Overview of the Real Estate Market in February 2023

According to the Real Estate Board of Greater Vancouver (REBGV) February sales were below-average sales activity, 47.2% decrease from the sales recorded in February 2022, however 76.9% increase from January 2023 sales.

The residential real estate market has shown declines in the recent sales activity comparing to last year sales. The recent data analysis suggest pricing is firming up now. Furthermore, some indicators shows we may see modest price increases this coming spring. The predicted statements are based on increase in sales activity and steady rates.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,123,400. This represents a 9.3% decrease over February 2022 and a 1.1% increase compared to January 2023. 

Here's a summary of the January 2023 housing market statistics:

Fraser Valley

Greater Vanvcouver

Metro Vancouver

Interested to discuss the current market situation, have some questions?

Wondering if its a good time to sell and buy? Looking for investment opportunity in a real estate market and want to hear pros and cons, lets dicsuss all the avilable options. 

Please contact us today at 604-442-9422

Anna Litvak Joseph PREC*, Top 10% of realtors in Greater Vancouver

British Columbia's Top real estate agent, Anna Litvak Joseph PREC,
BC Prime Real Estate Group


No comments

Post Your Comment:

Your email will not be published
Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.