Metro Vancouver home sales rise, listings fall
Mike Lloyd and Hana Mae Nassar - City News 1130 • September 15, 2021

VANCOUVER (NEWS 1130) – More people bought homes in Metro Vancouver in August but listings were down.
The REBGV says there were 3,152 home sales last month, which is a 3.4 per cent increase over the same time last year. The month saw 4,032 new listings, down 30.6 per cent from 5,813 last August and off 7.9 per cent from 4,377 in July.
“Listings activity isn’t keeping up with the pace of demand. This is leaving the market under supplied,” said Keith Stewart, an REBGV economist.
The board notes that is keeping pressure on prices, adding housing supply is the biggest factor currently at play.
“To help relieve pressure on prices and improve peoples’ home buying options, the market needs a more abundant supply of homes for sale,” Stewart said. “Housing affordability has been a key issue in the federal election.”
The board notes that is keeping pressure on prices, adding housing supply is the biggest factor currently at play.
“To help relieve pressure on prices and improve peoples’ home buying options, the market needs a more abundant supply of homes for sale,” Stewart said. “Housing affordability has been a key issue in the federal election.”
The REBGV is encouraging Canada’s political parties to put a focus on solutions that will help create “more diverse housing options for hopeful home buyers” for years to come.
The board says its multiple listing service composite benchmark price for all residential properties reached $1,176,600 in August, up 13.2 per cent from the same period last year and a 0.1 per cent increase from July.
There are currently 9,005 homes listed for sale on the MLS system in the Metro Vancouver region.
The board says its multiple listing service composite benchmark price for all residential properties reached $1,176,600 in August, up 13.2 per cent from the same period last year and a 0.1 per cent increase from July.
There are currently 9,005 homes listed for sale on the MLS system in the Metro Vancouver region.

As the urban sprawl of Vancouver, B.C., and nearby Langley pushes land prices higher, Aldor Acres Family Farm’s decision to keep the farm in the family for another generation makes it an anomaly. However, the next generation to run the popular agri-tourist destination inherits the challenge of preserving the farm’s values while their way of life declines around them. “When I grew up in this area, 2 per cent of my high school class was non-agricultural,” says Albert Anderson, 82, who bought the Glen Valley farmland alongside his wife, Dorothy, 81, in 1977. “Now it’s the other way around; maybe 2 per cent of the people in this area are connected with agriculture.” Over the years, the Andersons have turned those 80 acres of land near Fort Langley into a destination with a pumpkin patch, seasonal market, wagon rides, and farm animals, emphasizing an educational experience for visitors. During the October high season, Aldor Acres can have 4,000 visitors in a day. The Andersons are in the process of transferring the farm business to their granddaughter, Melissa Anderson, 37. Across Canada, family farms are facing a similar transition. Data from RBC found that by 2033, 40 per cent of farm operators will retire, one of the biggest labour and leadership transitions in Canada’s history. The next generation to take over the farm will face the allure of rising land values. For many multi-generational farms, the strategy is to wait for the city’s expansion, says Elaine Froese, a Manitoba-based family farm transition expert. “I’ve worked all over Canada, (some family farms) are sitting on $20-million worth of land, and they’re very clear that they’re keeping the hog line going until that little village or town encroaches on them and then they’re selling out to developers,” she says. “That’s the reality.” Read More