RSS

MARKET STATISTICS- MAY 2024

In May, the number of transactions on the Multiple Listing Service® (MLS®) in Metro Vancouver decreased compared to the usual levels for this time of year. This decline has led to an accumulation of homes for sale, with over 13,000 properties now actively listed on the MLS® in the region

Detached Home Sales- In May 2024, sales of detached homes reached 846, an 18.9% decrease from the 1,043 detached sales recorded in May 2023. The benchmark price for a detached home is now $2,062,600, representing a 5.9% increase from May 2023 and a 1.3% increase compared to April 2024.

Apartment Home Sales- In May 2024, sales of apartment homes reached 1,338, marking a 22.7% decrease compared to the 1,730 sales in May 2023. The benchmark price for an apartment home is $776,200, which represents a 2.2% increase from May 2023 and a 0.3% decrease compared to April 2024.

Attached Home Sales- In May 2024, attached home sales totaled 523, a 14% decrease compared to the 608 sales in May 2023. The benchmark price for a townhouse is $1,145,600, which represents a 5.2% increase from May 2023 and a 0.9% increase compared to April 2024.

Market trends now shifting toward more balanced conditions as new listings outpace sales, the price growth expected to be slower in the coming months. With increasing inventory levels and weakening demand, buyers who have been waiting for an opportunity might find more favorable conditions this summer, even if borrowing costs remain high.

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 discuss all the available options. 

Please contact us today at 604-442-9422

ABOUT ANNA LITVAK JOSEPH

Anna is a licensed REALTOR® based in Greater Vancouver and providing trading real estate services across Metro Vancouver, Greater Vancouver, Fraser Valley & Kelowna. Anna has an impressive track record and a wealth of experience in all the aspects of the real estate industry. As a full-time REALTOR®, Anna is dedicated to providing her clients with top-notch service, expert advice, and outstanding results in their real estate transactions. Anna emphasizes the importance of building valuable relationships and ensuring client satisfaction from the initial thoughts of making a move and through the home ownership journey. Her customer-centric approach is fundamental to her business philosophy.

With over 15 years of sales experience & entrepreneurship, Anna brings a high level of professionalism, customer service, and integrity to her real estate career. Anna’s outstanding performance in real estate is underscored by her impressive achievements. She qualified as a  Medallion Club Member in 2018, 2019, 2020, 2021, 2022,  and 2023 placing her among the top 10% of real estate agents in Greater Vancouver. Anna has worked hard to gain numerous 5 star testimonials, and is being featured in several publications year over year, including Vancouver Excellence in Real Estate, Top agent Magazines, and more. Anna is also highly ranked in multiple cities across RATE-MY-AGENT.

Anna’s professionalism, expertise and knowledge is the reason why the majority of her business today consists of referral or repeat customers.  

About the team: BC PRIME REALTY GROUP is a full-service real estate team that has grown over the years to a trusted brand that provides service to thousands of happy buyers and sellers.

Their dedication has been acknowledged with the prestigious Medallion Club award in 2023, highlighting their excellence as one of the top 10% teams among real estate groups in Greater Vancouver.

BC PRIME REALTY GROUP values diversity and relationship, therefore they follow client- centric approach, making it stress-free journey throughout their real estate experience.

BC PRIME GROUP is truly passionate about their mission of deliver excellence in Real Estate by building long term relationships. Their professionalism, expertise and knowledge is the reason why the majority of their business consists of referral or repeat customers. 

MEET TEAM MEMBERS

Listings  | Selling a Home  | Home Evaluation  | Moving to BC  | Investors 

Market Statistics  | Customized Market Insights 

Read

LIMITED TIME OFFER!
LIMITED TIME OFFER!

West Coquitlam has evolved into a united community, solidifying its position as one of Greater Vancouver's top neighborhoods. This contemporary area offers a plethora of modern amenities, dining choices, and more.

This exciting skyline boasts 45 soaring stories and located at the heart of West Coquitlam.

Take advantage of a special offer:

Secure your residence today with a 5% down payment now and another 5% in 6 months. Plus, enjoy a discount on the purchase price of any home for a limited time

Nestled at the base of Burnaby Mountain, this project provides access to the quintessential British Columbia lifestyle right on your doorstep. Enjoy breathtaking natural surroundings, active living, and urban conveniences, all within a 15-minute radius from this new development:

  • Explore hiking, walking, and cycling trails at Burnaby Mountain.

  • Experience the state-of-the-art Bettie Allard YMCA.

  • Enjoy recreation at Cameron Park & Recreation Complex.

  • Access resources at Burnaby Library (Cameron Branch).

  • Relax at Cottonwood Park.

  • Conveniently shop at Northgate Mall for your daily needs.


Please contact us today at 604-442-9422

 

ABOUT ANNA LITVAK JOSEPH

Anna is a licensed REALTOR® based in Greater Vancouver and providing trading real estate services across Metro Vancouver, Greater Vancouver, Fraser Valley & Kelowna. Anna has an impressive track record and a wealth of experience in all the aspects of the real estate industry. As a full-time REALTOR®, Anna is dedicated to providing her clients with top-notch service, expert advice, and outstanding results in their real estate transactions. Anna emphasizes the importance of building valuable relationships and ensuring client satisfaction from the initial thoughts of making a move and through the home ownership journey. Her customer-centric approach is fundamental to her business philosophy.

With over 15 years of sales experience & entrepreneurship, Anna brings a high level of professionalism, customer service, and integrity to her real estate career. Anna’s outstanding performance in real estate is underscored by her impressive achievements. She qualified as a  Medallion Club Member in 2018, 2019, 2020, 2021, 2022, and 2023 placing her among the top 10% of real estate agents in Greater Vancouver. Anna has worked hard to gain numerous 5 star testimonials, and is being featured in several publications year over year, including Vancouver Excellence in Real Estate, Top agent Magazines, and more. Anna is also highly ranked in multiple cities across RATE-MY-AGENT.

Anna’s professionalism, expertise and knowledge is the reason why the majority of her business today consists of referral or repeat customers.  

About the team: BC PRIME REALTY GROUP is a full-service real estate team that has grown over the years to a trusted brand that provides service to thousands of happy buyers and sellers.

Their dedication has been acknowledged with the prestigious Medallion Club award in 2023, highlighting their excellence as one of the top 10% teams among real estate groups in Greater Vancouver.

BC PRIME REALTY GROUP values diversity and relationship, therefore they follow client- centric approach, making it stress-free journey throughout their real estate experience.

BC PRIME GROUP is truly passionate about their mission of deliver excellence in Real Estate by building long term relationships. Their professionalism, expertise and knowledge is the reason why the majority of their business consists of referral or repeat customers. 

MEET TEAM MEMBERS

Listings  | Selling a Home  | Home Evaluation  | Moving to BC  | Investors 

Market Statistics  | Customized Market Insights 

Read

MARKET STATISTICS- APRIL 2024

In April, the number of homes actively listed for sale on the MLS® in Metro Vancouver surged by 42% compared to the previous year, surpassing the 12,000 mark. This level of inventory hasn't been observed in the region since the summer of 2020.

Detached Home Sales- In April 2024, sales of detached homes reached 814, marking a 0.7% increase from the 808 detached sales recorded in April 2023. The benchmark price for a detached home is $2,040,000.

Apartment Home Sales- In April 2024, sales of apartment homes reached 1,416, showing a marginal 0.2% increase compared to the 1,413 sales in April 2023. The benchmark price of an apartment home is $776,500.

Attached Home Sales: In April 2024, attached home sales totaled 580, reflecting a notable 16% increase compared to the 500 sales in April 2023. The benchmark price of a townhouse is $1,127,200.

Despite expectations of a rapid increase following the Bank of Canada's aggressive rate hikes, inventory has steadily climbed in recent data. The surprise for many has been the ongoing demand strength and the limited number of homeowners forced to sell despite the highest borrowing costs in over a decade.

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 discuss all the available options. 

Please contact us today at 604-442-9422


ABOUT ANNA LITVAK JOSEPH

Anna is a licensed REALTOR® based in Greater Vancouver and providing trading real estate services across Metro Vancouver, Greater Vancouver, Fraser Valley & Kelowna. Anna has an impressive track record and a wealth of experience in all the aspects of the real estate industry. As a full-time REALTOR®, Anna is dedicated to providing her clients with top-notch service, expert advice, and outstanding results in their real estate transactions. Anna emphasizes the importance of building valuable relationships and ensuring client satisfaction from the initial thoughts of making a move and through the home ownership journey. Her customer-centric approach is fundamental to her business philosophy.

With over 15 years of sales experience & entrepreneurship, Anna brings a high level of professionalism, customer service, and integrity to her real estate career. Anna’s outstanding performance in real estate is underscored by her impressive achievements. She qualified as a  Medallion Club Member in 2018, 2019, 2020, 2021, 2022, and 2023 placing her among the top 10% of real estate agents in Greater Vancouver. Anna has worked hard to gain numerous 5 star testimonials, and is being featured in several publications year over year, including Vancouver Excellence in Real Estate, Top agent Magazines, and more. Anna is also highly ranked in multiple cities across RATE-MY-AGENT.

Anna’s professionalism, expertise and knowledge is the reason why the majority of her business today consists of referral or repeat customers.  

About the team: BC PRIME REALTY GROUP is a full-service real estate team that has grown over the years to a trusted brand that provides service to thousands of happy buyers and sellers.

Their dedication has been acknowledged with the prestigious Medallion Club award in 2023, highlighting their excellence as one of the top 10% teams among real estate groups in Greater Vancouver.

BC PRIME REALTY GROUP values diversity and relationship, therefore they follow client- centric approach, making it stress-free journey throughout their real estate experience.

BC PRIME GROUP is truly passionate about their mission of deliver excellence in Real Estate by building long term relationships. Their professionalism, expertise and knowledge is the reason why the majority of their business consists of referral or repeat customers. 

MEET TEAM MEMBERS

Listings  | Selling a Home  | Home Evaluation  | Moving to BC  | Investors 

Market Statistics  | Customized Market Insights 


Read

MARKET STATISTICS- MARCH 2024

The number of homes listed for sale on the MLS® in Metro Vancouver surged by almost 23% compared to the previous year, presenting increased opportunities for buyers in search of a new home this spring.

Detached Home Sales- In March 2024, sales of detached homes totaled 694, marking a 5.4% decline from the 734 detached sales recorded in March 2023. Concurrently, the benchmark price for a detached home stood at $2,007,900, reflecting a notable 7.4% upturn from March 2023 and a modest 1.8% increase compared to February 2024.

Apartment Home Sales- In March 2024, sales of apartment homes totaled 1,207, indicating a 7.9% decrease compared to the 1,311 sales recorded in March 2023. Meanwhile, the benchmark price of an apartment home stood at $777,500, reflecting a 5.7% increase from March 2023 and a marginal 0.9% rise compared to February 2024.

Attached Home Sales- In March 2024, sales of attached homes reached 495, marking a notable 6.2% increase compared to the 466 sales recorded in March 2023. Additionally, the benchmark price of a townhouse stood at $1,112,800, indicating a 5% escalation from March 2023 and a 1.7% increase compared to February 2024.

Even with the market showing signs of cooling compared to previous years, there are still modest month-over-month price gains ranging from one to two percent at the aggregate level. This trend is notable considering the persistently high borrowing costs. Despite expectations of one or two modest cuts to the Bank of Canada's policy rate in 2024, as indicated by the favorable direction of recent inflation numbers, these adjustments may not necessarily translate into significant improvements in affordability. Consequently, constrained borrowing power is anticipated to continue posing challenges as we transition into the summer months.

Fraser Valley

Greater Vancouver

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


ABOUT ANNA LITVAK JOSEPH

Anna is a licensed REALTOR® based in Greater Vancouver and providing trading real estate services across Metro Vancouver, Greater Vancouver, Fraser Valley & Kelowna. Anna has an impressive track record and a wealth of experience in all the aspects of the real estate industry. As a full-time REALTOR®, Anna is dedicated to providing her clients with top-notch service, expert advice, and outstanding results in their real estate transactions. Anna emphasizes the importance of building valuable relationships and ensuring client satisfaction from the initial thoughts of making a move and throught the home ownership journey. Her customer-centric approach is fundamental to her business philosophy.

With over 15 years of sales experience & entrepreneurship, Anna brings a high level of professionalism, customer service, and integrity to her real estate career. Anna’s outstanding performance in real estate is underscored by her impressive achievements. She qualified as a  Medallion Club Member in 2018, 2019, 2020, 2021, 2022, and 2023 placing her among the top 10% of real estate agents in Greater Vancouver. Anna has worked hard to gain numerous 5 star testimonials, and is being featured in several publications year over year, including Vancouver Excellence in Real Estate, Top agent Magazines, and more. Anna is also highly ranked in multiple cities across RATE-MY-AGENT.

Anna’s professionalism, expertise and knowledge is the reason why the majority of her business today consists of referral or repeat customers.  

About the team: BC PRIME REALTY GROUP is a full-service real estate team that has grown over the years to a trusted brand that provides service to thousands of happy buyers and sellers.

Their dedication has been acknowledged with the prestigious Medallion Club award in 2023, highlighting their excellence as one of the top 10% teams among real estate groups in Greater Vancouver.

BC PRIME REALTY GROUP values diversity and relationship, therefore they follow client- centric approach, making it stress-free journey throughout their real estate experience.

BC PRIME GROUP is truly passionate about their mission of deliver excellence in Real Estate by building long term relationships. Their professionalism, expertise and knowledge is the reason why the majority of their business consists of referral or repeat customers. 

MEET TEAM MEMBERS

Listings  | Selling a Home  | Home Evaluation  | Moving to BC  | Investors 

Market Statistics  | Customized Market Insights 


Read

MARKET STATISTICS- FEBRUARY 2024

Although Metro Vancouver home sellers displayed some caution in January, the market saw a notable increase in new listings with a 31% year-over-year rise in February. This influx brought a substantial number of recently listed properties to the market. 

Detached Home Sales: In February 2024, sales of detached homes totaled 560, marking an 8.3% increase from the 517 detached sales recorded in February 2023.The benchmark price for a detached home in this period stands at $1,972,400.

Apartment Home Sales: In February 2024, apartment home sales amounted to 1,092, reflecting a 17.7% increase compared to the 928 sales recorded in February 2023. The benchmark price for an apartment home during this period is $770,700.

Attached Home Sales: In February 2024, sales of attached homes reached 403, marking a 10.1% increase compared to the 366 sales recorded in February 2023. The benchmark price for a townhouse during this period stands at $1,094,700.

According to the Real Estate Board of Greater Vancouver (REBGV), even with the increase in new listings, the current inventory levels failed to keep up with the pace of sales, leading to continued price acceleration in February. Consequently, most segments of the market shifted into sellers' market. The competitive dynamics have resulted in moderate price growth across all market segments this month. However, it's worth noting that benchmark prices are still below the peak observed in the spring of 2022, before the market fully internalized the impact of the Bank of Canada's tightening cycle.

Fraser Valley

Greater Vancouver

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


ABOUT ANNA LITVAK JOSEPH

Anna is a licensed REALTOR® based in Greater Vancouver and providing trading real estate services across Metro Vancouver, Greater Vancouver, Fraser Valley & Kelowna. Anna has an impressive track record and a wealth of experience in all the aspects of the real estate industry. As a full-time REALTOR®, Anna is dedicated to providing her clients with top-notch service, expert advice, and outstanding results in their real estate transactions. Anna emphasizes the importance of building valuable relationships and ensuring client satisfaction from the initial thoughts of making a move and throught the home ownership journey. Her customer-centric approach is fundamental to her business philosophy.

With over 15 years of sales experience & entrepreneurship, Anna brings a high level of professionalism, customer service, and integrity to her real estate career. Anna’s outstanding performance in real estate is underscored by her impressive achievements. She qualified as a  Medallion Club Member in 2018, 2019, 2020, 2021, and 2022, placing her among the top 10% of real estate agents in Greater Vancouver. Anna has worked hard to gain numerous 5 star testimonials, and is being featured in several publications year over year, including Vancouver Excellence in Real Estate, Top agent Magazines, and more. Anna is also highly ranked in multiple cities across RATE-MY-AGENT.

Anna’s professionalism, expertise and knowledge is the reason why the majority of her business today consists of referral or repeat customers.  

About the team: BC PRIME REALTY GROUP is a full-service real estate team that has grown over the years to a trusted brand that provides service to thousands of happy buyers and sellers.

BC PRIME REALTY GROUP values diversity and relationship, therefore they follow client- centric approach, making it stress-free journey throughout their real estate experience.

BC PRIME GROUP is truly passionate about their mission of deliver excellence in Real Estate by building long term relationships. Their professionalism, expertise and knowledge is the reason why the majority of their business consists of referral or repeat customers. 

MEET TEAM MEMBERS

Listings  | Selling a Home  | Home Evaluation  | Moving to BC  | Investors 

Market Statistics  | Customized Market Insights 



Read

January 2024 Market Statistics

Metro Vancouver market concluded 2023 in a balanced state, the dynamics shifted in January, favoring sellers as the rate of newly listed properties failed to match the surge in home sales.

According to the Real Estate Board of Greater Vancouver (REBGV) In January 2024, residential sales in the region reached 1,427, marking a significant 38.5% increase compared to the 1,030 sales recorded in January 2023.

In January 2024, there were 3,788 newly listed detached, attached, and apartment properties for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver. This indicates a 14.5% increase compared to the 3,308 properties listed in January 2023. However, it was 9.1% below the 10-year seasonal average of 4,166.

Detached Home Sales: In January 2024, sales of detached homes surged to 379, reflecting a notable 28% increase from the 296 detached sales recorded in January 2023. The benchmark price for a detached home in this period stands at $1,942,400.

Apartment Home Sales: In January 2024, sales of apartment homes totaled 746, marking a substantial 30.6% increase from the 571 sales recorded in January 2023. The benchmark price for an apartment home during this period is $751,900.

Attached Home Sales: In January 2024 sales amounted to 285, reflecting a remarkable 82.7% increase compared to the 156 sales recorded in January 2023. The benchmark price for a townhouse during this period stands at $1,066,700.

According to the Real Estate Board of Greater Vancouver (REBGV), 2024 forecast predicts a two to three percent price increase by the year-end, primarily driven by demand surpassing limited inventory. 

Fraser Valley

Greater Vancouver

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

ABOUT ANNA LITVAK JOSEPH

Anna is a licensed REALTOR® based in Greater Vancouver and providing trading real estate services across Metro Vancouver, Greater Vancouver, Fraser Valley & Kelowna. Anna has an impressive track record and a wealth of experience in all the aspects of the real estate industry. As a full-time REALTOR®, Anna is dedicated to providing her clients with top-notch service, expert advice, and outstanding results in their real estate transactions. Anna emphasizes the importance of building valuable relationships and ensuring client satisfaction from the initial thoughts of making a move and throught the home ownership journey. Her customer-centric approach is fundamental to her business philosophy.

With over 15 years of sales experience & entrepreneurship, Anna brings a high level of professionalism, customer service, and integrity to her real estate career. Anna’s outstanding performance in real estate is underscored by her impressive achievements. She qualified as a  Medallion Club Member in 2018, 2019, 2020, 2021, and 2022, placing her among the top 10% of real estate agents in Greater Vancouver. Anna has worked hard to gain numerous 5 star testimonials, and is being featured in several publications year over year, including Vancouver Excellence in Real Estate, Top agent Magazines, and more. Anna is also highly ranked in multiple cities across RATE-MY-AGENT.

Anna’s professionalism, expertise and knowledge is the reason why the majority of her business today consists of referral or repeat customers.  

About the team: BC PRIME REALTY GROUP is a full-service real estate team that has grown over the years to a trusted brand that provides service to thousands of happy buyers and sellers.

BC PRIME REALTY GROUP values diversity and relationship, therefore they follow client- centric approach, making it stress-free journey throughout their real estate experience.

BC PRIME GROUP is truly passionate about their mission of deliver excellence in Real Estate by building long term relationships. Their professionalism, expertise and knowledge is the reason why the majority of their business consists of referral or repeat customers. 

MEET TEAM MEMBERS

Listings  | Selling a Home  | Home Evaluation  | Moving to BC  | Investors 

Market Statistics  | Customized Market Insights 


Read

DECEMBER 2023 MARKET STATISTICS

The conclusion of 2023 witnessed Metro Vancouver's housing market maintaining balanced conditions. However, behind the year-end totals lies a narrative of unexpected resilience, overcoming the challenges posed by the highest borrowing costs experienced in over a decade.

In 2023, the total number of properties listed on the Multiple Listing Service® (MLS®) in Metro Vancouver amounted to 50,893, indicating a 7.5 percent decline compared to the 55,047 properties listed in 2022.

The sales of detached homes in December 2023 totaled 376, marking a 1.3% uptick from the 371 detached sales recorded in December 2022. The benchmark price for a detached home stands at $1,964,400, indicating a 7.7% rise from December 2022 and a 0.9% decline compared to November 2023.

The sales of apartments in December 2023 reached 719, reflecting a 2.4% increase compared to the 702 sales recorded in December 2022. The benchmark price for an apartment home is $751,300, marking a 5.6% increase from December 2022 and a 1.5% decrease compared to November 2023.

The sales of attached homes in December 2023 reached 238, indicating a 7.2% increase compared to the 222 sales in December 2022. The benchmark price for a townhouse is $1,072,700, reflecting a 6.4% increase from December 2022 and a 1.8% decrease compared to November 2023.

Reflecting on the year, one cannot help but ponder the potential outcome of closing out 2023 if mortgage rates had been a few percentage points lower. The prospect of gaining insights into this question seems promising for 2024, as bond markets and expert forecasters anticipate a likelihood of lower borrowing costs. Modest rate cuts are expected in the first half of the 2024.

Fraser Valley

Greater Vancouver

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

ABOUT ANNA LITVAK JOSEPH

Anna is a licensed REALTOR® based in Greater Vancouver and providing trading real estate services across Metro Vancouver, Greater Vancouver, Fraser Valley & Kelowna. Anna has an impressive track record and a wealth of experience in all the aspects of the real estate industry. As a full-time REALTOR®, Anna is dedicated to providing her clients with top-notch service, expert advice, and outstanding results in their real estate transactions. Anna emphasizes the importance of building valuable relationships and ensuring client satisfaction from the initial thoughts of making a move and throught the home ownership journey. Her customer-centric approach is fundamental to her business philosophy.

With over 15 years of sales experience & entrepreneurship, Anna brings a high level of professionalism, customer service, and integrity to her real estate career. Anna’s outstanding performance in real estate is underscored by her impressive achievements. She qualified as a  Medallion Club Member in 2018, 2019, 2020, 2021, and 2022, placing her among the top 10% of real estate agents in Greater Vancouver. Anna has worked hard to gain numerous 5 star testimonials, and is being featured in several publications year over year, including Vancouver Excellence in Real Estate, Top agent Magazines, and more. Anna is also highly ranked in multiple cities across RATE-MY-AGENT.

Anna’s professionalism, expertise and knowledge is the reason why the majority of her business today consists of referral or repeat customers.  

About the team: BC PRIME REALTY GROUP is a full-service real estate team that has grown over the years to a trusted brand that provides service to thousands of happy buyers and sellers.

BC PRIME REALTY GROUP values diversity and relationship, therefore they follow client- centric approach, making it stress-free journey throughout their real estate experience.

BC PRIME GROUP is truly passionate about their mission of deliver excellence in Real Estate by building long term relationships. Their professionalism, expertise and knowledge is the reason why the majority of their business consists of referral or repeat customers. 

MEET TEAM MEMBERS

Listings  | Selling a Home  | Home Evaluation  | Moving to BC  | Investors 

Market Statistics  | Customized Market Insights 

Read

MARKET STATISTICS- OCTOBER 2023

The Real Estate Board of Greater Vancouver (REBGV) has reported that residential sales in the region reached a total of 1,996 in October 2023. This represents a 3.7% increase compared to the 1,924 sales recorded in October 2022.


Detached Home Sales: In October 2023, there were 577 sales of detached homes, which is a 0.7% decrease compared to the 581 detached sales recorded in October 2022.  The benchmark price for a detached home in Metro Vancouver was $2,001,400 in October 2023.


Apartment Home Sales: In October 2023, there were 1,044 sales of apartment homes, marking a 4.9% increase compared to the 995 sales recorded in October 2022. The benchmark price for an apartment home in Metro Vancouver was $770,200 in October 2023.


Attached Home Sales: In October 2023, there were 356 sales of attached homes, which represents a 6.6% increase compared to the 334 sales recorded in October 2022. The benchmark price for an attached home in Metro Vancouver was $1,100,500 in October 2023.


The overall market conditions have adjusted towards a more balanced state. The multifamily segment (which includes properties like apartments and townhomes) is experiencing more activity compared to the detached segment (single-family homes) at this time. This indicates that there may be a stronger demand for multifamily properties. Balanced market conditions can influence pricing, negotiation power, and the overall real estate experience for all parties involved.


Fraser Valley

Greater Vancouver

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

Anna is a licensed REALTOR® based in Coquitlam and working all over Greater Vancouver, has an impressive track record and a wealth of experience in the real estate industry. Anna emphasizes the importance of building valuable relationships and ensuring client satisfaction. This customer-centric approach is fundamental to her business philosophy.

With over 10 years of sales experience and a background as a successful entrepreneur, Anna brings a high level of professionalism, customer service, and integrity to her real estate career. Anna’s outstanding performance in real estate is underscored by her impressive achievements. She qualified as a President's Medallion Club Member in 2018, 2019, 2020, 2021, and 2022, placing her among the top 10% of real estate agents in Greater Vancouver.

As a full-time REALTOR®, Anna is dedicated to providing her clients with top-notch service, expert advice, and outstanding results in their real estate transactions.

Anna’s professional experience and education in online marketing give her a unique perspective on effectively marketing homes in various locations, including Coquitlam, Port Coquitlam, Port Moody, Burnaby, Pitt Meadows, Maple Ridge, New Westminster, and the Lower Mainland.

Anna’s impressive background and dedication to her clients make her a highly respected and successful real estate professional in the Greater Vancouver area and beyond. Her commitment to professionalism, integrity, and achieving outstanding results is evident in her track record and industry recognition." 

BC PRIME REALTY GROUP is a full-service real estate team that has grown over the years to a trusted brand that provides service to thousands of happy buyers and sellers.

BC PRIME REALTY GROUP values diversity and relationship, therefore they follow client- centric approach, making it stress-free journey throughout their real estate experience.

BC PRIME GROUP is truly passionate about their mission of deliver excellence in Real Estate by building long term relationships. Their professionalism, expertise and knowledge is the reason why the majority of their business consists of referral or repeat customers.  

MEET THE TEAM

Read

MARKET STATISTICS- SEPTEMBER 2023

Metro Vancouver housing market experienced a slowdown in price gains and a shift in supply and demand dynamics during September, which is consistent with typical seasonal patterns in the real estate market. In September, there was a decline in sales activity. This seasonal pattern is common in real estate, with market activity often slowing down as summer transitions into the fall. Inventory levels in the market increased modestly in September. This suggests that more properties became available for sale, potentially giving buyers more options.

In September 2023, a total of 5,446 properties, including detached homes, attached homes, and apartment properties, were newly listed for sale on the Multiple Listing Service® (MLS®). This number represents a substantial 28.4 % increase in new listings compared to September 2022, when 4,243 homes were listed for sale. 

Detached Home Sales: In September 2023, there were 572 sales of detached homes, which is a 7.5% increase compared to the 532 detached sales recorded in September 2022. The benchmark price for a detached home in September 2023 is $2,017,100. This represents a 5.8% increase from the same month in the previous year (September 2022).

Apartment Home Sales: In September 2023, there were 988 sales of apartment homes, marking an 11.3% increase compared to the 888 sales recorded in September 2022. The benchmark price for an apartment home in September 2023 stands at $768,500. This represents a 5.8% increase from the same month in the previous year (September 2022).

Attached Home Sales: In September 2023, there were 352 sales of attached homes, which represents a substantial 28.5% increase compared to the 274 sales recorded in September 2022. The benchmark price for an attached home in September 2023 is $1,098,400. This benchmark price reflects the average value of attached homes in the market.

Fraser Valley

Greater Vancouver

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

BC Prime Real Estate Group

604-442-9422

anna@bcprimerealty.com

Keller Williams Elite Realty, Port Coquitlam, B.C.

Read

Pre-Qualification &  Pre-Approval

Here's the difference between pre-qualification and pre-approval: during the mortgage application process, you will speak with a lender (or maybe several as you shop around for the best loan options). During your initial conversation, your lender is going to ask you a series of questions about your financial situation. During that conversation, they will let you know approximately how much mortgage they think that you'll qualify for and what the top of your price range should be during the house-hunting process. This is your pre-qualification, not pre-approval.

Your pre-approval will take place once your lender runs your credit score, checks bank statements, verifies employment and reviews proof of assets or investments (every situation is a little bit different). It is important to know the distinction because unless you have an official pre-approval letter signed by your lender in-hand, you are not pre-approved.

In this competitive market, it's crucial to submit a pre-approval letter with your offer and the last thing I would want is for you to miss out on your home because of a little confusion. If you are ready to get pre-qualified or pre-approved, just DM me and I'll refer you to one of my lender partners for initial conversation.


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

BC Prime Real Estate Group

604-442-9422

anna@bcprimerealty.com

Keller Williams Elite Realty, Port Coquitlam, B.C.


Read

HOME BUYER MYTH

Here's why the highest offer doesn't always win.

While it's true that in many cases, a home seller will take the highest offer on their home to maximize their return on investment, there is no guarantee that the highest offer will be accepted.

Check out these three scenarios where the highest offer might not talk the loudest:

1. All-cash offer: When you pay in cash, sellers sleep easy, knowing there's no risk of financing going sideways. Confidence is a key selling point!

2. Swift closure: Got the ability to close quickly? That's golden, especially if the seller is on a strict timeline. Speed can beat the highest bidder.

3. No strings attached: Offers without contingencies can be very tempting, as they minimize potential complications and delays.​

So while putting your best financial foot forward is important, remember, it's not always about the money. Each seller has their own priorities.

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

BC Prime Real Estate Group

604-442-9422

anna@bcprimerealty.com

Keller Williams Elite Realty, Port Coquitlam, B.C.


Read

SELLER'S DISCLOSURE

Buyers, you do not want to miss this essential document!

Understanding the seller’s disclosure, also known as a Property Disclosure Statement (PDS), is integral to your buyer's due diligence.

It’s a legal document provided by the seller that details the condition of the property. It helps you as the buyer make an informed decision and decide whether or not to buy the property. British Colunbia require a seller’s disclosure as it supports both parties. In contrast, other Provinces only require you to disclose a latent material defect (a defect in the home that is not discoverable through an inspection and may make the home dangerous to live in or even inhabitable).

Buyers can decide whether or not they want to buy the property. And sellers will be able to protect themselves from getting sued by the buyers if something is found to be terribly wrong after the sale is complete.

Your agent will guide you through the process of reviewing and understanding the seller’s disclosure so you can make the best decision for your real estate needs. If you have any questions about this process, don't hesitate to reach out!

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

BC Prime Real Estate Group

604-442-9422

anna@bcprimerealty.com

Keller Williams Elite Realty, Port Coquitlam, B.C.



Read
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.