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〰️ 𝗥𝗲𝗮𝗹 𝗘𝘀𝘁𝗮𝘁𝗲 𝗡𝗲𝘄𝘀〰️
💹Metro Vancouver Market Highlights
📆September 2023

Posted by carolyn on October 4, 2023

Carolyn PREC*, Vancouver Real Estate Listing

The month-over-month price gains seen earlier this year abated in the Metro Vancouver1 housing market in September due to a seasonal decline in sales and a modest increase in inventory levels across the region.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales2 in the region totalled 1,926 in September 2023, a 13.2 per cent increase from the 1,701 sales recorded in September 2022. This was 26.3 per cent below the 10-year seasonal average (2,614).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for September 2023 is 17.7 per cent. By property type, the ratio is 12.6 per cent for detached homes, 21.6 per cent for townhomes, and 21.3 per cent for apartments.

In contrast to the spring and summer, the September data suggests there may be a renewed interest on the part of sellers to participate in the market, with new listing activity rising back in line with long-term historical averages. This upward shift in new listings has allowed overall inventory levels to recover modestly from the low levels we saw earlier this year

Source🔗: https://www.rebgv.org/market-watch/monthly-market-report/september-2023.html

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CAROLYN CHEN PREC*, 1NE Collective Realty Inc.
📞+1-604-861-3098
✉️info@carolynchen.ca
🌎https://carolynchen.ca/
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