Posted on
March 6, 2024
by
Anna Litvak
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 V
alley
Greater Va
ncouver
Metro Vanc
ouver
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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.
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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.