(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

Just Posted

A man holds a picture of Chantel Moore during a healing gathering at the B.C. Legislature in Victoria on June 18, 2020. THE CANADIAN PRESS/Chad Hipolito
‘Police have killed more Tla-o-qui-aht First Nation members than COVID’

First Nation demands transparency in probe into Tofino RCMP shooting of Julian Jones

The B.C. Supreme Court ruled Feb. 26 that the estate of deceased Sooke man and Hells Angels prospect Michael Widner is to be divided between his wife and his secret spouse. (Black Press Media file photo)
Estate of deceased Hells Angels prospect from Sooke to be divided between wife and secret spouse

Michael Widner’s 2017 death left a number of unanswered questions

Comox Valley-raised Shay Sandiford has earned a spot on the Canada skateboard team. Facebook
Vancouver Islander selected to Canada’s first-ever national skateboard team

Courtenay’s Shay Sandiford has his eye on qualifying for this summer’s Olympics in Tokyo

Tara Martin, head of the UBC Faculty of Forestry Conservation Decisions Lab, checks out some of the wildflowers that grow on SISCENEM, also known as Halibut Island located east off Sidney Island. Martin had brought the island to the attention of The Land Conservancy of British Columbia (TLC), which subsequently bought the island, then transferred ownership to WSANEC Leadership Council under a historic first. (Alex Harris/Submitted)
An Island of reconcilation: conservancy turns $1.55 million over to First Nation

SISȻENEM (Halibut Island), off Sidney, transfers to W̱SÁNEĆ Leadership Council under historic deal

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

Nanaimo RCMP want to speak with two people who might have spoken with the driver of a vehicle before it hit a pedestrian at the 7-Eleven store at University Village Mall Feb. 3. (Photos submitted)
Nanaimo RCMP ask for help with hit-and-run investigation

Police release photos of people of interest who spoke to the suspect driver just prior to incident

BC Emergency Health Services confirmed that a call was received just before 10 a.m. Ground paramedics, as well as an air ambulance, are on the way to the area. (SUSAN QUINN/ Alberni Valley News)
BREAKING: Helicopter goes down on Bowen Island

Unclear how many passengers aboard and unclear where the helicopter was going

Provincial health officer Dr. Bonnie Henry updates B.C. on the COVID-19 situation. (B.C. government)
Dr. Bonnie Henry predicts a ‘post-pandemic world’ for B.C. this summer

‘Extending this second dose provides very high real-world protection to more people, sooner’

Dr. Sandra Allison and Dr. Charmaine Enns joined school district senior staff for a virtual town hall meeting to address the latest COVID concerns in schools. Image, screenshot
No secondary cases in Comox Valley schools, say health officers

School district hosts virtual town hall to address recent COVID-19 cases in schools

Shiromali Krishnaraj arrives from India and receives a mandatory COVID-19 test at Pearson International Airport during the COVID-19 pandemic in Toronto on Monday, Feb. 1, 2021. B.C.’s approved rapid tests also use a nasal swab, with a machine to scan for COVID-19 antibodies. THE CANADIAN PRESS/Nathan Denette
B.C.’s rapid COVID-19 tests have produced only two positive results

Tests deployed for exposures in schools, outbreaks in care homes, jails

Office vacancy rates are rising in Greater Victoria while the supply of industrial land is shrinking. (Black Press Media File)
Report finds supply of industrial land in Greater Victoria shrinking

Office vacancy rates in Greater Victoria continue to rise

It’s been almost a year since the last public performance inside the Chemainus Theatre. (Photo by Don Bodger)
Donors pledge $60,000 in matching campaign at Chemainus Theatre

Perrys, Hiltons and Duncan Iron Works help to Bridge the Gap during COVID shutdown

Most Read