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North Delta Real Estate Market Update (December 2021)

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Suburban Home

North Delta December 2021 Sub Neighbourhood Highlights

North Delta Housing Market (Neighbourhood Overview)

Although the volume of listings in 2021 was high the supply could not keep up with the demand in North Delta and other parts of the Fraser Valley. The FVREB averaged 5,200 transactions each month. Historically low interest rates and the work from home ability realized during the pandemic drove desire for spacious homes in North Delta. It was still a seller’s market December 2021 in North Delta, BC with only 52 homes available for sale.

Anneville, North Delta Real Estate Highlights

There were 16 homes on the market and a total of 10 sold in December  2021. Homes in Annieville all sold for an average of $1,580,914, which is 8% more than the average list price. 

Nordel, North Delta Real Estate Highlights

In December 2021, 11 detached homes sold for an average sold price of $1,639,727. Homes in Nordel, North Delta were on the market for an average of 8 days  and they all sold for $1,350,000 or more. 

Scottsdale, North Delta Real Estate Highlights

11 homes quickly sold in Scottsdale in December 2021 with one home selling 2 days after being listed. Detached homes in Scottsdale had an average sold price of $1,727,891 which is $200,000 more than the average listing price. The market in Scottsdale, North Delta is hot!

Sunshine Hills Woods, North Delta Real Estate Highlights

There were 12 homes on the market and a total of 8 sold in December 2021. 6 detached homes sold in the Sunshine Hills Woods neighbourhood of North Delta, homes in this had an average of sold price of $1,646,446 which was $100,000 of the average list price for December 2021. 

December 2021 North Delta Real Estate Update

Average House Price in North Delta, BC

In December, 2021 homes in North Delta sold in an average of 7 days of being listed on MLS. The median price for homes in December was $1,586,500 and in November it was $1,502,500, which is a 5.6% increase!

***The median price is acquired by taking the middle sales price from the list of properties ranked highest to lowest that sold in North Delta in December 2020.  For example, if 67 homes were sold in North Delta when combining all the pocket neighbourhoods (Annieville, Nordel, Scottsdale and Sunshine Hills Woods), the sale price of the 34th home would be the median sales price.*** 

Median vs. Benchmark vs. Average

Median Price in North Delta for Single Detached Homes in December 2021: $1,586,500

Median Price in North Delta for Single Detached Homes in December 2020: $1,090,000

Percentage of change: 45.6%

[Median = the sale price of the property that sits in the middle of a compiled list of properties sold in a set period of time ranging from the highest sales price to the lowest sales price]

Benchmark Price in North Delta for Single Detached Homes in December 2021: $1,397,900

Benchmark Price in North Delta for Single Detached Homes in December 2020: $991,700

Percentage of change: 41.0%

[Benchmark = basically a sales price estimate of a “typical” home within a region; that of which is determined by a combination of popular features according to MLS®]

Average Price in North Delta for Single Detached Homes in December 2021: $1,667,755

Average Price in North Delta for Single Detached Homes  in December 2020: $1,126,500

Percentage of change: 48.0%

[Average = adding together all the home sales prices within that month and dividing it by the total number of home sold]

So, how much are homes selling in North Delta, BC?  

Each of the above price calculations has its limitations in terms of gaining insight about pricing a home. These numbers are best used as ballpark figures to gain a general understanding of the North Delta Real Estate market. The average home price in North Delta, December  2021, was $1,667,755  but there are many factors that come into play. For example the type of home sold and home features. Only  a realtor with experience in the area can best determine how much the property is worth. The best way to determine the home’s value is to find homes that have sold in your area with similar features to the one being priced. 

The best method to determine your home value is to find out what homes have recently sold in your neighbourhood that is similar to your home’s unique features (as mentioned above).  This is called a Home Evaluation or a Comparative Market Analysis (CMA).  As always, as your Top North Delta Real Estate Team, we can provide you with a FREE Home Evaluation and provide you with insight on recent homes sales that are similar to your home features and tips on how to increase the value of your property before putting it on MLS.

Last but not least, let’s take a quick look at the Supply and Demand in North Delta and how we determine if it’s a Sellers, Buyers or Balanced Market.  Demand is basically what sold in that month and supply is how many active listings there was that particular month.  This can help us determine where the market is currently sitting and possibly determine a trend in the North Delta Real Estate Market.

As you can see below, the last row shows October 2021’s demand and supply.  The inventory for homes in October reduced as compared to September, not because there are fewer listing homes but everything that is listed is going fast. The demand is still on the rise, making it yet another month of Seller’s Market. As we mentioned earlier we came to calculate a sales-to-active-listing-ratio of 81% (that is from 50 sales over 62 active listings).

2020 to 2021 North Delta Sales to Active Ratio

Explanation of Market types based on the Sales to Active Ratio

North Delta Real Estate Trends

It was the seller’s advantage in 2021 due to the high demand created from low interest rates and people’s desire for a more spacious home. The impact of the pandemic on the real estate market was hard to predict in the beginning of the year but the Bank of Canada’s decision to lower interest rates allowed many to purchase a home in 2021. Inventory could not keep up with demand in North Delta, BC causing home prices to increase each month.

This month’s Final Thoughts:  

Interest rates are going to remain low in the beginning of the year this means that the market will continue to trend the way it has in 2021. According to the FVREB sales of detached homes increased by 31.8% in 2021 from 2020. The volume of new listings was not able to keep up with the demand causing home prices to drastically increase. The market may move towards a normal when the interest rates go up  but it will continue to be a seller’s market in North Delta, BC.

If your interested in learning more about the Fraser Valley’s real estate market, read the FVREB’s stats here: http://www.fvreb.bc.ca/stats/ 

If you’re thinking of selling, this could be a great opportunity for an opportunist. If you’re wondering what your home is worth and how to place your home on the market to get top dollars, call us today at 604-648-7800!

As an awarding-winning team (Top 1% in all the Fraser Valley Real Estate Board Teams) and with your Top North Delta Realtor Sukh Brar leading the way, you will have a combined asset of over 20 years of local expert knowledge and guidance to best navigate this very hot and lucrative market.

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  • Sukh Brar Real Estate Group

    Sukh Brar Real Estate Group
    (604) 648-7800
    sales@sukhbrar.ca
    Top 1% Realtor according to the FVREB 2014-2019