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So things turned a little positive in 2024.
As I've been talking about in recent months, the winter is usually the slowest period in Vancouver's real estate market. We typically see the lowest amount of activity mid-November through to the end of January.
However, THIS past January bucked that trend a little. What's normally our slowest month of the year actually saw a jump in activity not just in comparison to December 2023 (month to month) but also a very significant increase over January 2023 (year over year).
Sales rose to 412 (from 382). That's a +7.9% increase from last month and a whopping +31.6% increase over a year ago. Notably, it's still -16.4% below the 10-year average for the month of January.
New listings rose a whopping 236% over the month to 1,339. This was up +26.2% from a year ago. To put it into context this was up just +2.9% over the 10-year average.
And despite a big jump in new listings, active listings remained fairly stable. This number rose by just +0.8% to 2,897...
Enjoy our monthly newsletter filled with latest real estate news, tips, and facts. You can unsubscribe any time and we will not share your email address with others.