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:
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), 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 REBGV, 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 REBGV, the FVREB or the CADREB.
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