Metro Vancouver Real Estate Market Highlights – November 2024

• Sales Growth: Home sales rose 28.1% year-over-year to 2,181 units, driven by balanced market conditions.

• New Listings: 3,725 properties listed, a 10.6% increase year-over-year, with active listings up 21.2% to 13,245.

• Sales-to-Active Listings Ratio:

  • Overall: 17.1% (balanced market).

  • Detached: 12.7% (downward price pressure).

  • Attached: 23.1% and Apartments: 18.7% (near upward pressure). 

• Benchmark Prices:

  • Detached: $1,997,400 (↑ 1% YoY).

  • Apartments: $752,800 (↓ 1.2% YoY).

  • Townhouses: $1,117,600 (↑ 1.8% YoY).

• Market Outlook: Stable prices currently, but continued demand could push prices upward in 2024 if listings don't keep pace.