Courtesy of Michael Tanlimco

MICHAEL TANLIMCO & JANET TANLIMCO

Home buyer demand continues to strengthen in November

ACTIVE LISTINGS 13,245

BENCHMARK PRICE Detached $1,997,400

BENCHMARK PRICE Apartment $752,800

VANCOUVER, December 3, 2024 – The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,181 in November 2024. “When we saw demand pick up in October, there was still a question over whether it was a blip in the data or the start of an emerging trend,” Andrew Lis, GVR’s director of economics and data analytics said. “While the November market isn’t quite a Cyber Monday door crasher, buyers are continuing to take advantage of the relatively balanced market conditions while they last.” There were 3,725 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in November 2024. The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 13,245. The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,172,100. This represents a 0.9 per cent decrease over November 2023. Sales of detached homes in November 2024 reached 626. The benchmark price for a detached home is $1,997,400. This represents a one per cent increase from November 2023. The benchmark price of an apartment home is $752,800. This represents a 1.2 per cent decrease from November 2023 and a 0.6 per cent decrease compared to October 2024. Source: The Greater Vancouver REALTORS® | Market values stated are of the benchmark of Vancouver and surrounding region. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

CLICK FOR FULL REPORT

Or Call With Your Real Estate Market Questions

OUTSTANDING AGENTS. OUTSTANDING RESULTS

604.571.0909 | www.michaeltanlimco.com