Trending
A red, white, and black flag with a white background.

Available home listings in Vancouver up by over 1/3 y-o-y

A row of houses with trees and shrubs in the yard.

The number of new for-sale listings in Metro Vancouver last month was 13,084, representing a 38.2% year-over-year increase and 10.7% higher from August this year.

“There’s more selection for home buyers to choose from today. Since spring, home listing totals have risen to levels we haven’t seen in our market in four years,” Greater Vancouver Real Estate Board president-elect Ashley Smith told The Canadian Press.

This trend accompanied a sharp fall in sales numbers. Metro Vancouver experienced a 43.5% shrinkage in activity, representing 1,595 transactions (down from last year’s 2,821). The September volume was also 36% lower than the market’s 10-year sales average for September.

Overall, sales activity in the Greater Vancouver region decreased by more than 40% annually last month, and by 17.3% when compared to August 2018 numbers.

Read more:

Even home prices suffered some decline. The benchmark value of detached homes in the region was at $1,540,900 in September, shrinking by 3.4% over the most recent quarter and by 4.5% from the same time last year.

Meanwhile, the condo apartment benchmark price was $687,300, which was 3.1% lower over the past quarter, but 7.4% higher than September 2017. The townhome benchmark value stood at $837,600, falling by 2% over the last 3 months, but increasing by 6.4% year-over-year.

“Metro Vancouver’s housing market has changed pace compared to the last few years. Our townhome and apartment markets are sitting in balanced market territory and our detached home market remains in a clear buyers’ market.”

Post a Comment

Related Articles

Calgary’s real estate market is one of Canada’s most dynamic, offering a range of housing options that cater to diverse lifestyles and budgets. Unlike other...

Canada’s housing market is set to experience changes in 2025 due to economic uncertainty, shifting immigration policies, and evolving real estate trends. In its Housing...

Most Trending News

Calgary’s real estate market is one of Canada’s most dynamic, offering a range of housing options that cater to diverse lifestyles and budgets. Unlike other...

Canada’s housing market is set to experience changes in 2025 due to economic uncertainty, shifting immigration policies, and evolving real estate trends. In its Housing...

On February 2nd, Playbook Media hosted the inaugural event of its 2025 Investor’s Series, a one-day lunch and learn session that brought together over 200...