Townhouse and Condo Sales Skyrocket
Detached houses have been the headline news in Metro Vancouver for the past year, but we believe February marked the beginning of a major shift towards the townhouses and condominium sector.
February townhouses sales were up to 82% year-over-year and condo apartment sales were 65% higher.
Together, strata property sales accounted for nearly 65% of all February 2021 transactions, with condo apartments leading all sectors with a blistering pace of 62 sales every day.
Condo developers reported a “sense of urgency” in new condo sales in February as 1400 new condos started construction and 1759 existing condos sold.
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