Metro Vancouver home sales surge 28% in November

Home buyer demand in Metro Vancouver saw significant growth in November, with sales increasing by 28% year-over-year, building on a 30% jump in October. The Greater Vancouver REALTORS® reported 2,181 residential sales, slightly below the 10-year seasonal average of 2,500.

A total of 3,725 new listings came to market, a 10.6% rise from last year. The current sales-to-active listings ratio stands at 17.1%, indicating a balanced market. While home prices remained steady in November, experts warn that if demand continues to outpace new listings, price pressures may rise in the coming months.

The MLS® Home Price Index benchmark for all residential properties is currently $1,172,100, nearly unchanged from October.