(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

Alycia Weir (left) and Helena Oosthoek (right) of the Golden Family Center stand outside of the GFC building at their Bell Lets Talk stand last February. They are currently raising funds to help support their drop-in counselling program. (Claire Palmer photo)
Family center fundrasing for free counselling program

It’s important to have accesible care in the community

Interior Health reported 33 new COVID-19 cases on March 5. (Black Press Files)
Interior Health reports 33 new COVID-19 cases on March 5

Over 300,000 vaccine doses have been administered provincewide.

Ryan Bavin of Bavin Glassworks in Invermere. Photo: Submitted
Call for entries for Columbia Basin Culture Tour

Deadline for registration for artists and venues is April 15

A nurse performs a test on a patient at a drive-in COVID-19 clinic in Montreal, on Wednesday, October 21, 2020. THE CANADIAN PRESS/Paul Chiasson
36 new cases of COVID-19, one death in Interior Health

The number of active cases in the region is at 366

Map showing geographic distribution of COVID cases in BC. (BC CDC photo)
1 new case of COVID-19 in Golden area to close out February

There were only two reported cases in the area for the month

About 50 people gathered Friday, March 5, 2021 in Penticton to protest city council’s decision to close a temporary winter shelter. (Jesse Day - Western News)
WATCH: Protest over Penticton shelter draws large crowd

People are gathering in Gyro Park to protest the closure of a winter shelter

Malawian police guard AstraZeneca COVID-19 vaccines after the shipment arrived in Lilongwe, Malawi, Friday March 5, 2021. Canada is expecting its first shipments of AstraZeneca vaccine next week. (Associated Press/Thoko Chikondi)
B.C.’s daily COVID-19 cases climb to 634 Friday, four more deaths

Currently 255 people in hospital, 66 in intensive care

A crashed helicopter is seen near Mt. Gardner on Bowen Island on Friday March 5, 2021. Two people were taken to hospital in serious but stable condition after the crash. (Irene Paulus/contributed)
2 people in serious condition after helicopter goes down on Bowen Island

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

Surrey Pretrial in Newton. (Photo: Tom Zytaruk)
B.C. transgender inmate to get human rights hearing after being held in mostly male jail

B.C. Human Rights Tribunal member Amber Prince on March 3 dismissed the pretrial’s application to have Makayla Sandve’s complaint dismissed

Supporters rally outside court as Pastor James Coates of GraceLife Church is in court to appeal bail conditions, after he was arrested for holding day services in violation of COVID-19 rules, in Edmonton, Alta., on Thursday March 4, 2021. THE CANADIAN PRESS/Jason Franson
‘Law remains valid:’ Pastor accused of violating health orders to remain in jail

The Justice Centre for Constitutional Freedoms is representing the pastor

Paramjit Bogarh, connected to the murder of his wife in Vernon 35 years ago, has been relerased on full parole, one year after he was sentenced to five years in prison for accessory after the fact. (Contributed)
Full parole for ex-Okanagan man who helped wife’s alleged killer escape

Paramjit Bogarh pleaded guilty to accessory to murder after helping brother flee Canada

The Princeton Traditional Music Festival, normally held in August, was denied a grant due to COVID. (File photo)
COVID makes some of the 2021 grant decisions for Princeton council

Municipality doles out funds while striving to meet policy

The Netflix logo on an iPhone. B.C. delayed imposing sales tax on digital services and sweetened carbonated beverages as part of its response to COVID-19. Those taxes take effect April 1, 2021. THE CANADIAN PRESS/AP, Matt Rourke
B.C. applies 7% sales tax on streaming, vaping, sweet drinks April 1

Measures from 2020 budget were delayed due to COVID-19

Most Read