Metro Vancouver August 2023 Market Results

Metro Vancouver August 2023 Market Results

If you’re feeling like summer went ahead and flew by, you wouldn’t be the only one. As the season winds to a close, the Metro Vancouver residential market* follows along its typical seasonal pattern where we begin to see sales starting to slow.

Residential Home Sales

The Real Estate Board of Greater Vancouver (REBGV) reported that residential home sales^ in the region totalled 2,296 last month, up 21.4% from the 1,892 sales recorded in the same month last year. Still, this figure sits 13.8% below the 10-year seasonal average of 2,663.

Andrew Lis, Director of Economics and Data Analytics at the REBGV commented on last month’s housing trends by saying, “It’s been an interesting spring and summer market, to say the least. Borrowing costs are fluctuating around the highest levels we’ve seen in over ten years, yet Metro Vancouver’s housing market bucked many pundits’ predictions of a major slowdown, instead posting relatively strong sales numbers and year-to-date price gains north of eight per cent, regardless of home type.”



No comments

Post Your Comment:

Your email will not be published
Reciprocity Logo 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.