News: Vancouver Real Estate Market

Royal LePage expects sidelined buyers to re-engage this quarter ahead of expected rate cuts by the Bank of Canada.

National Summary

National aggregate home price increased 4.3% year over year in Q4 2023; decreased 1.7% quarter over quarter. Aggregate home price in greater regions of Toronto, Montreal and Vancouver posted gains of 5.1%, 4.1% and 2.7% year over year, respectively, in final quarter of 2023.

Among report’s major regions, Calgary recorded highest year over year price appreciation (10.7%);...

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 In 2023, Metro Vancouver’s housing market closed out with balanced market conditions, but the year-end totals there is a story of surprising resilience in the face of the highest borrowing costs seen in over a 10 years. 


The Real Estate Board of Greater Vancouver (REBGV) reports that there was a total of 26,249 residential sales in the region 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. ...

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