Sales ratio for detached houses falls to 12.6 per cent as benchmark price holds firm at north of $2 million
Month-over-month price gains seen earlier this year stalled in the Greater Vancouver housing market in September due to declining sales and an increase in inventory levels across the region.
There was a total of 5,446 residential properties newly listed for sale on the multiple listing service in Greater Vancouver in September 2023. This represents a 28.4 per cent increase compared to September 2022. The total number of homes currently listed for sale is 11,382, a 9.2 per cent increase compared to September 2022.
“The upward shift in new listings has allowed overall inventory levels to recover modestly from the low levels we saw earlier this year,” Lis said. “When we pair this dynamic with the slowdown in sales … the outcome is more balanced market conditions overall.”
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