With just one month remaining in 2023, the housing inventory in Metro Vancouver is experiencing a steady rise. This increase presents home buyers with an extensive selection, the largest since 2021. According to the Real Estate Board of Greater Vancouver (REBGV), residential sales in the region reached a total of 1,702 in November 2023. This … Read more
The average rent prices in Metro Vancouver have experienced a notable downward trend for the past two consecutive months. In November, the average monthly rent price for an unfurnished one-bedroom unit witnessed a significant decrease of $44, resulting in a new average of $2,362. It is interesting to note that when comparing this year’s average … Read more
The latest report from the Real Estate Board of Greater Vancouver (REBGV) reveals a surge in newly listed properties, providing more choices for homebuyers in Metro Vancouver. October 2023 witnessed a notable rise in newly listed properties, offering a more diverse range for those in the market. Although residential sales experienced a modest uptick, they … Read more
October’s data highlights a shift in pricing dynamics for one-bedroom units, with furnished accommodations experiencing a notable upswing in average prices, as opposed to a decline in the cost of unfurnished units. Notably, unfurnished one-bedroom units are now, on average, $220 more budget-friendly than their furnished counterparts as of October. Landlords who furnish their units … Read more
The price gains witnessed on a month-over-month basis earlier this year subsided in September within the Metro Vancouver housing market. This was primarily attributed to a seasonal decline in sales and a slight uptick in inventory levels across the region. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region … Read more
For September 2023, Metro Vancouver’s average rent prices have increased once again, marking six consecutive month-to-month increases beginning in the spring of this year. This month, the average monthly rent price for an unfurnished, one-bedroom unit rose by a further $32, to a new average of $2,438.The region’s average monthly rent price has now increased … Read more
As the summer comes to an end, the Metro Vancouver housing market is experiencing the impact of increased borrowing costs. Price gains are starting to cool down and sales are slowing down, following the seasonal pattern in a predictable manner. “It’s been an interesting spring and summer market, to say the least. Borrowing costs are … Read more
With the B.C. Lower Mainland embracing the summer season, it also welcomes a surge in demand and a subsequent increase in average rent prices for this August. Notably, this comes amidst another hike in the Bank of Canada’s target overnight rate. It is highly likely that this summer will establish new milestones for average rental … Read more
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,455 in July 2023, a 28.9 percent increase from the 1,904 sales recorded in July 2022. This was 15.6 percent below the 10-year seasonal average (2,909). “While sales remain about 15 per cent below the ten-year average, they … Read more
Rental prices in Metro Vancouver have seen yet another increase for the fourth consecutive month. In July, the average rent prices for unfurnished one-bedroom units across the region climbed by an additional $51 compared to the previous month, reaching an average cost of $2,381. Since July 2022, the average rent for unfurnished one-bedroom units in … Read more
Following the prevalent trend observed in the housing market this year, the benchmark price for all types of homes in Metro Vancouver witnessed an increase this June. The surge in homebuyer demand collided with a restricted inventory of homes available for sale in the region. The market continues to outperform expectations across all segments, but … Read more
Although not as dramatic as the previous month, rental rates in Metro Vancouver were still on the rise this June. The average monthly rent for an unfurnished, one-bedroom unit increased for the third consecutive month, adding another $12 to reach a regional average cost of $2,330. Since June 2022, the average rent for an unfurnished, … Read more