VANCOUVER REGION THE RENNIE ADVANCE sales
highlights • The Vancouver Region tallied only 2,107 MLS sales in December 2023, the 7th consecutive month of declining sales counts in the metro area. This was the third-lowest December sales count in the past ten years, and was 35% below the past-decade December average. • Notably, the November-to-December sales drop of 17% was in line with typical seasonality (with the past-decade month-over-month decline in sales at the end of the year also equalling 17%). Detached home and condo sales both fell by 21%, while townhome sales were down 19%. • For the full year 2023, there were 40,036 MLS sales in the Vancouver Region, 8% fewer than in 2022 and 22% below the past-decade average of 51,547.
DECEMBER 2023
1,000 1,500 2,000 2,500 3,000 3,500 4,000
+ 7% vs Dec 2022
1,262 10 yr Dec Avg
DETACHED sales
0 500
2023 673
- 47% vs 10yr Dec Avg
2014
2015
2016
2017
2018
2019
2020
2021
2022
﹍ 10 yr December Average
● December
1,000 1,200 1,400 1,600
+ 8% vs Dec 2022
0 200 400 600 800
590 10 yr Dec Avg
TOWNHOME sales
366
- 38% vs 10yr Dec Avg
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
﹍ 10 yr December Average
● December
3,500
+ 8% vs Dec 2022
3,000
2,500
2,000
1,314 10 yr Dec Avg
1,500
1,000
CONDO sales
1,000
0 500
- 24% vs 10yr Dec Avg
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
﹍ 10 yr December Average
● December
Copyright © January 2, 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 January 2, 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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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