News: Vancouver Real Estate Market

Detached home prices increased 20.7% in the first quarter of 2022

According to the Royal LePage House Price Survey released today, the aggregate price of a home in Greater Vancouver increased 18.2% 1 year-over-year to $1,368,600 in the first quarter of 2022. Broken out by housing type, the median price of a single-family detached home increased 20.7% to $1,870,100, while the median price of a condominium increased 20.4% to $828,400 during the same period.

"While the supply of listings is beginning...

Home buyer demand returned to more typical levels in April.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,232 in April 2022, a 34.1% decrease from the 4,908 sales recorded a year ago, and a 25.6% decrease from the 4,344 homes sold last month.

April 2022 sales were 1.5% above the 10-year sales average for April.

"So far this spring, we've seen home sales ease down from the record-breaking pace of the last year," Daniel John, REBGV Chair...