In January, 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 January 2021, average sales prices were $368,589 compared to $353,227 last year or 4% UP. Prices have strengthened since March 2020 and we anticipate that they will remain higher, heading into 2021. Despite the effects of Covid 19, sales prices beat the previous year’s values in August, October and November and January 2021. 

Days on Market

Buyers have been snapping up homes very quickly. Average days on market in January was only 64 days, compared to 78 days in 2020 and 77 days in 2019.

Sales Volume

Last year there were around 551 total sales registered in January and here we are at month end with 782 units reported sold, equal to a 42% increase over last year’s sales volume.

At month end, total available inventory was 3966 homes for sale, equal to a reduction 12%, compared to the end of January 2020 when 4522 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 February 2021 report during the first week of March. 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