Metro Vancouver housing market holds steady in October

An increase in newly listed properties is providing more choice to home buyers across Metro Vancouver, but sales remain below long-term averages. The Real Estate Board of Greater Vancouver (REBGV) reports that residential sales in the region totalled 1,996 in October 2023, a 3.7 per cent increase from the 1,924 sales recorded in October 2022. This total is 29.5 per cent below the 10-year seasonal average (2,832) for October. “With properties coming to market at a rate roughly five per cent above the ten-year seasonal average, there seems to be a continuation of the renewed interest on the part of sellers to participate in the market that we’ve been watching this fall,” Andrew Lis, REBGV’s director of economics and data analytics said. “Counterbalancing this increase in supply, however, is the fact sales remain almost 30 per cent below their ten-year seasonal average, which tells us demand is not as strong as we might expect this time of year.” “With more supply in the form of resale inventory, and weaker demand in the form of slower sales, we’ve seen market conditions overall adjust towards more balanced conditions.“ 🌟Take advantage of the steady Metro Vancouver housing market! Explore the increased choice of homes with the rise in newly listed properties. Whether you’re a buyer or seller, now is the time to engage in this evolving market. Don’t miss out – get in touch with a real estate expert today to make the most of these balanced conditions! 🏡 📲778-9519898 www.amaljarmakani.com #northvancouver #realestateinsights #realestate #northvan #westvancouver #vancouver

from Amal Jarmakani Real Estate https://www.youtube.com/watch?v=yL45HEd0k5s