VANCOUVER Inventory remains low in Metro Vancouver while home sales dipped well below monthly historical averages in January The Real Estate Board of Greater Vancouver, reports that residential home sales in the region totalled 1,022 in January 2023
A 55.3 per cent decrease from the 2,285 sales recorded in January 2022,and a 21.1 per cent decrease from the 1,295 homes sold in December 2022. Last month sales were 42.9 per cent below the 10-year January sales average
There were 3,297 detached, attached and apartment properties newly listed for sale on the Multiple Listing service in Metro Vancouver in January 2023. This represents a 20.9 per cent decrease compared to the 4,170 homes listed in January 2022 and a 173.4 per cent increase compared to December 2022 when 1,206 homes were listed.
The MLS Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,111,400. This represents a 6.6 per cent decrease over January 2022 and a 0.3 per cent decrease compared to December 2022.
Sales of apartment homes reached 571 in January 2023, a 56.6 per cent decrease compared to the 1,315 sales in January 2022.The benchmark price of an apartment home is $720,700. This represents a 1.1 per cent decrease from January 2022 and a one per cent increase compared to December 2022.
Attached home sales in January 2023 totalled 156, a 55.2 per cent decrease compared to the 348 sales in January 2022. The benchmark price of an attached home is $1,020,400. This represents a three per cent decrease from January 2022 and a 0.8 per cent increase compared to December 2022.
(Source, Real Estate Board of Greater Vancouver)