Courtesy of Taylor Brown

Delta Market Report for August 2023

Median Selling Price

$1,539,000 detached UP 4.2% year-to-year

52 SOLD LISTINGS

60.5% SALES TO NEW LISTING RATIO

86 NEW LISTINGS

23 13

detached

apartment

Seasonal slowdown brings price stability to Metro Vancouver

Vancouver, September 2023 – The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,296 in August 2023. “It’s been an interesting spring and summer market, to say the least” Andrew Lis, REBGV’s director of economics and data analytics said. “Borrowing costs are fluctuating around the highest levels we’ve seen in over ten years, yet Metro Vancouver’s housing market bucked many pundits’ predictions of a major slowdown, instead posting relatively strong sales numbers and year-to-date price gains north of eight per cent, regardless of home type.” There were 3,943 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service ® (MLS ® ) in Metro Vancouver in August 2023. The total number of homes currently listed for sale on the MLS ® system in Metro Vancouver is 10,082.

Sales of detached homes in August 2023 reached 591. The benchmark price for a detached home is $2,018,500 which represents a 3.3 per cent increase from August 2022. Sales of apartment homes reached 1,270 in August 2023. The benchmark price of an apartment home is $770,000. This represents a 4.4 per cent increase from August 2022. Attached home sales in August 2023 totalled 422. The benchmark price of an attached home is $1,103,900. This represents a 3.9 per cent increase from August 2022. Statistics reflect market activity in August 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.

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