September in Real Estate
The monthly statistics report just came out for the month of September and it’s been my ritual for a full year now to read all the reports and share a summary with the Discovery Islander readers. When I write these summaries I don’t use my opinions or my own spin on things, I directly quote snippets from the reports, so please don’t shoot the messenger.
I’m re-evaluating if my column is seen as valuable information for readers and am curious if people are actually finding it helpful at all.
I would greatly appreciate to receive some feedback. Please text me at 604-787-4594 or call me at home 250-285-2141. All feedback is greatly appreciated and confidential.
Campbell River
Vancouver Island Real Estate Board (VIREB) reported for the month of September:
“The housing market in the Vancouver Island Real Estate Board (VIREB) area finished summer the way it began, with historically low inventory and rising prices. Active listings of single-family homes were 47 per cent lower last month than in September 2020, while VIREB’s inventory of condo apartments and row/townhouses dropped by 57 per cent and 48 per cent, respectively, from one year ago.
In Campbell River, the benchmark price of a single-family home hit $653,700 in September, up by 29 per cent from the previous year. In the Comox Valley, the year-over-year benchmark price rose by 31 per cent to $771,300. The Cowichan Valley reported a benchmark price of $755,000, an increase of 34 per cent from September 2020. Nanaimo’s benchmark price rose by 28 per cent, hitting $745,400, while the Parksville-Qualicum area saw its benchmark price increase by 33 per cent to $869,000. The cost of a benchmark single-family home in Port Alberni reached $494,500, a 40 per cent year-over-year increase. The benchmark price for the North Island rose by 49 per cent, hitting $404,100 in September.”
Quadra Island
Quadra Island saw 4 listings sold (pending completion) and 2 new listings.
If you would like more details including “sold prices” go to my website and sign up for free to the members only area that will provide that information www.quadrarealty.ca
Cortes Island
Cortes Island also saw 4 listings sold (pending completion) and 2 listings expired.
If you would like more details including “sold prices” go to my website and sign up for free to the members only area that will provide that information www.quadrarealty.ca
Calgary
“While sales activity in the fall tends to be slower than in the spring months, the continued strong sales are likely being driven by consumers who were unable to transact earlier in the year when supply levels had not yet adjusted to demand,” said Calgary Real Estate Board (CREB®) chief economist Ann-Marie Lurie. “The market continues to favour the seller, but conditions are not as tight as they were earlier this year.”
Benchmark price of a detached home in the city of Calgary: $537,500 up 10% Year over Year.
Benchmark price of a semi-detached home in the city of Calgary: $424,900 up 8.4% Year over Year.
Benchmark price of a row-home in the city of Calgary: $299,600 up 7.2% Year over Year.
Benchmark price of an apartment in the city of Calgary: $253,200 up 1.2% Year over Year.”
Vancouver
“Home sale activity remains elevated across Metro Vancouver’s housing market while the pace of homes being listed for sale continues to follow long-term averages.
The summer trend of above-average home sales and historically typical new listings activity continued in Metro Vancouver last month. Although this is keeping the overall supply of homes for sale low, we’re not seeing the same upward intensity on home prices today as we did in the spring,” Keith Stewart, Real Estate Board of Greater Vancouver (REBGV) economist said.
The benchmark price for a detached home is $1,828,200. This represents a 20.4 per cent increase from September 2020.
The benchmark price of an apartment home is $738,600. This represents an 8.4 per cent increase from September 2020.
The benchmark price of an attached home is $963,800. This represents a 17.5 per cent increase from September 2020.
Toronto
“September marked the transition from the slower summer market to the busier fall market in the Greater Toronto Area (GTA). Every year, we generally see an uptick in sales, average selling price and listings after Labour Day, and September 2021 was no different. Sales increased relative to August and were also at the third-highest mark on record for the month of September. The average selling price was up both month-over-month and year-over-year.
The average price for a detached home in area (416) is $1,778,928. This represents a 19.5 per cent increase from September 2020.
The average price of a semi-detached home (416) is $1,304,504. This represents a 13.9 per cent increase from September 2020.
The average price of a townhouse is $930,056. This represents a 7.2 per cent increase from September 2020.
The average price of a condo is $744,730. This represents a 8.5 per cent increase from September 2020”, as reported by the Toronto Regional Real Estate Board (TREBB)
Are you thinking of selling your home? Call me for a free home evaluation.
Roman Krzaczek REALTOR ®
Home number: 250-285-2141