Home sales in Metro Vancouver declined 3.8% year-over-year in September 2024, with limited impact from lower borrowing costs.
Residential sales totaled 1,852 in September, 26% below the 10-year seasonal average, while new listings increased by 12.8%.
The total number of properties for sale rose by 31.2%, pushing the market towards a buyer’s market.
The sales-to-active listings ratio was 12.8%, indicating downward pressure on home prices as sales lag behind inventory.
Prices have shown modest declines across all segments; the MLS® composite benchmark price for all residential properties is $1,179,700, down 1.8% year-over-year.
Detached and apartment home sales dropped by 9.8% and 4.9%, respectively, while attached home sales increased by 7.4%.
