Vancouver real estate: Home sales rise as newly listed properties add to supply
The Real Estate Board of Greater Vancouver says home sales ticked up last month as the continued increase of newly listed properties has given prospective homebuyers in the region among the largest selection to choose from since 2021.
The board says November home sales totalled 1,702, a 4.7 per cent increase from the same month last year, though it marked a slowdown from the prior month of October. The total was 33 per cent below the 10-year seasonal average of 2,538 for November.
There were 3,369 new listings of detached, attached and apartment properties last month, a 9.8 per cent increase from a year earlier, as new listings were 2.8 per cent below the 10-year seasonal average.
The composite benchmark home price in November for Metro Vancouver was $1,185,100, a 4.9 per cent increase from November 2022 and a one per cent decrease from October 2023.
Andrew Lis, the board's director of economics and data analytics, says the region has seen balanced market conditions since the summer, which are known to produce flatter price trends.
He says with most economists forecasting mortgage rates to fall modestly in 2024, market conditions for buyers “are arguably the most favourable we've seen in some time in our market.”
This report by The Canadian Press was first published Dec. 4, 2023.
CTVNews.ca Top Stories
Prince William and Kate release photo of daughter Charlotte to mark ninth birthday
Prince William and his wife Kate released a picture of their daughter Charlotte to mark the princess's ninth birthday on Thursday.
Doctors concerned about potential spread of bird flu in Canada
H5N1 or avian flu has been detected at dozens of US dairy farms and Canadian experts are urging surveillance on our side of the border too.
This Canadian restaurant just lowered its prices. Here's how it did it
A Canadian restaurant lowered its prices this week, and though news of price tags dropping rather than climbing sounds unusual, the business strategy in this case is not, according to experts in the field.
Man involved in Dartmouth, N.S., emergency alert earlier this week turns himself in
A 49-year-old man has been charged in connection with an alleged assault that happened earlier this week in Dartmouth, N.S.
Concerns about Plexiglas prompt inspections at some Loblaws locations in Ottawa
Inspections are underway at more than one Loblaws location in Ottawa after complaints were filed about tall Plexiglas barriers.
Five human skeletons, missing hands and feet, found outside house of Nazi leader Hermann Goring
Archeologists have unearthed the skeletons of five people, missing their hands and feet, at a former Nazi military base in Poland.
Imagine living in a 4-foot body that doesn't develop chronic diseases
Nathaly Paola Castro Torres has a rare disorder called Laron syndrome that is caused by a genetic mutation. It stunts her growth but also provides a hidden silver lining: Her body is protected from chronic diseases such as cancer that often take life away long before old age.
'Oh, there you go': Tyler Black, son of veteran broadcaster Rod Black, has memorable Major League Baseball debut
Canadian baseball player Tyler Black made a major splash in his first-ever big league game for the Milwaukee Brewers on Tuesday night.
Groundbreaking American guitarist Duane Eddy dies age 86
Guitarist Duane Eddy, best known for twangy riffs on hits such as 'Rebel Rouser' and 'Cannonball,' has died at the age of 86.