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Vancouver Detached Homes Market Update: Prices Drop, Buyer’s Market Emerges | October 2024

Vancouver Detached Homes Market Update | October 2024 Metro Vancouver’s detached homes market is seeing shifts as sales drop 10% year over year and benchmark prices hover just over $2 million. Prices have started to decline month over month by 1.3%, indicating downward pressure in the market. We’re currently in a buyer’s market territory with a sales-to-listings ratio at 12%. Though year-over-year gains are still showing, the monthly decreases reveal a cooling market. In this update, I dive into the latest data for townhomes and condos as well, where we’re seeing similar trends. Townhome sales are up 7.5% year over year, but prices are declining month over month. For condos, both sales and prices are down year over year, and we’re seeing some notable market shifts. If you're considering buying or selling or want to discuss the impact of these changes on your specific market segment, reach out to me directly for personalized advice. Make sure to like, subscribe, and sign up for my newsletter for the latest updates on Vancouver’s real estate market. Christine Kopr Sotheby’s Realty 📲(604) 992-1831 📩 [email protected] www.christinekopr.com Signup for my Video Newsletter today 🔗 https://bit.ly/Newsletter_SignUp_YT ________________________________Channel Info________________________________ Explore market data, property videos, and the key trends impacting Vancouver Real Estate. This YouTube channel is to help make your vision of buying, selling, and investing in real estate a reality, whether you’re taking a step towards a new lifestyle or seeking your next investment property. We believe that you deserve the best experience and creating the best experience starts with understanding you, your goals, and empowering you with the information and advice you need to make the best decisions. Please subscribe, thumbs-up when you like what you see, and click on that bell to be notified immediately when there’s a new video. _____________________________Helpful Resources_____________________________ Free Access to Sold Prices: https://www.fisherly.com/christinekopr Sellers Guide: https://sothebysrealty.ca/en/real-est... Home Evaluation: https://sothebysrealty.ca/en/christin... Buyers Guide: https://sothebysrealty.ca/en/real-est... Testimonials: https://sothebysrealty.ca/en/christin... _____________________________Follow Me Here_____________________________ Facebook:   / christinekoprrealtor   Instagram:   / christinekopr_vancouverrealtor   LinkedIn:   / christine-kopr-852b361b   #VancouverRealEstate #RealEstateMarketUpdate #October2024