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Welcome
to the Greater Vancouver Real Estate Newsletter, January
Edition!
Wishing
you a happy New Year! As
we enter 2025, the real estate market is a dynamic landscape full of
opportunities for buyers, sellers, and investors alike. To effectively
navigate the evolving market conditions, it's crucial to stay informed
and prepared.
Maintaining
awareness and adaptability will allow you to make informed decisions
that align with your real estate goals in the coming year.
January's real estate market updates are here!
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Home
sales register a strong finish to cap off 2024
VANCOUVER,
BC – January 3, 2025 – Home sales registered on the
Multiple
Listing Service® (MLS®) in Metro Vancouver1 rose over thirty per cent
in
December, compared to the previous year, signaling strengthening
demand-side
momentum to close out 2024. The Greater Vancouver REALTORS® (GVR)2
reports that
residential sales in the region totalled 26,561 in 2024, a 1.2 per cent
increase from the 26,249 sales recorded in 2023, and a 9.2 per cent
decrease
from the 29,261 sales in 2022. Last year’s sales total was 20.9 per
cent below
the 10-year annual sales average (33,559). “Looking back on 2024, it
could best
be described as a pivot year for the market after experiencing such
dramatic
increases in mortgage rates in the preceding years,” said Andrew Lis,
GVR’s
director of economics and data analytics...
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