January Market Update

Without hesitation, the first month of 2021 saw a continued level of demand that has outpaced incoming supply.

During a historically slower month for sales, we've kicked off the year in an environment that is increasingly competitive.

Check out summary of January stats below!

- 36.4% increase in sales (2,389) compared to the 10-year January sales average
- 52.1% increase in sales compared to January 2020
- 22.8% decrease in sales compared to December 2020, due to constricted levels of inventory

How does this affect market pricing? Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

To give these ratios context, see supply stats below:

- 4,480 properties newly listed in Metro Vancouver in January 2021 
- 15.7% increase compared to January 2020 when  3,872 properties were listed
- 86% increase compared to December 2020 when 2,409 properties were listed

This market offers great benefits for both buyers and sellers. Those looking to buy can count on record low mortgage rates, while those who have property to sell can look to a market starved of inventory, allowing a strong market for even the a-typical floorplans or compromised properties. 


Chris Strand

Chris is an award winning, Greater Vancouver Realtor with over 8 years of experience and a portfolio of over 800 homes sold across resale & new development.

Chris' successful career in real estate started in project sales, where he worked with local residential developers to market and sell new townhome and condominium buildings. His success in sales, paired with his natural ability to foster relationships stakeholders, allowed him to move into a management position as the Regional Sales Manager for one of Vancouver's top real estate sales and marketing firms. Chris worked with a portfolio of renowned developers to plan and execute sales and marketing strategies for residential developments across Greater Vancouver.

With an entrepreneurial craving to satisfy and a wealth of experience in hand, building a business to be proud of was a must. This led to joining forces with Oakwyn Realty, Vancouver's most innovative brokerage and the most organic alignment, where he helps home owners and buyers reach their goals.

Chris prides himself in his ability to navigate his way through any home sale, making buying or selling homes a memorable and stress-free experience. Having experience negotiating the fine print on $100M+ residential developments, clients can feel confident in Chris' ability to find success in the purchase or sale of their future home.

With a wealth of experience in the industry and a passion for creating memorable experiences for his clients, Chris offers a full range of services to prospective home buyers and sellers as well as residential developers.