February 2023 Greater Vancouver Real Estate Market UpdatePosted by Glenn and Brittany Real Estate on
The Greater Vancouver real estate market in February 2023 experienced a expected uptick, with sales and listing inventory both increasing compared to the previous month. However, sales are still significantly lower compared to the same period last year, which are attributed to various factors such as economic uncertainty and higher interest rates.
Sales were up 77% compared to January 2023 but down 47% compared to February of 2022. Listing inventory increased 5% compared to January 2023 and increased 16% compared to February 2022.
The fact that demand is currently outpacing new listings is leading to multiple offer situations but not like we experienced in recent history. We caution against assuming that the asking price is indicative of the actual…
95 Views, 0 Comments