2021 Mid-Year Review

The first half of 2021 has been a half like no other. As B.C. emerges into Step 3 of our COVID-19 response, we move forward with cautious optimism.

Despite the difficult year, the real-estate market astonished us with its record-breaking performance in one of the most active periods in local history.

Andy Warhol, Dollar Sign (FS II.275), 1982, trial print 11/15, 19 ¾ x 15 5/8”, screenprint on Lenox Museum Board, Goodman + Jagger Collection, Vancouver

Setting new records

  • Multifamily came out as a Metro Vancouver favourite
  • Highest mid-year sales volume in decades: $1.6 billion
  • Mid-year dollar volume and number of transactions: Far greater in 2021 than 2020
  • Highrise sales predominated: 18 highrises out of 107 total sales total – largest number of concrete buildings traded in 30 years
  • Number of Metro Vancouver apartment building transactions: 248% rise compared to first half of 2020 (nearly 70% in City of Vancouver)
  • Largest number of Vancouver suites sold in decades
  • Goodman Commercial’s sales performance: We’ve done $350 million in sales volume comprising 17 transactions in the first 6 months of 2021!

Check out the trends

  • Pivot towards purpose-built rental construction in some cases, and away in others
  • New condo market re-emerging with development sales across region
  • Community amenity contribution (CAC) liability a major disincentive for investing in
    new rental projects
  • Rent freeze continues; expenses climb

The numbers are in. They’re here, we’ve got ’em, you know it. Open up for our insights and market data.

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