In January sales were down 43% compared to the 10 year average. There’s also fewer listings on the market with 21% fewer compared to last year. However, it’s important to note that inventory remains low in Metro Vancouver. This is reflected in the sales to active listing ratio which stands at 14% for all homes in January 2023. Prices seem to be stabilizing a bit more, certainty for both buyers and sellers. What does the future hold for the Vancouver Real Estate market? It’s going to be heavily dependent on the Bank of Canada’s monetary policy. If interest rates can stabilize, then we may see a fairly busy spring season.
