Market Update

Check out the information below for the latest on what the market in Metro Vancouver is doing

Market Update

Source: The Real Estate Board of Greater Vancouver

Inventory Inching Upwards!

February showed a continued reluctance among prospective home sellers to engage in Metro Vancouver’s housing market, leading to below-average sales activity. With sales remaining well-below historical norms, the number of available homes for sale in the region have continued inching upwards.

February 2023 home sales were up 76.9% compared to January 2023, and were 33% below the 10-year February sales average.

“It’s hard to sell what you don’t have, and with new listing activity remaining among the lowest in recent history, sales are struggling to hit typical levels for this point in the year,” said Andrew Lis, REBGV’s director, economics and data analytics. “On the plus side for prospective buyers, the below-average sales activity is allowing inventory to accumulate, which is keeping market conditions from straying too deeply into sellers’ market territory, particularly in the more affordably priced segments.”

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Irfan Keshavjee

RE/MAX Crest Realty

#1 - 5050 Kingsway  Burnaby,  B.C.  V5H 4C2 

Mobile: 604-619-6786

irfan@irfankeshavjee.com

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Irfan Keshavjee

Mobile: 604-619-6786

irfan@irfankeshavjee.com

Office Info

RE/MAX Crest Realty

#1 - 5050 Kingsway  Burnaby,  B.C.  V5H 4C2 

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