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September 2020 Market Update

 

B.C. real estate: home prices forecast to rise 7.7 percent by end of 2020, and 3.7 percent in 2021

B.C. realtors expect not only to sell more homes this year and the next compared to 2019.

They also anticipate prices to rise in 2020 and 2021.

The B.C. Real Estate Association predicts 2020 to finish with a 7.7 percent increase in average price over 2019.

The BCREA also forecasts a further increase of 3.7 percent in 2021.

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Click the link below to view the monthly market statistics for your area in an easy to understand infographic. Listings, sales and prices are summarized for condos, townhomes and single-family homes in cities across BC.

 

Abbotsford

Bowen Island

Burnaby East

Burnaby North

Burnaby South

Cloverdale

Coquitlam

Kelowna

Ladner

Langley

Maple Ridge

Mission

Nanaimo

New Westminster

North Delta

North Surrey

North Vancouver

Parksville

Pitt Meadows

Port Coquitlam

Port Moody

Richmond

South Surrey/
White Rock

Squamish

Sunshine Coast

Surrey - Central

Tsawwassen

Vancouver - East

Vancouver - West

Victoria

Vernon

West Vancouver

Whistler

B.C. rents can rise just 1.4 per cent after freeze ends

The B.C. government plans to end its freeze on rent increases starting in December, 2020.

Starting in 2021, landlords will be allowed to raise rents by a maximum of 1.4 per cent. The freeze on raising rents went into effect in March, and landlords are only able to raise the rent once a year, so the freeze on rent hikes did not help all renters, but impacted all landlords.

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B.C. Real Estate News

BRITISH COLUMBIA

BCREA: "Surprisingly strong" market recovery to last well into 2021 (Mortgage News Broker)

B.C. residential real estate market heats up for summer (BC Business)

LOWER MAINLAND

Realtors point out rise in condo listings even as sales and prices increase (Vancouver Sun)

Vancouver real estate: Home prices rose in August amid recovery from COVID-19 pandemic (CTV News)

Home sales continued to rebound in August: REBGV (Business in Vancouver)

'Pent up demand' leads to big boost in home sales across B.C.'s Lower Mainland(CTV News)

SFU housing expert explains Lower Mainland's surprising real estate sales numbers (Maple Ridge News)

Developers hope to reclaim downtrodden DTES (Business in Vancouver)

Sales and new listings continue to set records in the Fraser Valley (Global Newswire)

Home sales strong despite COVID-19 economy (Maple Ridge News)

Vancouver Condo Sellers Are Listing At The Fastest Pace In Over Half A Decade (Better Dwelling)

A condo buyer's dream (Toronto Sun)

WHISTLER & SQUAMISH

School for sale: This university and surrounding property is available in B.C. (CTV News)

VICTORIA & VANCOUVER ISLAND

Summer real estate boom continues for Greater Victoria amid pandemic (Times Colonist)

Greater Victoria real estate market remains hot during pandemic (CTV News)

Real estate sales, prices rise across Vancouver Island (My Comox Valley Now)

VIREB president says many Island homes are selling 'well above asking price' (My Comox Valley Now)

OKANAGAN

Okanagan house sales skyrocket, real estate officials say (Global News)

 
 

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