous year.
Meanwhile, the benchmark price of condos and townhomes in South Delta mostly moved down slightly for the year.
The benchmarks for a townhomes last month in Ladner and Tsawwassen were $633,000 and $603,500 respectively. The benchmarks for condos were $517,500 in Ladner and $545,000 in Tsawwassen.
The FVRB, meantime, said that in a year when the real estate market was at a standstill for months due to COVID-19, total annual sales in the Fraser Valley still finished 12.4 per cent above the 10-year average due to unrelenting, pent-up consumer demand during the second half of 2020.
The benchmark price for a house in North Delta was $991,700 in December, an almost 10 per cent increase over the year.
The benchmark for townhomes in North Delta was $579,000, almost six per cent higher over the year, while the benchmark for a condo was $377,500, just under two per cent higher.