The benchmark price for single-detached houses in the City of Delta continues to move up sharply.
According to February sales figures from the Real Estate Board of Greater Vancouver, which includes the communities of Ladner and Tsawwassen, competition among home buyers is putting upward pressure on home prices across Metro Vancouver’s housing market.
Residential home sales in the region in February 2021 saw a 73.3 per cent increase from the sales recorded in February 2020, and a 56 per cent increase from the homes sold in January 2021.
The benchmark price for a detached single-family house in Ladner last month was $1,159,000, a 7.7 per cent increase from January 2021 which was tops in Greater Vancouver.
The Ladner house price was also 20.9 per cent higher than the same time last year.
Meanwhile, the benchmark price for a house in Tsawwassen was $1,273,100, which was up 2.4 per cent from the previous month and up 15.7 per cent over the year.
The benchmark price for a Ladner townhouse was $673,000 last month, up 5.9 per cent over the previous month.
The benchmark price for a condo in Ladner and Tsawwassen was $535,700 and $573,300 respectively, both up over five per cent the previous month.
It’s a similar story when it comes to the Fraser Valley, according to the Fraser Valley Real Estate Board (FVRB), which covers the community of North Delta.
The real estate market there experienced property sales at levels never seen before in the 100-year history of the FVRB.
In February 2021, the FVRB processed an increase of 108 per cent compared to February 2020, and 64 per cent more than were processed in January 2021.
The benchmark price for a detached house in North Delta in February was $1,068,500, up 5.7 per cent from the previous month and 16.6 per cent over the year.
The benchmark price for a North Delta townhouse was $592,100 and for a condo it was $397,200, both up over two per cent from the previous month.