Courtesy of Taylor Brown

Delta Market Report for December 2023

33 SOLD LISTINGS

32 NEW LISTINGS

detached 17 8 apartment 8 attached

detached 16 4 apartment 12 attached

103% SALES TO NEW LISTING RATIO

Housing market resilient in 2023, ends year in balanced territory

Vancouver, January 2024 – Metro Vancouver’s housing market closed out 2023 with balanced market conditions, but the year end totals mask a story of surprising resilience in the face of the highest borrowing costs seen in over a decade. “You could miss it by just looking at the year-end totals, but 2023 was a strong year for the Metro Vancouver housing market considering that mortgage rates were the highest they’ve been in over a decade,” Andrew Lis, REBGV’s director of economics and data analytics said. “In our 2023 forecast, we called for modest price increases throughout the year while most other forecasters were predicting price declines. The fact that we ended the year with five-per-cent-plus gains in home prices across all market segments demonstrates that Metro Vancouver remains an attractive and desirable destination, and elevated borrowing costs alone aren’t enough to dissuade buyers determined to get into this market.”

Residential sales in the region totalled 1,345 in December 2023. There were 1,327 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service ® (MLS ® ) in Metro Vancouver in December 2023. Sales of detached homes in December 2023 reached 376. The benchmark price for a detached home is $1,964,400 up 7.7 per cent from December 2022. Sales of apartment homes reached 719 in December 2023. The benchmark price of an apartment home is $751,300 which represents a 5.6 per cent increase from December 2022. Attached home sales in December 2023 totalled 238. The benchmark price of a townhouse is $1,072,700 a 6.4 per cent increase from December 2022. Statistics reflect market activity in December 2023 | Source: REBGV ® Real Estate Board of Greater Vancouver | Market values stated are of the Median Selling Price of Delta and surrounding region. Median Selling Prices are not reported for areas with less than 20 sales. 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.

WWW.TAYLORBROWNREALTY.COM INFO@TAYLORBROWNREALTY.COM 604.362.0350

TAYLOR BROWN REAL ESTATE TAYLOR BROWN PERSONAL REAL ESTATE CORPORATION

Privacy Disclosure: We respect your privacy. The sponsor indicated on the front panel provides a complimentary subscription of this publication to you, a valued client. If at any time or for any reason you do not want to receive this publication, please contact the sponsor using any of the contact info on the front panel, and your personal information will be removed from the mailing list immediately. Without response to this cancellation offer, we assume your implied consent and permission to continue provision. Disclaimer: This publication is distributed for the purpose of information only. It is not intended to solicit buyers or sellers currently under contract by a real estate firm or under contract with another Broker or Mortgage Specialist, nor is it intended to cause or induce breach of any existing agreement. Distributed by: dmsmarketing.ca Copyright© 2024 All Rights Reserved / Printed on recyclable material. The trademarks REALTOR ® , REALTORS ® and the REALTOR ® logo are controlled by CREA and identify real estate professionals who are members of CREA.

Made with FlippingBook - Online Brochure Maker