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February 2021

Found 15 blog entries for February 2021.

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This month’s COVID-19 Recovery Dashboard shows that home sales once again set a record. While sales were strong across the province, the Fraser Valley, Thompson Okanagan, and Vancouver Island regions shattered previous sales records and pushed January sales to new heights. The rise in COVID-19 cases and enhanced health restrictions have slowed employment recovery in select sectors, particularly in hospitality. Meanwhile, the number of people employed in higher-wage positions continues to increase, encouraging housing demand. Manufacturing and trade are back to pre-pandemic levels, which bodes well for BC's economic growth going forward. For a more comprehensive overview of BC's economic recovery, click here

About BCREA’s COVID-19

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Highly desirable Chateauneuf building


Welcome to 306 - 1149 Rockland a large two bedrooms two bathroom suite found at the back of the building for maximum privacy. 

The highly desirable Chateauneuf building is located in the charming Rockland/Cook street village and is surrounded by mature gardens and stunning grounds. 

This home is move-in ready and freshly painted or a Buyer could update further with this home priced below assessed value. 

Two balconies to take advantage of the sun all day long and large windows creating loads of light. 

A desirable floor plan with the bedrooms separated and an open floor plan with a large family room, separate dining room, and galley kitchen. 

In-suite laundry, separate storage, parking

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Large 5 bedroom home with a 2 bedroom suite on a generous sized lot in the Westshore


Welcome to 1014 Sandalwood Court, a five-bedroom plus den home in the Westshore including a two-bedroom suite for added income. 

South facing with loads of parking on a family-friendly street. 

The hub of the home features a large great room with vaulted ceilings and a cozy fireplace, with an open concept design to the dining room. 

Also attached is a spacious kitchen including ample cabinetry and countertop space as well as an island perfect for entertaining and stainless steel appliances. 

Off of the kitchen and dining room is a private deck overlooking your completely fenced back yard big enough for gardening, trampoline, and the kids or Fido

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Canadian Inflation (Nov) - December 15, 2020

Canadian retail sales fell in December by 3.4% m/m on a seasonally-adjusted basis. This is the first decline since April 2020. Sales were down in 9 of 11 subsectors, representing 84% of retail sales. Compared to the same time last year, retail sales were up by 3.3%.  
Sales were down in all provinces for the first time since April 2020. In BC, seasonally-adjusted retail sales fell by 2.2% ($7.9 billion) and by 2.1% ($3.5 billion) in Vancouver. Contributing the most to the decline were sales at auto dealers. Compared to the same time last year, BC retail sales were up by 8.9%.   

In December, Canadian e-commerce sales totaled $4.7 billion, reaching a record high and accounted for 7.8% of

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Investors? Meticulously maintained, updated, and upgraded top to bottom Saanich home


Attention Investors! Excellent revenue, tenants wish to stay. Rented up, down and garage.

Will also suit buyers from out of town not wanting immediate possession.

Need space for home business, hobbies, entertaining, extended family, and more?

Look no farther, the needle in the haystack has arrived in this meticulously maintained, updated, and upgraded top to bottom Saanich home.

The opportunities are endless: fully furnished Airbnb, home-based business, two-bedroom suite, main with deluxe master suite, separate dressing room, office and gym or guest room, with much versatility as they can be separated into a number of different spaces

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Beautiful Updated 5 Bedroom Home in Sooke


Welcome to 2013 Govenlock Place in beautiful Sooke BC. 

Updated with new floors, paint, deck, lighting, driveway and roof this generous-sized 5 bedroom and den home located at the end of a quiet street is sure to impress. 

On the main level, you will find an office or den with large bay windows, a three-piece bath with a live edge countertop and river-rock shower, and a large two-bay garage.

Upstairs is a very large open concept dining and family room surrounded by large windows creating a bright happy space. 

The cozy pellet stove warms the entire house creating both charm and reduced heating costs. 

A large glass slider leads out to a south-facing sun-drenched deck perfect for

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Canadian Inflation (Jan) - February 17, 2021

Canadian inflation, as measured by the Consumer Price Index (CPI) rose by 1.0% in January year-over-year. The increase was largely due to higher gasoline prices (6.1%). Excluding gasoline, the CPI rose by 1.3%, which is up from 1.0% in December. Prices rose in seven of eight components year-over-year in January. Growth in the Bank of Canada's three measures of trend inflation inched up slightly, averaging 1.5%. 

Regionally, the CPI was positive in eight provinces, led by Newfoundland and Labrador (1.5%). In BC, CPI rose by 1.1% in January year-over-year, up from December's increase of 0.8%. Strong price growth continued for health and personal care and shelter. Home furnishings also pulled

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Canadian Housing Starts (Jan) - February 16, 2021

Canadian housing starts increased by 23% m/m to 282,428 units in January at a seasonally adjusted annual rate (SAAR), following a 12% decrease in the previous month. Housing starts increased in 6 of 10 provinces with the strongest gains in Quebec and Ontario. January's strong performance increased the six-month moving average to a historic high of 244,963 units SAAR.  

In BC, housing starts decreased by 17% m/m to 35,931 units SAAR in January, following a 12% decrease in the previous month. Building activity was down by 28% for multi-unit starts, while single-detached starts were up by 38% in January. Compared to the same time last year, housing starts were up by 24% in BC. 

We can expect

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Record low inventory coupled with persistent demand continued on into the new year. The Vancouver Island Real Estate Board area, in the first month of 2021, had 286 single family homes sold, up 66% from the same month last year. Condo sales also increased year over year as many buyers were pushed into this segment (up 46%). In a slight respite from the flurry of activity though, sales were actually down 5% and 26% respectively, compared to December 2020 board-wide.

Very likely, the slight decrease in sales from December to January is actually a product of the dwindling inventory. The end of January saw 420 active single family homes available on the market (compared to 421 at the end of December) and 212 condos (down 9% from December). January is

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bcrea stats release

A Record-Setting Start to 2021

stat release may 13 2020  

Vancouver, BC – February 11, 2021. The British Columbia Real Estate Association (BCREA) reports that a total of 7,169 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in January 2021, an increase of 63.3 per cent over January 2020 and over a thousand sales higher than the previous record for the month of January. The average MLS® residential price in BC was $845,169, a 16.1 per cent increase from $728,269 recorded in January 2020. Total sales dollar volume was $6.1 billion, an 89.6 per cent increase from last year.

“It was once again a record-setting month for the provincial housing market,” said BCREA Chief Economist Brendon Ogmundson. “While sales were strong across all regions of

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