Summary of REBGV Market Statistics - October 2023
In October 2023, the Metro Vancouver housing market experienced an increase in newly listed properties, offering more choices to potential home buyers. However, sales remained below long-term averages, with 1,996 residential sales, marking a 3.7% increase from October 2022 but remaining 29.5% below the 10-year seasonal average. More properties were listed for sale, including detached, attached, and apartments, with a 15.4% increase compared to the previous year. Despite the increased supply, demand was weaker, resulting in a more balanced market condition. The MLS® Home Price Index showed an overall benchmark price increase of 4.4% year-over-year, with variations in prices and sales for detached, apartment, and attached homes. The market seemed to favour multifamily properties over detached homes, and price increases had slowed down due to these more balanced market conditions.
In October 2023, the Metro Vancouver housing market experienced an increase in newly listed properties, offering more choices to potential home buyers. However, sales remained below long-term averages, with 1,996 residential sales, marking a 3.7% increase from October 2022 but remaining 29.5% below the 10-year seasonal average. More properties were listed for sale, including detached, attached, and apartments, with a 15.4% increase compared to the previous year. Despite the increased supply, demand was weaker, resulting in a more balanced market condition. The MLS® Home Price Index showed an overall benchmark price increase of 4.4% year-over-year, with variations in prices and sales for detached, apartment, and attached homes. The market seemed to favour multifamily properties over detached homes, and price increases had slowed down due to these more balanced market conditions.
REBGV Market Statistics - October 2023
Current & Historical Interest Rates
North Vancouver Update
West Vancouver Update
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.