The Greater Vancouver real estate market in April witnessed a surge in new listings, with 11,800 properties available for sale. This represents the highest amount of available inventory in Greater Vancouver since May 2021, a welcome respite for buyers who have long grappled with inventory scarcity in the preceding years. April saw a strong 17%…
Actively listed homes for sale on the MLS® in Metro Vancouver1 continued climbing in April, up 42 per cent year-over-year, breaching the 12,000 mark, a number not seen in the region since the summer of 2020. Sales Greater Vancouver REALTORS® (GVR)2 reports that residential sales3 in the region totalled 2,831 in April 2024, a 3.3…
The MLS® Housing Price Index (HPI) is a measure of real estate prices that provides a clearer picture of market trends over traditional tools such as raw average or median prices. NOTE: The MLS® HPI offers only a benchmark in which to track price trends and consumers should be careful not to misinterpret index figures…
Thinking of Buying? Selling? Can’t make sense of our local market? Have lots of questions, such as, is there an influx or decrease of homes coming onto the market and is current balance of supply and demand impacting prices? Here’s what you really need to know to make sense of our local market:
If you want to know more about what’s happening with West Vancouver’s house market in order to navigate it with confidence, check out the video below showing the past 15 months activity for sales, new listings, inventory, months-of-inventory, sales-to-active listing ratio, sales-to-new listing ratio and prices.
The Greater Vancouver real estate market has maintained its upward trajectory with increased sale prices and burgeoning market activity throughout the initial quarter of 2024. Presently, the average property in Vancouver commands a price of $1,318,535, which represents yearly price growth of 3.9%. Since the year’s commencement, home values have surged by 6%, equating to…
In West Vancouver, there was 10.4 months of inventory (MOI). This represents a buyer’s market based on MOI. Last month there was 9.4 months of inventory. The sales to new listings percentage was 28%, which represents a buyer’s market. The first quarter of 2024 had 92 sales compared to the first quarter of 2023 which…
The number of Metro Vancouver*homes listed for sale on the MLS® rose nearly 23% year-over-year, providing more opportunity for buyers looking for a home this spring. The Greater Vancouver REALTORS® (GVR) reports that residential sales3 in the region totaled 2,415 in March 2024, a 4.7% decrease from the 2,535 sales recorded in March 2023. This…
Check out Royal LePage® recent ‘Million Dollar Property Report’. The new report examines what a budget of approximately $1 million – give or take $50,000 – can buy in Canada’s major housing markets! Highlights On average, a $1 million property in Canada has 3.2 bedrooms and 2.1 bathrooms, while a $2 million property has 3.7…
The Province of British Columbia, in late 2023, introduced changes to the Local Government Act with the goal of increasing the speed and supply of new housing across BC. Bill 44 – Housing Statutes (Residential Development): Bill 44 requires local governments to allow for increased density on lots currently zoned for single family and…
