In February, sales volume blew through the roof compared to last year. With strong buyer demand and lower inventory, we anticipate brisk activity during the first quarter of 2021.

Sales Values

In February 2021, average sales prices were just under $375,000 compared to just under $360,000 last year, or 4% UP. Prices have strengthened since March 2020 and we anticipate that they will stay high. 

Days on Market

Buyers have been snapping up homes very quickly. Average days on market in February was only 50 days, compared to 60 days in 2020 and 63 days in 2019.

Sales Volume

Last year there were around 753 total sales registered in February and here we are at month end with 899 units reported sold, equal to a 19% increase over last year’s sales volume.

At month end, total available inventory was 4281 homes for sale, equal to a reduction 13%, compared to the end of February 2020 when 4929 units were available for sale.

My feeling is that against the backdrop of solid demand, low inventory and low interest rates, that the market will continue to perform strongly in 2021.

Look for my March 2021 report during the first week of April. Thank you.

About the author:

You can read more about the author of this blog by clicking this link – Stuart Neal Broker Owner & REALTOR^®.

Want more information about our full service affordable FLAT FEE home selling programs? Please feel free to call our broker owner Stuart Neal at: 780-760-2014 or visit our home sellers page www.FlatFeeRealtyAdvisors.ca