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Single detached home prices in Vancouver rose more than condo prices at end of 2020

The price of an average home in Metro Vancouver increased at the end of 2020, the most significant jump being in the detached home category. ....

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Royal LePage: More than half of Canada's largest real estate markets see double-digit price growth as national home values soar 9.7% in fourth quarter

Price of detached homes continue to outpace condominiums as Canadians trade location for square footage
Despite strong push toward the suburbs, Toronto and Montreal single-family homes see double-digit price gains in city centres
Median price of a two-storey home in Greater Vancouver rises 8.8% as buyers prioritize square footage
Out-of-region buyers spur Maritimes home prices, as option of remote work and demand for large, affordable properties grows
Aggregate price of a home in Canada rose $206,815 since Q4 2015
TORONTO, Jan. 15, 2021 /CNW/ - According to the Royal LePage House Price Survey released today, the aggregate
1 price of a home in Canada increased 9.7 per cent year-over-year to $708,842 in the fourth quarter of 2020, as strong seller s market conditions continued to shape Canada s real estate market through the end of the year. The significant year-over-year increase in aggregate price was driven by price gains for larger properties. Sixt ....

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Average house price in Metro Vancouver forecast to jump 9% in 2021:

“I am confident we will continue to see prices rise next year. Vancouver has proven to be a rather resilient market, with high demand and quite low inventory,” said Randy Ryalls, managing broker, Royal LePage Sterling Realty, in a statement on the report.
“In March, we couldn’t have imagined this is where we’d be today, but despite public health concerns, consumer confidence remains high. With very attractive mortgage rates and the promise of a vaccine on the horizon, demand is likely to remain strong.”
Ryalls noted that the current market conditions create a tough situation for buyers, who are oftentimes competing for properties; something he expects is likely to continue through 2021. ....

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Average house price in Greater Vancouver set to jump nearly 10 per cent in 2021, report says

VANCOUVER
Next year is shaping up to be a seller’s market, according to real estate company Royal LePage.
The company has released its market survey forecast for 2021, predicting that the median price of a detached home in Greater Vancouver will increase by 9 per cent, from $1,158,400 to $1,262,600.
The company’s managing broker, Randy Ryalls, said in a release, “I am confident we will continue to see prices rise next year. Vancouver has proven to be a rather resilient market, with high demand and quite low inventory.”
Demand for two-storey detached homes is also expected to increase, pushing the median price up 10 per cent from $1,519,700 to $1,671,700. ....

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NetNewsLedger - Demand for Homes Resulting in Increases Real Estate Prices

NetNewsLedger
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TORONTO – BUSINESS – Residential real estate is surging. Demand for housing has exceeded supply through the last half of 2020. This has put pressure on home prices, which Royal LePage says, in their Market Survey Forecast predicts a five and a half per cent increase in the price of the average home in 2021.
The price of a home in Canada in 2021 across the country will be $745,100, while the median price of a two-storey detached house or condominium will be projected to rise by six per cent, and 2.25 percent respectively to $890,100 and $522,700.
“The leading indicators we analyze are pointing to a market that favours property sellers in the all-important spring of 2021,” said Phil Soper, president and CEO, Royal LePage. “Across the country, a large number of hopeful buyers intent on improving their housing situation were not able to find the home they were looking for this year, as the inventory of properties for sale came n ....

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