Vancouver Downtown:
Balanced market for condos/townhomes with a 14% sales ratio. Best bets for sellers are in Westend and one-bedroom properties. Buyers should focus on homes over $5M in Coal Harbour and Downtown.

Vancouver Westside:
Balanced market for detached homes with a 13% sales ratio. Sellers thrive in Dunbar and Mackenzie Heights with 3-4 bedroom homes. Condos/townhomes are in a seller’s market with a 21% sales ratio. Fairview and Kitsilano are hot for sellers.

Vancouver Eastside:
Balanced market for detached homes at 13% sales ratio. Most active in the $1.25M-$1.5M range. Buyers should look in Collingwood and Renfrew Heights. Condos/townhomes have a 24% sales ratio, making it a seller’s market, especially in Fraser and Hastings.

North Vancouver:
Seller’s market for detached homes with a 25% sales ratio. Best selling in Dollarton and Edgemont with 3-6 bedroom properties. Attached properties are also in a seller’s market with a 32% sales ratio, hot areas include Lynn Valley and Roche Point.

West Vancouver:
Buyer’s market for detached homes with an 8% sales ratio. Sellers benefit in Dundarave and Eagle Harbour. Condos/townhomes are balanced at 18% sales ratio. Best for sellers in Ambleside and one-bedroom properties.

Richmond:
Balanced market for detached homes at 15% sales ratio. Best areas for sellers include Granville and Steveston South. Condos/townhomes show a 21% sales ratio, favoring sellers in Brighouse South and Steveston Village.

Tsawwassen:
Balanced market for detached homes at 18% sales ratio. Sellers thrive in Pebble Hill with 3-4 bedroom properties. Condos/townhomes are in a seller’s market with a 22% sales ratio. Best for sellers in Tsawwassen North and two-bedroom properties.

Ladner:
Balanced market for detached homes with a 16% sales ratio. Sellers should focus on Ladner Elementary with up to 4 bedroom homes. Condos/townhomes are in a seller’s market with a 29% sales ratio, especially in Hawthorne and two-bedroom properties.

Partner with me, an insightful realtor, to navigate these trends and turn your real estate dreams into reality. Let’s connect!

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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!

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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.

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!

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