vancouver region DETACHED - JANUARY 2 0 2 4
SALES TO LISTINGS RATIO 14% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 9% VS 2023
▲ 9% VS 2023
▲ 16% VS 2023
▲ 43% VS 2023
There were 5,258 detached listings in the Vancouver Region in January, 7% below December and 16% higher than January 2023. January detached home sales increased by 9% month-over-month, to 732, and were 43% above January 2023. The sales-to-listing ratio for detached in the Vancouver Region, at 14%, reflected a balanced market.
THIS MONTH No. $1,834,076 $1,580,000 14% 732 5,258
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,679,165 $1,450,000 11% 511 4,519
23% 43% 16%
$1,785,630 $1,501,000 12% 670 5,653
3% 5% 17% 9% -7%
The detached median price in January was $1,580,000, a 5% increase from December and 9% above January 2023.
The average sold price was $1,834,076, 3% above last month and up 9% to January 2023.
9% 9%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
7,592
6,965
6,915
7,669
6,703
6,058
7,047
1.79
1.76
1.69
4,779
5,258
5,653
5,175
4,519
4,969
1.43
1.41
1.33
1,683
1,605
1,320
1,037
943
832
670
1,387
732
1,124
511
928
834
$1.70M $1.60M
$1.65M $1.71M $1.68M $1.65M $1.67M $1.69M
$1.50M $1.58M
$1.45M $1.55M $1.56M
23-Jan
23-Dec
24-Jan
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
1600
1400
1200
1000
800
600
38%
26%
26%
400
18%
14%
13%
13%
200
7%
4%
0
<$600K
$600-799K
$800-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M
$3M+ 1,515 60 4%
S-L RATIO SALES INVENTORY
116 16 14%
70 9 13%
164 42 26%
273 104 38%
569 146 26%
1,183 216 18%
746 94 13%
622 45 7%
Copyright © 2024 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of February 7, 2024. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
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