News: Vancouver Real Estate Market

Home sales registered in the MLS® in Metro Vancouver increased 28% year-over-year in November, building on the momentum of the 30 % year-over-year rise seen in October. 

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totaled 2,181 in November 2024, a 28.1% increase from the 1,702 sales recorded in the same month last year. This was 12.8% below the 10-year seasonal average (2,500). 

“When we saw demand pick up in October, there was still a question over...

After months of tracking approximately 20% below the ten-year seasonal average, Metro Vancouver home sales surged more than 30% year-over-year in October.

The Greater Vancouver REALTORS® (GVR) reports that residential sales registered on the Multiple Listing Service® (MLS®) in the region totalled 2,632 in October 2024, a 31.9% increase from the 1,996 sales recorded in October 2023. This was 5.5% below the 10-year seasonal average (2,784).

“Typically, reductions to mortgage rates boost demand,...

Home sales registered on the MLS® in Metro Vancouver declined 3.8% 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% decrease from the 1,926 sales recorded in September 2023. This was 26% below the 10-year seasonal average (2,502).

“Real estate watchers have been monitoring the data for signs of renewed...

Home sales registered on the MLS® in Metro Vancouver remained below their 10 year seasonal averages in August as summer holidays come to a close. 

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,904 in August 2024, a 17.1% decrease from the 2,296 sales recorded in August 2023. This total was also 26% 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...

Newly listed properties registered on the Multiple Listing Service® (MLS®) rose nearly 20% year over year in July, helping to maintain a healthy level of inventory in the Metro Vancouver housing market. 

On the demand side, the Greater Vancouver REALTORS®2 (GVR) reports that residential sales in the region totalled 2,333 in July 2024, a 5% decrease from the 2,455 sales recorded in July 2023. This was 17.6% below the 10-year seasonal average (2,831).

“The trend of buyers remaining hesitant, that...

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 totaled 2,418 in June 2024, a decrease of 19.1% from the 2,988 sales recorded in June 2023. This was 23.6% below the 10-year seasonal average (3,166).

“The June data continued a trend we’ve been...