Monthly Market Update
Greater Vancouver January 2023
The market was slow in January due to seasonality and high mortgage rates, but it is moving towards regaining its equilibrium.
Speed of the Market - 14% Balanced Market
Supply and demand were about the same.
> Benchmark Price:
$1,189,936 in January 2022
$1,111,400 in January 2023
> Detached Home Highlights:
$1,981,628 in January 2022
$1,801,300 in January 2023
Benchmark price surrendered to last year's level by 9.1%
Townhouse Highlights:
$1,051,959 in January 2022
$1,020,407 in January2023
Benchmark prices went down by 3% compared to last year.
Apartment Highlights:
$728,716 in January 2022
$720,700 in January 2023
Benchmark prices went down by 1.1% compared to last year.
> Overall we're seeing a Buyer's Market
> We're expecting to see more listings as the year goes on. Most home sellers start planning in advance so, if you're planning to sell in 2023, I'd love to help.Reach out to get:- my Exclusive Selling Strategy Guide - checklist-your own Customized Strategic Plan- Staging advice specific to your property.
Greater Vancouver January 2023
The market was slow in January due to seasonality and high mortgage rates, but it is moving towards regaining its equilibrium.
Speed of the Market - 14% Balanced Market
Supply and demand were about the same.
> Benchmark Price:
$1,189,936 in January 2022
$1,111,400 in January 2023
> Detached Home Highlights:
$1,981,628 in January 2022
$1,801,300 in January 2023
Benchmark price surrendered to last year's level by 9.1%
Townhouse Highlights:
$1,051,959 in January 2022
$1,020,407 in January2023
Benchmark prices went down by 3% compared to last year.
Apartment Highlights:
$728,716 in January 2022
$720,700 in January 2023
Benchmark prices went down by 1.1% compared to last year.
> Overall we're seeing a Buyer's Market
> We're expecting to see more listings as the year goes on. Most home sellers start planning in advance so, if you're planning to sell in 2023, I'd love to help.Reach out to get:- my Exclusive Selling Strategy Guide - checklist-your own Customized Strategic Plan- Staging advice specific to your property.
Your realtor,
Ivona Sroka PREC
(604) 202-0679
Comments:
Post Your Comment: