VANCOUVER, BC – May 2, 2025 – The slowdown in home sales registered on the Multiple
Listing Service® (MLS®) in Metro Vancouver* that began early this year continued in April,
with sales down nearly 24 per cent year-over-year.
The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled
2,163 in April 2025, a 23.6 per cent decrease from the 2,831 sales recorded in April 2024. This
was 28.2 per cent below the 10-year seasonal average (3,014).
“From a historical perspective, the slower sales we’re now seeing stand out as unusual,
particularly against a backdrop of significantly improved borrowing conditions, which
typically helps to boost sales,” said Andrew Lis, GVR’s director of economics and data
analytics. “What’s also unusual is starting the year with Canada’s largest trading partner
threatening to tilt our economy into recession via trade policy, while at the same time having
Canadians head to the polls to elect a new federal government. These issues have been hard
to ignore, and the April home sales figures suggest some buyers have continued to patiently
wait out the storm.”
There were 6,850 detached, attached and apartment properties newly listed for sale on the
MLS® in Metro Vancouver in April 2025. This represents a 3.4 per cent decrease compared to
the 7,092 properties listed in April 2024 and was 19.5 per cent above the 10-year seasonal
average (5,731) for the month.
The total number of properties currently listed for sale on the MLS® system in Metro
Vancouver is 16,207, a 29.7 per cent increase compared to April 2024 (12,491). This is 47.6 per
cent above the 10-year seasonal average (10,979).
Across all detached, attached and apartment property types, the sales-to-active listings ratio
for April 2025 is 13.8 per cent. By property type, the ratio is 9.9 per cent for detached homes,
17.5 per cent for attached, and 15.7 per cent for apartments.
Analysis of the historical data suggests downward pressure on home prices occurs when the
ratio dips below 12 per cent for a sustained period, while home prices often experience
upward pressure when it surpasses 20 per cent over several months.
“While the headlines have been filled with worrying news lately, there are positives in the
current market worth highlighting, especially for buyers,” Lis said. “Inventory levels have just
crested 16,000 for the first time since 2019, prices have stayed fairly stable for the past few
months, and borrowing costs are the lowest they’ve been in years. These factors benefit
buyers, and with balanced conditions across the market overall, there’s plenty of opportunity
for anyone looking to make a purchase.”
The MLS® Home Price Index composite benchmark price for all residential properties in
Metro Vancouver is currently $1,184,500. This represents a 1.8 per cent decrease over April
2024 and a 0.5 per cent decrease compared to March 2025.
Sales of detached homes in April 2025 reached 578, a 29 per cent decrease from the 814
detached sales recorded in April 2024. The benchmark price for a detached home is
$2,021,800. This represents a 0.7 per cent decrease from April 2024 and a 0.6 per cent
decrease compared to March 2025.
Sales of apartment homes reached 1,130 in April 2025, a 20.2 per cent decrease compared to
the 1,416 sales in April 2024. The benchmark price of an apartment home is $762,800. This
represents a two per cent decrease from April 2024 and a 0.6 per cent decrease compared to
March 2025.
Attached home sales in April 2025 totalled 442, a 23.8 per cent decrease compared to the 580
sales in April 2024. The benchmark price of a townhouse is $1,102,300. This represents a 2.9
per cent decrease from April 2024 and a one per cent decrease compared to March 2025.

For more stats and details, CLICK HERE

SURREY, BC – Home buyers in the Fraser Valley are enjoying a selection of homes for sale not seen in more
than a decade. The growing inventory of more than 10,000 active listings means, in many cases, that buyers
have time, selection and price negotiation on their side.
“There’s definitely a surge of activity in the market — buyers are out viewing homes and attending open
houses,” said Tore Jacobsen, Chair of the Fraser Valley Real Estate Board. “What’s noticeable in the current
market is the level of choice. A buyer might see a home they like and then have an opportunity to tour five
or ten more just like it, without feeling rushed to make an immediate offer.”
However, despite the abundance of listings and potential buying opportunities, spring sales remain
sluggish. The Fraser Valley Real Estate Board recorded 1,043 sales on its Multiple Listing Service® (MLS®) in
April, up one per cent from March and down 29 per cent year over year. New listings declined slightly in
April, down one per cent from March.
The overall sales-to-active listings ratio indicates a buyer’s market in the Fraser Valley, with a ratio of 10 per
cent. The market is considered to be balanced when the ratio is between 12 per cent and 20 per cent.
Across the Fraser Valley in April, the average number of days to sell a single-family detached home was 32,
while for both townhomes and condos it was slightly lower at 29 days.
“Tariffs and economic uncertainty continue to weigh heavily on the minds of home buyers in the Fraser
Valley,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “However, with the federal election
now behind us and a new administration in place, there’s cautious optimism that a fresh approach to
strengthening the economy could be on the way, which is welcome news for the real estate sector.”
The composite Benchmark price in the Fraser Valley decreased 0.2 per cent in April, to $972,700.
MLS® HPI Benchmark Price Activity
• Single Family Detached: At $1,506,600, the Benchmark price for an FVREB single-family detached
home increased 0.1 per cent compared to March 2025 and decreased 1.3 per cent compared to
April 2024.
• Townhomes: At $833,100 the Benchmark price for an FVREB townhome decreased 0.1 per cent
compared to March 2025 and decreased 2.4 per cent compared to April 2024.
• Apartments: At $537,800 the Benchmark price for an FVREB apartment/condo decreased 0.6 per
cent compared to March 2025 and decreased 3.2 per cent compared to April 2024

For more stats, CLICK HERE

Tariffs, economic uncertainty stall spring market in the Fraser Valley

SURREY, BC – March home sales in the Fraser Valley remained nearly 50 per cent below the 10-year
average — making for the slowest start to the spring market in more than 15 years.
The Fraser Valley Real Estate Board recorded 1,036 sales in March, up 13 per cent from February, but still
26 per cent below sales recorded this time last year.
Following a decline on the Board’s Multiple Listing Service® (MLS®) in February, new listings increased 22
per cent in March to 3,800. Overall inventory is at a decade-high level, with 9,219 active listings, 49 per
cent above March 2024 and 59 per cent above the 10-year seasonal average.
“If not for the economic uncertainty driven largely by U.S. tariffs, we’d likely be seeing a typical strong
spring market in the Fraser Valley,” said Tore Jacobsen, Chair of the Fraser Valley Real Estate Board.
“Instead, we’re seeing a disconnect as sellers remain hesitant to lower their prices beyond a certain
threshold, while buyers, facing tighter financing conditions, are either unable or unwilling to meet it. The
resulting inertia is keeping sales low.”
The overall sales-to-active listings ratio continues to signal a buyer’s market in the Fraser Valley, with a
ratio of 11 per cent. The market is considered to be balanced when the ratio is between 12 per cent and 20
per cent.
“Currently, uncertainty is impacting all corners of the real estate and development sector,” said Baldev Gill,
CEO of the Fraser Valley Real Estate Board, “and as a result, we are seeing markedly lower seasonal
activity. As we navigate these challenges, your local REALTOR® — with firsthand market insight and access
to the latest data — is a valuable resource to help guide you through the critical timing decisions for buying
or selling.”
Across the Fraser Valley in March, the average number of days to sell a single-family detached home was
31, while for a condo it was slightly higher at 33 days. Townhomes took, on average, 27 days to sell.
The composite Benchmark price in the Fraser Valley increased just under half a per cent in March, up 0.4
per cent to $974,400.
MLS® HPI Benchmark Price Activity
• Single Family Detached: At $1,505,500, the Benchmark price for an FVREB single-family detached
home increased 0.4 per cent compared to February 2025 and decreased 1.2 per cent compared to
March 2024.
• Townhomes: At $833,700 the Benchmark price for an FVREB townhome increased 0.5 per cent
compared to February 2025 and decreased 1.7 per cent compared to March 2024.
• Apartments: At $540,900 the Benchmark price for an FVREB apartment/condo increased 0.5 per
cent compared to February 2025 and decreased 2.6 per cent compared to March 2024.

For more stats and details, click HERE.

VANCOUVER, BC – Home sales registered on the MLS® in Metro Vancouver*
for the month of March were the lowest going back to 2019 for the same month, while active
listings continue to their upward trend.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled
2,091 in March 2025, a 13.4 per cent decrease from the 2,415 sales recorded in March 2024.
This was 36.8 per cent below the 10-year seasonal average (3,308).
“If we can set aside the political and economic uncertainty tied to the new U.S. administration
for a moment, buyers in Metro Vancouver haven’t seen market conditions this favourable in
years,” said Andrew Lis, GVR’s director of economics and data analytics. “Prices have eased
from recent highs, mortgage rates are among the lowest we’ve seen in years, and there are
more active listings on the MLS® than we’ve seen in almost a decade. Sellers appear ready to
engage — but so far, buyers have not shown up in the numbers we typically see at this time
of year.”

There were 6,455 detached, attached and apartment properties newly listed for sale on the
Multiple Listing Service® (MLS®) in Metro Vancouver in March 2025. This represents a 29 per
cent increase compared to the 5,002 properties listed in March 2024. This was 15.8 per cent
above the 10-year seasonal average (5,572).

The total number of properties currently listed for sale on the MLS® system in Metro
Vancouver is 14,546, a 37.9 per cent increase compared to March 2024 (10,552). This is 44.9
per cent above the 10-year seasonal average (10,038).

Across all detached, attached and apartment property types, the sales-to-active listings ratio
for March 2025 is 14.9 per cent. By property type, the ratio is 10.3 per cent for detached
homes, 21.5 per cent for attached, and 16.2 per cent for apartments.

Analysis of the historical data suggests downward pressure on home prices occurs when the

ratio dips below 12 per cent for a sustained period, while home prices often experience

upward pressure when it surpasses 20 per cent over several months.

“The current market bares resemblance to early 2023 where price trends were generally flat,
and sales started the year off slowly before gaining momentum in the spring and summer
months,” Lis said. “While market conditions overall remain balanced, it’s worth noting that the
attached segment continues teetering on the threshold of a sellers’ market as a result of a
chronic undersupply, with only about 2,200 active listings available for prospective buyers
throughout the entire region.”

The MLS® Home Price Index composite benchmark price for all residential properties in
Metro Vancouver is currently $1,190,900. This represents a 0.6 per cent decrease over March
2024 and a 0.5 per cent increase compared to February 2025.
Sales of detached homes in March 2025 reached 527, a 24.1 per cent decrease from the 694
detached sales recorded in March 2024. The benchmark price for a detached home is
$2,034,400. This represents a 0.8 per cent increase from March 2024 and a 0.4 per cent
increase compared to February 2025.

Sales of apartment homes reached 1,084 in March 2025, a 10.2 per cent decrease compared
to the 1,207 sales in March 2024. The benchmark price of an apartment home is $767,300.
This represents a 0.9 per cent decrease from March 2024 and a 1 per cent increase compared
to February 2025.

Attached home sales in March 2025 totalled 472, a 4.6 per cent decrease compared to the
495 sales in March 2024. The benchmark price of a townhouse is $1,113,100. This represents a
0.8 per cent decrease from March 2024 and a 0.2 per cent increase compared to February
2025.

For more stats and details, click HERE.

Homes newly listed on the MLS® in Metro Vancouver* rose 46 per cent year-over-year in January, as sellers appear eager to enter the market to start the year. The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,552 in January 2025, an 8.8 per cent increase from the 1,427 sales recorded in January 2024. This was 11.3 per cent below the 10-year seasonal average (1,749).

“In the three months preceding January, we’ve watched buyer demand gain momentum, but it appears that momentum is now shifting toward sellers to start the new year,” Andrew Lis, GVR’s director of economics and data analytics said. “Even with this increase in new listing activity, sales continue to outpace last years’ figures, signaling some buyer appetite remains after the upswing that finished off 2024.”

There were 5,566 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2025. This represents a 46.9 per cent increase compared to the 3,788 properties listed in January 2024. This was 31.1 per cent above the 10-year seasonal average (4,247). The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 11,494, a 33.1 per cent increase compared to January 2024 (8,633). This is 33.2 per cent above the 10-year seasonal average (8,632). Across all detached, attached and apartment property types, the sales-to-active listings ratio for January 2025 is 14.1 per cent.

By property type, the ratio is 9.2 per cent for detached homes, 18.5 per cent for attached, and 16.5 per cent for apartments. Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“With new listings outpacing demand to start 2025, price trends saw little fluctuation in January across all segments, with the market overall standing in balanced conditions,” Lis said. “Our 2025 forecast calls for moderate price growth by the end of the year, but we have cautioned that shocks to the economy such as those currently threatening Canada via tariffs from the US could impact these estimates. Going forward, whether these tariffs actually come into force, the duration they remain in place, and the degree to which Canada retaliates will determine the impact to the housing market in our region in the months ahead, if any.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,173,000. This represents a 0.5 per cent increase over January 2024 and a 0.1 per cent increase compared to December 2024. Sales of detached homes in January 2025 reached 380, a 0.3 per cent increase from the 379 detached sales recorded in January 2024. The benchmark price for a detached home is $2,005,400. This represents a 3.1 per cent increase from January 2024 and a 0.4 per cent increase compared to December 2024. Sales of apartment homes reached 846 in January 2025, a 13.4 per cent increase compared to the 746 sales in January 2024.

The benchmark price of an apartment home is $748,100. This represents a 1.7 per cent decrease from January 2024 and a 0.2 per cent decrease compared to December 2024. Attached home sales in January 2025 totalled 321, a 12.6 per cent increase compared to the 285 sales in January 2024.

The benchmark price of a townhouse is $1,105,600. This represents a 2.7 per cent increase from January 2024 and a 0.8 per cent decrease compared to December 2024.

For more stats, CLICK HERE

Buyers gaining upper hand in Fraser Valley real estate market
SURREY, BC – For the first time in four months, home sales in the Fraser Valley have increased as buyers
capitalize on more selection and weakening prices.
The Fraser Valley Real Estate Board recorded 920 sales in February, up 13 per cent from January, but 26 per
cent below sales recorded in February 2024.
Despite a nine per cent drop in newly listed homes on the Board’s Multiple Listing Service® (MLS®), new
listings remained 14 per cent above the 10-year seasonal average, at 3,121. Overall inventory remains high,
at 8,070 active listings, 45 per cent above February 2024 and 55 per cent above the 10-year seasonal
average.
The overall sales-to-active listings ratio continues to signal a buyer’s market in the Fraser Valley, with a
ratio of 11 per cent. The market is considered to be balanced with the ratio is between 12 per cent and 20
per cent.
“The combination of inventory accumulation and softening prices is providing buyers with increased
leverage, especially in the single-family detached category,” said Baldev Gill, CEO of the Fraser Valley Real
Estate Board. “Should this pattern persist, we could see a further shift toward a buyer's market, particularly
given the ongoing economic uncertainties and impending tariffs. With ample selection, buyers have
flexibility and time on their side to explore their options before making a decision.”
Homes across the Fraser Valley sold in fewer days in February compared to January. The average number of
days to sell a single-family detached home was 39, while for a condo it was 36. Townhomes took, on
average, 32 days to sell.
The composite Benchmark price in the Fraser Valley dipped less than a quarter of a per cent in February,
down 0.2 per cent to $962,500.

MLS® HPI Benchmark Price Activity
• Single Family Detached: At $1,489,100, the Benchmark price for an FVREB single-family detached
home increased 0.5 per cent compared to January 2025 and decreased 0.6 per cent compared to
February 2024.
• Townhomes: At $820,600, the Benchmark price for an FVREB townhome decreased 0.7 per cent
compared to January 2025 and decreased 2.1 per cent compared to February 2024.
• Apartments: At $533,200 the Benchmark price for an FVREB apartment/condo decreased 0.3 per
cent compared to January 2025 and decreased 2.4 per cent compared to February 2024.

For more stats, CLICK HERE

SURREY, BC – Growing inventory and stable prices could lead to opportunities for buyers in the Fraser
Valley market this winter despite uncertain economic conditions.

Newly listed homes jumped 167 per cent from December to January, with 3,432 listed on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®). At 7,251 active listings, inventory is at a 10-year seasonal high, 54 per cent above the 10-year average.

While sales remained slow in January, with 818 properties sold (down 18% from December), the
combination of stable prices and abundant selection presents potential opportunities for buyers to get
back into the market.

The sales-to-active listings ratio appears to bear this out. At 11 per cent, the overall ratio is signaling a
buyer’s market, with detached homes firmly in buyer’s market territory. The market is considered to be
balanced when the ratio is between 12 per cent and 20 per cent.

It took longer to sell homes in January compared to December. Across the Fraser Valley, the average
number of days to sell a single-family detached home was 52, while for a condo it was 42. Townhomes
took, on average, 38 days to sell.

“The market appears to be in a holding pattern at the moment,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “There is no doubt that economic uncertainty is playing a role, especially the spectre of a trade war, which could lead to even more rate cuts by the Bank of Canada. The confluence of these conditions could provide unique buying opportunities, but we urge buyers and sellers to work with a REALTOR® to ensure they align with financial objectives.”

Benchmark prices in the Fraser Valley held relatively steady in January, with the composite Benchmark
price down 0.03 per cent to $964,800.

MLS® HPI Benchmark Price Activity
• Single Family Detached: At $1,482,400, the Benchmark price for an FVREB single-family detached
home increased 0.1 per cent compared to December 2024 and increased 0.6 per cent compared to
January 2024.
• Townhomes: At $826,000, the Benchmark price for an FVREB townhome decreased 0.2 per cent
compared to December 2024 and decreased 0.2 per cent compared to January 2024.
• Apartments: At $534,600, the Benchmark price for an FVREB apartment/condo increased 0.1 per
cent compared to December 2024 and decreased 1.2 per cent compared to January 2024.

For more stats in the Fraser Valley from January, CLICK HERE.

Homes newly listed on the MLS® in Metro Vancouver rose 46 per cent year-over-year in January, as sellers appear eager to enter the market to start the year. 

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,552 in January 2025, an 8.8 per cent increase from the 1,427 sales recorded in January 2024. This was 11.3 per cent below the 10-year seasonal average (1,749). 

“In the three months preceding January, we’ve watched buyer demand gain momentum, but it appears that momentum is now shifting toward sellers to start the New Year,” Andrew Lis, GVR’s director of economics and data analytics said. “Even with this increase in new listing activity, sales continue to outpace last years’ figures, signaling some buyer appetite remains after the upswing that finished off 2024.” 

There were 5,566 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2025. This represents a 46.9 per cent increase compared to the 3,788 properties listed in January 2024. This was 31.1 per cent above the 10-year seasonal average (4,247). 

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 11,494, a 33.1 per cent increase compared to January 2024 (8,633). This is 33.2 per cent above the 10-year seasonal average (8,632). 

Across all detached, attached and apartment property types, the sales-to-active listings ratio for January 2025 is 14.1 per cent. By property type, the ratio is 9.2 per cent for detached homes, 18.5 per cent for attached, and 16.5 per cent for apartments. 

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months. 

“With new listings outpacing demand to start 2025, price trends saw little fluctuation in January across all segments, with the market overall standing in balanced conditions,” Lis said. “Our 2025 forecast calls for moderate price growth by the end of the year, but we have cautioned that shocks to the economy such as those currently threatening Canada via tariffs from the US could impact these estimates. Going forward, whether these tariffs actually come into force, the duration they remain in place, and the degree to which Canada retaliates will determine the impact to the housing market in our region in the months ahead, if any.” 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,173,000. This represents a 0.5 per cent increase over January 2024 and a 0.1 per cent increase compared to December 2024. 

Sales of detached homes in January 2025 reached 380, a 0.3 per cent increase from the 379 detached sales recorded in January 2024. The benchmark price for a detached home is $2,005,400. This represents a 3.1 per cent increase from January 2024 and a 0.4 per cent increase compared to December 2024. 

Sales of apartment homes reached 846 in January 2025, a 13.4 per cent increase compared to the 746 sales in January 2024. The benchmark price of an apartment home is $748,100. This represents a 1.7 per cent decrease from January 2024 and a 0.2 per cent decrease compared to December 2024. 

Attached home sales in January 2025 totalled 321, a 12.6 per cent increase compared to the 285 sales in January 2024. The benchmark price of a townhouse is $1,105,600. This represents a 2.7 per cent increase from January 2024 and a 0.8 per cent decrease compared to December 2024.

For more stats CLICK HERE!

New listings at 10-year high in 2024, but affordability still the elephant in the room in Fraser Valley

Following a healthy boost in sales in October, Fraser Valley home sales dropped in November
as slower seasonal buying trends set in amid balanced market conditions.

The Fraser Valley Real Estate Board recorded 1,136 sales in November, down 15 per cent from October, but
28 per cent above November 2023 sales.
“Buying and selling activity is typically quiet at this time of year,” said Jeff Chadha, Chair of the Fraser Valley
Real Estate Board. “But it’s worth noting that November 2024 sales are higher than they’ve been compared
to the past two Novembers — a sign that overall activity is picking up in the Fraser Valley and with it,
growing buyer confidence.”

A decline in new listings chipped away at overall inventory in November, with active listings declining eight
per cent to 8,125. Overall inventory, however, remains at a 10-year seasonal high and 30 per cent above
November 2023 levels. New listings dropped 26 per cent in November to 2,367, but remain above the 10-
year seasonal average and above levels from November 2023. The Fraser Valley remains in a balanced
market with a sales-to-active ratio of 14 per cent. The market is considered to be balanced when the ratio
is between 12 per cent and 20 per cent.

“With seasonality expected to slow sales activity towards year-end, we are optimistic that the new
mortgage lending guidelines, which come into effect on December 15, will slowly start to work their way
into the market,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “Longer amortization periods
and lower minimum down payments should help more buyers who want to get into the market in 2025.”

Across the Fraser Valley in November, the average number of days to sell a single-family detached home
was 43, while for a condo it was 36. Townhomes took, on average, 33 days to sell.
Benchmark prices in the Fraser Valley dipped for the eighth straight month in November, with the
composite Benchmark price down 0.2 per cent to $969,500.
MLS® HPI Benchmark Price Activity
• Single Family Detached: At $1,482,600, the Benchmark price for an FVREB single-family detached
home decreased 0.4 per cent compared to October 2024 and decreased 0.1 per cent compared to
November 2023.
• Townhomes: At $835,100, the Benchmark price for an FVREB townhome increased 0.3 per cent
compared to October 2024 and decreased 0.2 per cent compared to November 2023.
• Apartments: At $536,100, the Benchmark price for an FVREB apartment/condo decreased 1.3 per
cent compared to October 2024 and decreased 1.2 per cent compared to November 2023.

For more stats and details, CLICK HERE.

Home sales registered in the MLS® in the Metro Vancouver market rose 28 percent year-over-year in November, building on the momentum of the 30 percent year-over-year increase seen in October.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,181 in November 2024, a 28.1 per cent increase from the 1,702 sales recorded in November 2023. This was 12.8 per cent below the 10-year seasonal average (2,500).

“When we saw demand pick up in October, there was still a question over whether it was a blip in the data or the start of an emerging trend,” Andrew Lis, GVR’s director of economics and data analytics said. “While the November market isn’t quite a Cyber Monday door-crasher, buyers are continuing to take advantage of the relatively balanced market conditions while they last.”

There were 3,725 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in November 2024. This represents a 10.6 per cent increase compared to the 3,369 properties listed in November 2023. This was 5.4 per cent above the 10-year seasonal average (3,535).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 13,245, a 21.2 per cent increase compared to November 2023 (10,931). This is 26.1 per cent above the 10-year seasonal average (10,502).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for November 2024 is 17.1 per cent. By property type, the ratio is 12.7 per cent for detached homes, 23.1 per cent for attached, and 18.7 per cent for apartments.

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“Although demand has increased as we head into year-end, the number of newly listed properties coming to market in November remained sufficient to keep prices steady across all segments,” Lis said. “But as we move into the New Year, if the strength in demand continues at the current pace, and the pace of newly listed properties coming to market doesn’t keep up, it may not be long until we see the return of upward pressure on prices.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,172,100. This represents a 0.9 per cent decrease over November 2023 and nearly unchanged compared to October 2024.

Sales of detached homes in November 2024 reached 626, a 19.7 per cent increase from the 523 detached sales recorded in November 2023. The benchmark price for a detached home is $1,997,400. This represents a one per cent increase from November 2023 and a 0.3 per cent decrease compared to October 2024.

Sales of apartment homes reached 1,089 in November 2024, a 28.1 per cent increase compared to the 850 sales in November 2023. The benchmark price of an apartment home is $752,800. This represents a 1.2 per cent decrease from November 2023 and a 0.6 per cent decrease compared to October 2024.

Attached home sales in November 2024 totalled 451, a 42.7 per cent increase compared to the 316 sales in November 2023. The benchmark price of a townhouse is $1,117,600. This represents a 1.8 per cent increase from November 2023 and a 0.8 per cent increase compared to October 2024.

For more stats and details, CLICK HERE.

After months of tracking approximately twenty per cent below the ten-year seasonal average, Metro Vancouver home sales surged more than 30 per cent year-over-year in October.

The Greater Vancouver REALTORS® (GVR) reports that residential sales registered on the Multiple Listing Service® (MLS®) in the region totalled 2,632 in October 2024, a 31.9 per cent increase from the 1,996 sales recorded in October 2023. This was 5.5 per cent below the 10-year seasonal average (2,784).

“Typically, reductions to mortgage rates boost demand, and the strong October sales numbers suggest buyers may finally be responding to lower borrowing costs after waiting on the sidelines for months,” Andrew Lis, GVR’s director of economics and data analytics said. “To some market watchers, this rebound may come as a surprise, but with four consecutive rate cuts from the Bank of Canada – and more likely to come on the horizon – it was only a matter of time until signs of renewed strength in demand showed up.”

There were 5,452 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in October 2024. This represents a 16.9 per cent increase compared to the 4,664 properties listed in October 2023. This was 20 per cent above the 10-year seasonal average (4,545).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 14,477, a 24.8 per cent increase compared to October 2023 (11,599). This total is also 26.2 per cent above the 10-year seasonal average (11,475).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for October 2024 is 18.8 per cent. By property type, the ratio is 13.4 per cent for detached homes, 22.5 per cent for attached, and 22.2 per cent for apartments.

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“While the strength in October's numbers is encouraging, one data point does not make a trend," Lis said. "Recent data shows that market conditions have been decidedly balanced, with prices easing over the past few months. With the recent uptick in sales however, the attached and apartment segments are now tilting toward a seller’s market with the detached segment not far behind, suggesting the recent period of price moderation may be nearing an end."

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is $1,172,200. This represents a 1.9 per cent decrease over October 2023 and a 0.6 per cent decrease compared to September 2024.

Sales of detached homes in October 2024 reached 724, a 25.5 per cent increase from the 577 detached sales recorded in October 2023. The benchmark price for a detached home is $2,002,900. This represents a 0.3 per cent increase from October 2023 and a 1 per cent decrease compared to September 2024.

Sales of apartment homes reached 1,393 in October 2024, a 33.4 per cent increase compared to the 1,044 sales in October 2023. The benchmark price of an apartment home is $757,200. This represents a 1.6 per cent decrease from October 2023 and a 0.6 per cent decrease compared to September 2024.

Attached home sales in October 2024 totalled 501, a 40.7 per cent increase compared to the 356 sales in October 2023. The benchmark price of a townhouse is $1,108,800. This represents a 0.4 per cent increase from October 2023 and a 0.9 per cent increase compared to September 2024.

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