News: Vancouver Real Estate Market

With listing activity remaining below historical norms, home sales in Metro Vancouver have mounted a surprising comeback, rising near levels seen last spring, before eight consecutive interest rate hikes eroded borrowing power and brought home sales activity down along with it.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,741 in April 2023, a 16.5 per cent decrease from the 3,281 sales recorded in April 2022, and 15.6 per cent below...

Home prices in Metro Vancouver's housing market saw modest increases in March, despite new listings remaining below long-term historical averages. However, data from March suggests that home sales are performing better than expected for the spring season, even with elevated borrowing costs.

The Real Estate Board of Greater Vancouver reports that residential home sales in the region totaled 2,535 in March 2023, a 42.5% decrease from the 4,405 sales recorded in March 2022 and 28.4% below the 10-year...

Home sale activity across the Metro Vancouver housing market continued to trend well below historical averages in October.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,903 in October 2022, a 45.5% decrease from the 3,494 sales recorded in October last year, and a 12.8% increase from the 1,687 homes sold in September 2022. Last month's sales were 33.3% below the 10-year October sales average.

"Inflation and rising interest rates continue...

With interest rates and housing supply increasing, Metro Vancouver* home buyers are operating in a changing marketplace to begin the summer season.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,444 in June 2022, a 35% decrease from the 3,762 sales recorded in June 2021, and a 16.2% decrease from the 2,918 homes sold in May 2022.

Last month’s sales were 23.3% below the 10-year June sales average.

"Home buyers have more selection...

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,918 in May 2022, a 31.6% decrease from the 4,268 sales recorded in May 2021, and a 9.7% decrease from the 3,232 homes sold in April 2022.

Last month’s sales were 12.9% below the 10-year May sales average....

Metro Vancouver's housing market saw more moderate sales, listings and pricing trends in July compared to the heightened activity experienced throughout much of the pandemic.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,326 in July 2021, a 6.3% increase from the 3,128 sales recorded in July 2020, and an 11.6% decrease from the 3,762 homes sold in June 2021.

Last month's sales were 13.3% above the 10-year July sales average.

"Moderation...

The Metro Vancouver housing market saw steady home sale and listing activity in May, a shift back from the record-breaking activity seen in the earlier spring months.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 4,268 in May 2021, a 187.4% increase from the 1,485 sales recorded in May 2020, and a 13% decrease from the 4,908 homes sold in April 2021.

Last month’s sales were 27.7% above the 10-year May sales average.

"While home...

Home sellers have become increasingly active in Metro Vancouver's housing market this spring in response to heightened demand and rising home values that have materialized during the pandemic.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 4,908 in April 2021, a 342.6% increase from the 1,109 sales recorded in April 2020, and a 14% decrease from the 5,708 homes sold in March 2021.

Last month's sales were 56.2% above the 10-year April sales...

Home buyer and seller activity reached unprecedented levels across Metro Vancouver in March.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 5,708 in March 2021, an increase of 126.1% from the 2,524 sales recorded in March 2020, and an increase of 53.2% from the 3,727 homes sold in February 2021.

Last month's sales were 72.2% above the 10-year March sales average and is the highest monthly sales total ever recorded in the region....

In January 2021, Metro Vancouver’s housing market continued the pattern set at the end of last year with home sale activity outpacing the supply of homes listed for sale.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,389 in January 2021, a 52.1% increase from the 1,571 sales recorded in January 2020, and a 22.8% decrease from the 3,093 homes sold in December 2020.

Last month’s sales were 36.4% above the 10-year January sales...

• Price of detached homes continue to outpace condominiums as Canadians trade location for square footage
• Despite strong push toward the suburbs, Toronto and Montreal single-family homes see double-digit price gains in city centres
• Median price of a two-storey home in Greater Vancouver rises 8.8% as buyers prioritize square footage
• Out-of-region buyers spur Maritimes’ home prices, as option of remote work and demand for large, affordable properties grows
• Aggregate...

Strong December home sales brought Metro Vancouver's* 2020 sales total in line with the long-term annual average.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totaled 30,944 in 2020, a 22.1% increase from the 25,351 sales recorded in 2019, and a 25.7% increase from the 24,619 homes sold in 2018.  

Last year's sales total was 2.8% below the 10-year sales average.  

"When the pandemic began in March, the housing market came to a near...

In January 2020, a total of 4,426 residential units were recorded by the Multiple Listing Service® (MLS®), as reposted by the British Columbia Real Estate Association (BCREA). This was an increase of 23.7% when compared to 3,579 units sold in January 2019.

The total sales dollar volume was $3.2 billion in January, which is a 35% increase over 2019. The average MLS® residential price in BC was $725,370, a 9.1% increase from $664,633 recorded the previous year.

"Housing markets in BC are...