{"id":280,"date":"2023-10-04T14:33:54","date_gmt":"2023-10-04T18:33:54","guid":{"rendered":"https:\/\/www.alexkliang.com\/blog\/?p=280"},"modified":"2023-10-07T17:23:26","modified_gmt":"2023-10-07T21:23:26","slug":"september-2023-vancouver-real-estate-market-update","status":"publish","type":"post","link":"https:\/\/www.alexkliang.com\/blog\/2023\/10\/04\/september-2023-vancouver-real-estate-market-update\/","title":{"rendered":"September 2023 Vancouver Real Estate Market Update"},"content":{"rendered":"

As inventory increases, price gains relent in Metro Vancouver to begin the fall season<\/strong><\/p>\n

The month-over-month price gains seen earlier this year abated in the Metro Vancouver housing market in September, due to a seasonal decline in sales and a modest increase in inventory levels across the region.<\/p>\n

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,926 in September 2023, a 13.2% increase from the 1,701 sales recorded in September 2022. This was 26.3% below the 10-year seasonal average (2,614).<\/p>\n

\u201cA key dynamic that we\u2019ve been watching this year has been the reluctance of some homeowners to list their homes\u00a0given that mortgage rates are the highest they\u2019ve been in over ten years,\u201d Andrew Lis, REBGV\u2019s director of economics and data analytics said. \u201cWith fewer listings coming to the market earlier this year than usual, inventory levels remained very low, which led prices to increase throughout the spring and summer months.\u201d<\/p><\/blockquote>\n

There were 5,446 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service\u00ae (MLS\u00ae) in Metro Vancouver in September 2023. This represents a 28.4% increase compared to the 4,243 homes listed in September 2022. This was 5.2% above the 10-year seasonal average (5,179).<\/p>\n

The total number of homes currently listed for sale on the MLS\u00ae system in Metro Vancouver is 11,382, a 9.2% increase compared to September 2022 (10,427). This was 6.2% below the 10-year seasonal average (12,136).<\/p>\n

In South Surrey White Rock<\/a>, the detached market continues to show balanced conditions for both sellers and buyers<\/strong>. On average, detached homes are selling at a 12% sales ratio (1.2 in every 10 homes listed were sold during the month). The most active price band is for homes priced between $1.25m to $1.5m, with a 26% sales ratio (sellers market conditions).<\/p>\n

South Surrey White Rock Condos and Townhomes remain a sellers market at a 32% sales ratio. Notably, condos and townhomes in Pacific Douglas are selling at a high sales ratio of 50%. And condos across our entire area priced between $400,000 to $500,000 are selling at a >100% sales ratio.<\/p>\n

\"\"<\/p>\n

Alex K. Liang<\/strong>: 604-817-5179 |\u00a0Parm Pooni<\/strong>: 604-657-1742<\/p>\n","protected":false},"excerpt":{"rendered":"

As inventory increases, price gains relent in Metro Vancouver to begin the fall season The month-over-month price gains seen earlier this year abated in the Metro Vancouver housing market in … [read more<\/a>]<\/p>\n","protected":false},"author":2,"featured_media":284,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5],"tags":[63,58,60,41,28,40,6,24,68,69,30,50,23,31,26,48,73],"class_list":["post-280","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-alex-and-parm-team","tag-alex-k-liang","tag-alex-liang","tag-crescent-beach","tag-engel-and-volkers","tag-ocean-park","tag-real-estate","tag-real-estate-market-update","tag-realtor","tag-realtors","tag-south-surrey","tag-south-surrey-realtor","tag-vancouver-real-estate","tag-white-rock","tag-white-rock-real-estate","tag-white-rock-realtor","tag-white-rock-realtors"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.alexkliang.com\/blog\/wp-json\/wp\/v2\/posts\/280","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.alexkliang.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.alexkliang.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.alexkliang.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.alexkliang.com\/blog\/wp-json\/wp\/v2\/comments?post=280"}],"version-history":[{"count":4,"href":"https:\/\/www.alexkliang.com\/blog\/wp-json\/wp\/v2\/posts\/280\/revisions"}],"predecessor-version":[{"id":285,"href":"https:\/\/www.alexkliang.com\/blog\/wp-json\/wp\/v2\/posts\/280\/revisions\/285"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.alexkliang.com\/blog\/wp-json\/wp\/v2\/media\/284"}],"wp:attachment":[{"href":"https:\/\/www.alexkliang.com\/blog\/wp-json\/wp\/v2\/media?parent=280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.alexkliang.com\/blog\/wp-json\/wp\/v2\/categories?post=280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.alexkliang.com\/blog\/wp-json\/wp\/v2\/tags?post=280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}