Buyers remain cautious to begin the fall market

Home sales registered on the MLS® in Metro Vancouver declined 3.8 per cent year over year in September, suggesting recent reductions in borrowing costs are having a limited effect in spurring demand so far.

Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,852 in September 2024, a 3.8 per cent decrease from the 1,926 sales recorded in September 2023. This was 26 per cent below the 10-year seasonal average (2,502).

“Real estate watchers have been monitoring the data for signs of renewed strength in demand in response to recent mortgage rate reductions, but the September figures don’t offer the signal that many are watching for.

Sales continue trending roughly 25 per cent below the ten-year seasonal average in the region, which, believe it or not, is a trend that has been in place for a few years now. With the September data, sales are now tracking slightly below our forecast however, but we remain optimistic sales will still end 2024 higher than 2023” Andrew Lis, GVR director of economics and data analytics

Read the full report on the REBGV website!

The following data is a comparison between September 2024 and September 2023 numbers, and is current as of October 2024. For last month’s update, you can check out our previous post!

Or follow this link for all our GVR Infographics!

These infographics cover current trends in several areas within the Greater Vancouver region. Click on the images for a larger view!

Printable Version – GVR September 2024 Data Infographic Report North Vancouver

Printable Version – GVR September 2024 Data Infographics Report West Vancouver

Printable Version – GVR September 2024 Data Infographics Report Vancouver West

Printable Version – GVR September 2024 Data Infographics Report Vancouver East

Printable Version – GVR September 2024 Data Infographic Report Maple Ridge

Printable Version – GVR September 2024 Data Infographics Report Pitt Meadows

Printable Version – GVR September 2024 Data Infographics Report Port Coquitlam

Printable Version – GVR September 2024 Data Infographics Report Coquitlam

Printable Version – GVR September 2024 Data Infographic Report Burnaby North

Printable Version – GVR September 2024 Data Infographics Report Burnaby South

Printable Version – GVR September 2024 Data Infographics Report Burnaby East

Printable Version – GVR September 2024 Data Infographics Report New Westminster

Printable Version – GVR September 2024 Data Infographics Report Richmond

Printable Version – GVR September 2024 Data Infographics Report Squamish

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Sellers await buyers’ return after quieter summer market

Home sales registered on the MLS® in Metro Vancouver remained below their ten-year seasonal averages in August as summer holidays come to a close.

Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,904 in August 2024, a 17.1 per cent decrease from the 2,296 sales recorded in August 2023. This total was also 26 per cent below the 10-year seasonal average (2,572).

“From a seasonal perspective, August is typically a slower month for sales than June or July. In this respect, this August has been no different. With that said, sales remain in a holding pattern, trending roughly 20 per cent below their 10-year seasonal average, which suggests buyers are still feeling the pinch of higher borrowing costs, despite two recent quarter percentage point reductions to the policy rate this summer.” Andrew Lis, GVR director of economics and data analytics

Read the full report on the REBGV website!

The following data is a comparison between August 2024 and August 2023 numbers, and is current as of September 2024. For last month’s update, you can check out our previous post!

Or follow this link for all our GVR Infographics!

These infographics cover current trends in several areas within the Greater Vancouver region. Click on the images for a larger view!

Printable Version – GVR August 2024 Data Infographic Report North Vancouver

Printable Version – GVR August 2024 Data Infographics Report West Vancouver

Printable Version – GVR August 2024 Data Infographics Report Vancouver West

Printable Version – GVR August 2024 Data Infographics Report Vancouver East

Printable Version – GVR August 2024 Data Infographic Report Maple Ridge

Printable Version – GVR August 2024 Data Infographics Report Pitt Meadows

Printable Version – GVR August 2024 Data Infographics Report Port Coquitlam

Printable Version – GVR August 2024 Data Infographics Report Coquitlam

Printable Version – GVR August 2024 Data Infographic Report Burnaby North

Printable Version – GVR August 2024 Data Infographics Report Burnaby South

Printable Version – GVR August 2024 Data Infographics Report Burnaby East

Printable Version – GVR August 2024 Data Infographics Report New Westminster

Printable Version – GVR August 2024 Data Infographics Report Richmond

Printable Version – GVR August 2024 Data Infographics Report Squamish

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Market shifting in buyers’ favour, though hesitation remains

Metro Vancouver home sales registered on the MLS® remained below seasonal and historical averages in June. With reduced competition among buyers, inventory has continued to accumulate to levels not seen since the spring of 2019.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,418 in June 2024, a 19.1 per cent decrease from the 2,988 sales recorded in June 2023. This was 23.6 per cent below the 10-year seasonal average (3,166).

“The June data continued a trend we’ve been watching where buyers appear hesitant to transact in volumes we consider typical for this time of year, while sellers remain keen to bring their properties to market.” Andrew Lis, GVR director of economics and data analytics

Read the full report on the REBGV website!

The following data is a comparison between July 2024 and July 2023 numbers, and is current as of August 2024. For last month’s update, you can check out our previous post!

Or follow this link for all our GVR Infographics!

These infographics cover current trends in several areas within the Greater Vancouver region. Click on the images for a larger view!

Printable Version – GVR July 2024 Data Infographic Report North Vancouver

Printable Version – GVR July 2024 Data Infographics Report West Vancouver

Printable Version – GVR July 2024 Data Infographics Report Vancouver West

Printable Version – GVR July 2024 Data Infographics Report Vancouver East

Printable Version – GVR July 2024 Data Infographic Report Maple Ridge

Printable Version – GVR July 2024 Data Infographics Report Pitt Meadows

Printable Version – GVR July 2024 Data Infographics Report Port Coquitlam

Printable Version – GVR July 2024 Data Infographics Report Coquitlam

Printable Version – GVR July 2024 Data Infographic Report Burnaby North

Printable Version – GVR July 2024 Data Infographics Report Burnaby South

Printable Version – GVR July 2024 Data Infographics Report Burnaby East

Printable Version – GVR July 2024 Data Infographics Report New Westminster

Printable Version – GVR July 2024 Data Infographics Report Richmond

Printable Version – GVR July 2024 Data Infographics Report Squamish

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Market shifting in buyers’ favour, though hesitation remains

Metro Vancouver home sales registered on the MLS® remained below seasonal and historical averages in June. With reduced competition among buyers, inventory has continued to accumulate to levels not seen since the spring of 2019.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,418 in June 2024, a 19.1 per cent decrease from the 2,988 sales recorded in June 2023. This was 23.6 per cent below the 10-year seasonal average (3,166).

“The June data continued a trend we’ve been watching where buyers appear hesitant to transact in volumes we consider typical for this time of year, while sellers remain keen to bring their properties to market.” Andrew Lis, GVR director of economics and data analytics

Read the full report on the REBGV website!

The following data is a comparison between June 2024 and June 2023 numbers, and is current as of July 2024. For last month’s update, you can check out our previous post!

Or follow this link for all our GVR Infographics!

These infographics cover current trends in several areas within the Greater Vancouver region. Click on the images for a larger view!

Printable Version – GVR June 2024 Data Infographic Report North Vancouver

Printable Version – GVR June 2024 Data Infographics Report West Vancouver

Printable Version – GVR June 2024 Data Infographics Report Vancouver West

Printable Version – GVR June 2024 Data Infographics Report Vancouver East

Printable Version – GVR June 2024 Data Infographic Report Maple Ridge

Printable Version – GVR June 2024 Data Infographics Report Pitt Meadows

Printable Version – GVR June 2024 Data Infographics Report Port Coquitlam

Printable Version – GVR June 2024 Data Infographics Report Coquitlam

Printable Version – GVR June 2024 Data Infographic Report Burnaby North

Printable Version – GVR June 2024 Data Infographics Report Burnaby South

Printable Version – GVR June 2024 Data Infographics Report Burnaby East

Printable Version – GVR June 2024 Data Infographics Report New Westminster

Printable Version – GVR June 2024 Data Infographics Report Richmond

Printable Version – GVR June 2024 Data Infographics Report Squamish

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Home sales down in May while inventory continues to increase

The number of transactions on the Multiple Listing Service® (MLS®) declined in May compared to what is typical for this time of year in Metro Vancouver1. This shift has allowed the inventory of homes available for sale to continue to accumulate with over 13,000 homes now actively listed on the MLS® in the region.

The Greater Vancouver REALTORS® (GVR)2 reports that residential sales in the region totalled 2,733 in May 2024, a 19.9 per cent decrease from the 3,411 sales recorded in May 2023. Last month’s sales total was also down 19.6 per cent from the 10-year seasonal average for May (3,398).

“The surprise in the May data is that sales have come in softer than what we’d typically expect to see at this point in the year, while the number of newly listed homes for sale is carrying some of the momentum seen in the April data.” Andrew Lis, GVR director of economics and data analytics

Read the full report on the REBGV website!

The following data is a comparison between May 2024 and May 2023 numbers, and is current as of June 2024. For last month’s update, you can check out our previous post!

Or follow this link for all our GVR Infographics!

These infographics cover current trends in several areas within the Greater Vancouver region. Click on the images for a larger view!

Printable Version – GVR May 2024 Data Infographic Report North Vancouver

Printable Version – GVR May 2024 Data Infographics Report West Vancouver

Printable Version – GVR May 2024 Data Infographics Report Vancouver West

Printable Version – GVR May 2024 Data Infographics Report Vancouver East

Printable Version – GVR May 2024 Data Infographic Report Maple Ridge

Printable Version – GVR May 2024 Data Infographics Report Pitt Meadows

Printable Version – GVR May 2024 Data Infographics Report Port Coquitlam

Printable Version – GVR May 2024 Data Infographics Report Coquitlam

Printable Version – GVR May 2024 Data Infographic Report Burnaby North

Printable Version – GVR May 2024 Data Infographics Report Burnaby South

Printable Version – GVR May 2024 Data Infographics Report Burnaby East

Printable Version – GVR May 2024 Data Infographics Report New Westminster

Printable Version – GVR May 2024 Data Infographics Report Richmond

Printable Version – GVR May 2024 Data Infographics Report Squamish

Custom real estate infographics published by myRealPage.com

Inventory reaches highest level since the pandemic summer of 2020

Actively listed homes for sale on the MLS® in Metro Vancouver continued climbing in April, up 42 per cent year-over-year, breaching the 12,000 mark, a number not seen in the region since the summer of 2020.

Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,831 in April 2024, a 3.3 per cent increase from the 2,741 sales recorded in April 2023. This was 12.2 per cent below the 10-year seasonal average (3,223).

“It’s a feat to see inventory finally climb above 12,000. Many were predicting higher inventory levels would materialize quickly when the Bank of Canada began its aggressive rate hikes, but we’re only seeing a steady climb in inventory in the more recent data. The surprise for many market watchers has been the continued strength of demand along with the fact few homeowners have been forced to sell in the face of the highest borrowing costs experienced in over a decade.” Andrew Lis, GVR director of economics and data analytics

Read the full report on the REBGV website!

The following data is a comparison between April 2024 and April 2023 numbers, and is current as of May 2024. For last month’s update, you can check out our previous post!

Or follow this link for all our GVR Infographics!

These infographics cover current trends in several areas within the Greater Vancouver region. Click on the images for a larger view!

Printable Version – GVR April 2024 Data Infographic Report North Vancouver

Printable Version – GVR April 2024 Data Infographics Report West Vancouver

Printable Version – GVR April 2024 Data Infographics Report Vancouver West

Printable Version – GVR April 2024 Data Infographics Report Vancouver East

Printable Version – GVR April 2024 Data Infographic Report Maple Ridge

Printable Version – GVR April 2024 Data Infographics Report Pitt Meadows

Printable Version – GVR April 2024 Data Infographics Report Port Coquitlam

Printable Version – GVR April 2024 Data Infographics Report Coquitlam

Printable Version – GVR April 2024 Data Infographic Report Burnaby North

Printable Version – GVR April 2024 Data Infographics Report Burnaby South

Printable Version – GVR April 2024 Data Infographics Report Burnaby East

Printable Version – GVR April 2024 Data Infographics Report New Westminster

Printable Version – GVR April 2024 Data Infographics Report Richmond

Printable Version – GVR April 2024 Data Infographics Report Squamish

Custom real estate infographics published by myRealPage.com

Increased seller activity is giving buyers more choice this spring

The number of Metro Vancouver homes listed for sale on the MLS® rose nearly 23 per cent year-over-year, providing more opportunity for buyers looking for a home this spring.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,415 in March 2024, a 4.7 per cent decrease from the 2,535 sales recorded in March 2023. This was 31.2 per cent below the 10-year seasonal average (3,512).

“If you’re finding the weather a little chillier than last spring, you may find some comfort in knowing that the market isn’t quite as hot as it was last spring either, particularly if you’re a buyer. Despite the welcome increase in inventory, the overall market balance continues inching deeper into sellers’ market territory, which suggests demand remains strong for well-priced and well-located properties.” Andrew Lis, GVR director of economics and data analytics

Read the full report on the REBGV website!

The following data is a comparison between March 2024 and March 2023 numbers, and is current as of April 2024. For last month’s update, you can check out our previous post!

Or follow this link for all our GVR Infographics!

These infographics cover current trends in several areas within the Greater Vancouver region. Click on the images for a larger view!

Printable Version – GVR March 2024 Data Infographic Report North Vancouver

Printable Version – GVR March 2024 Data Infographics Report West Vancouver

Printable Version – GVR March 2024 Data Infographics Report Vancouver West

Printable Version – GVR March 2024 Data Infographics Report Vancouver East

Printable Version – GVR March 2024 Data Infographic Report Maple Ridge

Printable Version – GVR March 2024 Data Infographics Report Pitt Meadows

Printable Version – GVR March 2024 Data Infographics Report Port Coquitlam

Printable Version – GVR March 2024 Data Infographics Report Coquitlam

Printable Version – GVR March 2024 Data Infographic Report Burnaby North

Printable Version – GVR March 2024 Data Infographics Report Burnaby South

Printable Version – GVR March 2024 Data Infographics Report Burnaby East

Printable Version – GVR March 2024 Data Infographics Report New Westminster

Printable Version – GVR March 2024 Data Infographics Report Richmond

Printable Version – GVR March 2024 Data Infographics Report Squamish

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Home sellers active, bring much-needed inventory to housing market

While Metro Vancouver1 home sellers appeared somewhat hesitant in January, new listings rose 31 per cent year-over-year in February, bringing a significant number of newly listed properties to the market.

Greater Vancouver REALTORS® (GVR)2 reports that residential sales3 in the region totalled 2,070 in February 2024, a 13.5 per cent increase from the 1,824 sales recorded in February 2023. This was 23.3 per cent below the 10-year seasonal average (2,699).

“While the pace of home sales started the year off briskly, the pace of newly listed properties in January was slower by comparison. A continuation of this pattern in February would have been concerning, as it could quickly tilt the market towards overheated conditions.” Andrew Lis, GVR director of economics and data analytics

Read the full report on the REBGV website!

The following data is a comparison between February 2024 and February 2023 numbers, and is current as of March 2024. For last month’s update, you can check out our previous post!

Or follow this link for all our GVR Infographics!

These infographics cover current trends in several areas within the Greater Vancouver region. Click on the images for a larger view!

Printable Version – GVR February 2024 Data Infographic Report North Vancouver

Printable Version – GVR February 2024 Data Infographics Report West Vancouver

Printable Version – GVR February 2024 Data Infographics Report Vancouver West

Printable Version – GVR February 2024 Data Infographics Report Vancouver East

Printable Version – GVR February 2024 Data Infographic Report Maple Ridge

Printable Version – GVR February 2024 Data Infographics Report Pitt Meadows

Printable Version – GVR February 2024 Data Infographics Report Port Coquitlam

Printable Version – GVR February 2024 Data Infographics Report Coquitlam

Printable Version – GVR February 2024 Data Infographic Report Burnaby North

Printable Version – GVR February 2024 Data Infographics Report Burnaby South

Printable Version – GVR February 2024 Data Infographics Report Burnaby East

Printable Version – GVR February 2024 Data Infographics Report New Westminster

Printable Version – GVR February 2024 Data Infographics Report Richmond

Printable Version – GVR February 2024 Data Infographics Report Squamish

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Home sales across Metro Vancouver’s housing market off to strong start in 2024

While the Metro Vancouver market ended 2023 in balanced market territory, conditions in January began shifting back in favour of sellers as the pace of newly listed properties did not keep up with the volume of home sales.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential sales in the region totalled 1,427 in January 2024, a 38.5 per cent increase from the 1,030 sales recorded in January 2023. This was 20.2 per cent below the 10-year seasonal average (1,788).

“It’s hard to believe that January sales figures came in so strong after such a quiet December, which saw many buyers and sellers delaying major decisions. If sellers don’t step off the sidelines soon, the competition among buyers could tilt the market back into sellers’ territory as the available inventory struggles to keep pace with demand.” Andrew Lis, REBGV director of economics and data analytics

Read the full report on the REBGV website!

The following data is a comparison between January 2024 and January 2023 numbers, and is current as of February 2024. For last month’s update, you can check out our previous post!

Or follow this link for all our REBGV Infographics!

These infographics cover current trends in several areas within the Greater Vancouver region. Click on the images for a larger view!

Printable Version – REBGV January 20243 Data Infographic Report North Vancouver

Printable Version – REBGV January 2024 Data Infographics Report West Vancouver

Printable Version – REBGV January 2024 Data Infographics Report Vancouver West

Printable Version – REBGV January 2024 Data Infographics Report Vancouver East

Printable Version – REBGV January 2024 Data Infographic Report Maple Ridge

Printable Version – REBGV January 2024 Data Infographics Report Pitt Meadows

Printable Version – REBGV January 2024 Data Infographics Report Port Coquitlam

Printable Version – REBGV January 2024 Data Infographics Report Coquitlam

Printable Version – REBGV January 2024 Data Infographic Report Burnaby North

Printable Version – REBGV January 2024 Data Infographics Report Burnaby South

Printable Version – REBGV January 2024 Data Infographics Report Burnaby East

Printable Version – REBGV January 2024 Data Infographics Report New Westminster

Printable Version – REBGV January 2024 Data Infographics Report Richmond

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Housing market resilient in 2023, ends year in balanced territory

Metro Vancouver’s housing market closed out 2023 with balanced market conditions, but the year-end totals mask a story of surprising resilience in the face of the highest borrowing costs seen in over a decade.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential sales in the region totalled 26,249 in 2023, a 10.3 per cent decrease from the 29,261 sales recorded in 2022, and a 41.5 per cent decrease from the 44,884 sales in 2021.

“You could miss it by just looking at the year-end totals, but 2023 was a strong year for the Metro Vancouver housing market considering that mortgage rates were the highest they’ve been in over a decade.”
Andrew Lis, REBGV director of economics and data analytics

Read the full report on the REBGV website!

The following data is a comparison between December 2023 and December 2022 numbers, and is current as of January 2024. For last month’s update, you can check out our previous post!

Or follow this link for all our REBGV Infographics!

These infographics cover current trends in several areas within the Greater Vancouver region. Click on the images for a larger view!

Printable Version – REBGV December 2023 Data Infographic Report North Vancouver

Printable Version – REBGV December 2023 Data Infographics Report West Vancouver

Printable Version – REBGV December 2023 Data Infographics Report Vancouver West

Printable Version – REBGV December 2023 Data Infographics Report Vancouver East

Printable Version – REBGV December 2023 Data Infographic Report Maple Ridge

Printable Version – REBGV December 2023 Data Infographics Report Pitt Meadows

Printable Version – REBGV December 2023 Data Infographics Report Port Coquitlam

Printable Version – REBGV December 2023 Data Infographics Report Coquitlam

Printable Version – REBGV December 2023 Data Infographic Report Burnaby North

Printable Version – REBGV December 2023 Data Infographics Report Burnaby South

Printable Version – REBGV December 2023 Data Infographics Report Burnaby East

Printable Version – REBGV December 2023 Data Infographics Report New Westminster

Printable Version – REBGV December 2023 Data Infographics Report Richmond

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