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Greater Vancouver Real Estate Market – June 2024
Burnaby:
Detached homes are in a seller’s market with a 21% sales ratio. The most active price band is $1.5M-$1.75M. Buyers have the best options in Central Park and East Burnaby. Condos and townhomes are balanced with a 20% sales ratio. Sellers find the best opportunities in Central Park and Forest Hills.
New Westminster:
A balanced market for detached homes with a 16% sales ratio. Most activity in the $1.25M-$1.75M range. Buyers should explore Connaught Heights and Queensborough. Condos and townhomes show a stronger seller’s market with a 31% sales ratio, especially downtown and Sapperton.
Coquitlam:
Balanced for detached homes with a 15% sales ratio. Best selling in New Horizons and 3-4 bedroom homes. Attached properties are in a seller’s market with a 25% sales ratio, especially in Burke Mountain and New Horizons.
Port Coquitlam:
Detached homes are balanced with a 14% sales ratio. Citadel and Lincoln Park are hotspots for sellers. Attached homes have a 30% sales ratio, favoring sellers in Riverwood and 1-bedroom properties.
Port Moody:
A buyer’s market for detached homes with only a 4% sales ratio. Sellers should target College Park. Condos and townhomes are in a strong seller’s market with a 40% sales ratio, especially for 2-bedroom homes.
Pitt Meadows:
Seller’s market for detached homes with a 31% sales ratio, especially in South Meadows. Attached properties also favor sellers with a 33% sales ratio, best in Central Meadows.
Maple Ridge:
Balanced market for detached homes with a 16% sales ratio. Sellers benefit in Albion. Attached homes show a 17% sales ratio, balanced but leaning towards sellers in Cottonwood and Southwest.
As an experienced realtor, I can guide you through these market trends to achieve your real estate dreams. Ready to make your move? Let’s chat!
#RealEstate #Realtor #MarketTrends #VancouverRealEstate
Is Richmond’s Real Estate Market Thriving in 2024?
Richmond’s real estate market is showing strong signs of growth in Q1 2024. With a rise in home sales and property values, it’s clear that buyers and investors see Richmond as a prime location. The market’s resilience is driven by low-interest rates and a surge in demand for suburban living. As a Realtor, I’ve witnessed firsthand the competitive bidding wars and quick sales, highlighting the market’s vibrancy.
What does this mean for you? If you’re considering buying or selling, now is a great time to make a move. Richmond’s market conditions are favorable, offering opportunities for both buyers and sellers.
What Do Slower Sales and Rising Listings Mean for Metro Vancouver’s Real Estate Market?
Metro Vancouver’s home sales dipped in May, with inventory on the rise. The Greater Vancouver REALTORS® reported 2,733 residential sales, marking a 19.9% drop from May 2023. The number of new listings, however, grew by 12.6% year-over-year to 6,374, contributing to an overall inventory of 13,600 homes.
Higher borrowing costs, economic concerns, and government policies are shaping buyer and seller behaviors. With a sales-to-active listings ratio of 20.8%, the market is edging towards balanced conditions. The benchmark price for all residential properties now stands at $1,212,000, a modest increase from last year.
Will this summer provide better opportunities for buyers despite elevated borrowing costs? Share your thoughts in the comments!
#VancouverRealEstate #HousingMarket #RealEstateTrends #REALTOR
Welcome! Let’s take this real estate journey together
I’m so glad you’re here! While this blog area may be quiet, I’m excited to connect with you on social media.
You’ll find helpful tips, exciting listings, and open house announcements there.
My goal is to make your real estate investment a unique and enjoyable experience – even amidst the inevitable stress. Let’s make this a journey you’ll love!
For easy access, here are my social media links:
https://x.com/Glamhousing
https://www.instagram.com/gavin.cl.lam/
www.linkedin.com/in/gavin-chi-lun-lam-902b2b172
https://www.facebook.com/Gavin.cl.lam?mibextid=ZbWKwL
Feel free to reach out anytime. I’m here to help!
Truly yours,
Gavin
Quick introduction.
With almost two decades of aviation experience, I’ve combined my technical skills and excellent customer service to guide people through Greater Vancouver real estate. I’m fluent in English, Cantonese, and Mandarin, ensuring clear communication for all my clients. My approach is strategic, detail-oriented, and empathetic, so you have a stress-free experience.
As your committed advisor, I’m passionate about both finding your dream home and selling your property for top value. Based in Richmond, B.C., I stay on top of market trends to help you make informed decisions. Whether you’re buying or selling, my priority is your needs, transparency throughout the process, and minimizing stress.
My goal is simple: to build lasting relationships through honesty, integrity, and open communication.
Let’s discuss your real estate dreams – whether it’s finding the perfect home or maximizing your sale, I’m here to guide you every step of the way.
