Frenzy of real estate sales in 2021 means B.C. is starting the new year with lowest-ever number of active listings

Despite a full year of COVID-19 impacts, the number of homes sold in British Columbia broke a record, as did the sales dollar volume.

Despite a full year of COVID-19 impacts, the number of homes sold in British Columbia broke a record, as did the sales dollar volume.

A total of 124,854 residential units were sold in 2021, according to a report from the B.C. Real Estate Association based on data from the Multiple Listing Service (MLS).

That's up from 94,001 units the year before – an increase of 32.8 per cent – and a record number of sales in the province, the BCREA said Wednesday.

And it was a good year for sellers, with the average price up 18.7 from the previous year. Homes across B.C. sold for an average of $927,877, compared to $781,572 in 2020.

The total sales dollar volume for the year was a whopping $115.8 billion, the BCREA said. That's up nearly 60 per cent from 2020.

"Listings activity could not keep up with demand," the association's chief economist, Brendon Ogmundson, said in a news release.

Seven market areas in B.C. saw new sale highs, he said.