(AP Photo/Elaine Thompson, File)

(AP Photo/Elaine Thompson, File)

16% boom predicted for B.C. real estate sales in 2021: experts

Along with sales, the average price of homes is also predicted to rise, by nearly 8 percent

The B.C. Real Estate Association is predicting a nearly 16 per cent uptick in sales in 2021 amid a rebounding in market listings since the start of the pandemic.

“The provincial housing market is set up for a very strong year,” said BCREA chief economist Brendon Ogmundson in the release of the association’s first quarter housing forecast, released Jan. 25.

“Record-low mortgage rates will continue to drive strong demand this year.”

Overall, the province is predicted to see 108,680 units sold in 2021 – up from 94,021 sales last year – before analysts expect a downturn in 2022 to just 98,850 units changing hands.

READ MORE: Vancouver’s real estate market up 22% in 2020, despite pandemic

Along with sales, the average price of homes is also predicted to rise, by nearly eight percent.

In the Fraser Valley, nearly 17 per cent, or 3,129 more units, are expected to change hands with increased sales in 2021.

A similar climb is predicted – at a nearly 22 per cent uptick in real estate sales – for Greater Vancouver this year.



sarah.grochowski@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Want to support local journalism? Make a donation here.

BusinessFraser ValleyhomeReal estate

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

More childcare spaces are opening in Langley. (Black Press Media files)
Langley gets 144 new daycare spaces

Government funding is expanding childcare

Tako van Popta, MP for Langley-Aldergrove. (Tako van Popta/Special to the Langley Advance Times)
Langley MP Tako van Popta to hold virtual town hall to discuss firearm legislation

A lot of my constituents have serious concerns about how Bill C-21 will affect them, van Popta says

The Langley School District has issued COVID-19 notifications at three schools. (Langley Schools)
Six Langley schools on COVID exposure list, three added Wednesday

Parents are asked to continue to send their kids to school

A HUB Cycling award will go to local winner Geraldine Jordan of Langley, with her youngest daughter Casandra Jordan. (Elisabeth Jordan/Special to the Langley Advance Times)
HUB Cycling award winner Geraldine Jordan of Langley, with her youngest daughter Casandra Jordan. (Elisabeth Jordan/Special to the Langley Advance Times)
Langley cyclist wins award for local advocacy

HUB has honoured Langley’s Geraldine Jordan

Critter Care posted this image of one of the bear cubs that are now waking up from hibernation and will need donations of fish and chicken to eat (Facebook image)
Critter Care appeals for assistance in feeding their bear cubs

Thirteen black bear cubs are all waking up from hibernation with big appetites

B.C. Health Minister Adrian Dix and provincial health officer Dr. Bonnie Henry head for the B.C. legislature press theatre to give a daily update on the COVID-19 pandemic, April 6, 2020. (B.C. government)
B.C. nears 300,000 COVID-19 vaccinations, essential workers next

564 new cases, four deaths, no new outbreaks Thursday

Walter Gretzky father of hockey hall-of-famer Wayne Gretzky waves to fans as the Buffalo Sabres play against the Toronto Maple Leafs during third period NHL hockey action in Toronto on Tuesday, Jan. 17, 2017. THE CANADIAN PRESS/Nathan Denette
Walter Gretzky, father of the Great One, dies at 82

Canada’s hockey dad had battled Parkinson’s disease and other health issues

Municipal Affairs Minister Josie Osborne speaks in the B.C. legislature, March 4, 2021. (Hansard TV)
B.C. Liberals, NDP sing in harmony on local election reforms

Bill regulates paid canvassers, allows people in condo buildings

(National Emergency Management Agency)
No tsunami risk to B.C. from powerful New Zealand earthquake: officials

An 8.1 magnitude earthquake shook the north of New Zealand Thursday morning

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

(AP Photo/Richard Vogel, File)
Pandemic stress, isolation key factors as to why Canadians turned to cannabis, alcohol

Study found that isolation played key role in Canadians’ substance use

Burnaby Mounties responded to 56 complaints and issued 10 tickets to people flouting COVID-19 restrictions in February. (Patrick Davies/100 Mile Free Press)
COVID denier fined $2,300 for hosting gathering in her home: Burnaby RCMP

The woman told Mounties she does not believe the pandemic is real

Grand Forks’ Gary Smith stands in front of his Church of the Flying Spaghetti Monster float. Photo: Submitted
Grand Forks’ Flying Spaghetti Monster leader still boiling over driver’s licence photo

Gary Smith, head of the Church of the Flying Spaghetti Monster of B.C., said he has since spoken to lawyers

Most Read