Bits and Pieces • 5 June 2024

What Do Slower Sales and Rising Listings Mean for Metro Vancouver’s Real Estate Market?

by Gavin Lam

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

Update • 19 April 2024

Welcome! Let’s take this real estate journey together

by Gavin Lam

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

Announcement • 19 April 2024

Quick introduction.

by Gavin Lam

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.

CENTURY 21 In Town Realty

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