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
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.
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