{"id":20857,"date":"2022-11-08T10:10:00","date_gmt":"2022-11-08T18:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=20857"},"modified":"2022-11-07T09:33:19","modified_gmt":"2022-11-07T17:33:19","slug":"metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2022\/11\/metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m\/","title":{"rendered":"Metro Vancouver Home Sales Dip Below Historical Averages, Home Prices Rose Across All Property Types M\/M"},"content":{"rendered":"<p style=\"text-align: justify;\">Only 1,903 residential homes were sold in the metro Vancouver area in October 2022, reports the Real Estate Board of Greater Vancouver (REBGV).<\/p>\n<p style=\"text-align: justify;\">That\u2019s a whopping 45.5% decrease from the 3,494 sales recorded in 2021, and a 12.8% increase from the 1,687 homes sold in September 2022.<\/p>\n<p style=\"text-align: justify;\">Home sales across all property types were hit hard last month, with detached homes, apartments and attached homes seeing sales declines of over 40%.<\/p>\n<p style=\"text-align: justify;\">Home prices rose across all property types as well. The average price of apartments, detached homes, and attached homes rose month-over month by 5.1%, 1.6%, and 7.1%, respectively.<\/p>\n<p style=\"text-align: justify;\">\u201cInflation and rising interest rates continue to dominate headlines, leading many buyers and sellers to assess how these factors impact their housing options,\u201d Andrew Lis, REBGV\u2019s director of economics and data analytics said. \u201cWith sales remaining near historic lows, the number of active listings continues to inch upward, causing home prices to recede from the record highs set in the spring of 2022.\u201d<\/p>\n<p style=\"text-align: justify;\">There were 4,033 detached, attached and apartment properties newly listed for sale on the Multiple Listings Service\u00ae (MLS\u00ae) in Metro Vancouver in October 2022 \u2013 4.6% less than in September, and 0.4% less than in October 2021.<\/p>\n<p style=\"text-align: justify;\">While new home listings have gone down, the supply of housing in Metro Vancouver is trending upward month-over-month \u2013 meaning homes are staying on the market longer. Right now, there are a total of 9,852 homes currently listed for sale on the MLS\u00ae service in Metro Vancouver.<\/p>\n<p style=\"text-align: justify;\">\u201cRecent years have been characterized by a frenetic pace of sales amplified by scarce listings on the market to choose from. Today\u2019s market cycle is a marked departure, with a slower pace of sales and more selection to choose from,\u201d Lis said. \u201cThis environment provides buyers and sellers more time to conduct home inspections, strata minute reviews, and other due diligence. With the possibly of yet another rate hike by the Bank of Canada this December, it has become even more important to secure financing as early in the process as possible.\u201d<\/p>\n<p style=\"text-align: justify;\">For all property types, the sales-to-active listings ratio for October 2022 is 19.3%.<\/p>\n<p style=\"text-align: justify;\">Analysts generally agree that home prices drop when the ratio dips below 12% for a sustained period. On the flip side, home prices tend to increase when it surpasses 20% for several months.<\/p>\n<p style=\"text-align: justify;\">The average price for all residential properties in Metro Vancouver currently sits at $1,148,900.<\/p>\n<p><a href=\"https:\/\/www.livabl.com\/2022\/11\/home-sales-metro-vancouver.html\" target=\"_blank\" rel=\"noopener\">Home Sales Across Metro Vancouver Dip Way Below Historical Average<\/a> by Cassie Apperloo | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Only 1,903 residential homes were sold in the metro Vancouver area in October 2022, reports the Real Estate Board of Greater Vancouver (REBGV). That\u2019s a whopping 45.5% decrease from the &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2022\/11\/metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-20857","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Metro Vancouver Home Sales Dip Below Historical Averages, Home Prices Rose Across All Property Types M\/M &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2022\/11\/metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Metro Vancouver Home Sales Dip Below Historical Averages, Home Prices Rose Across All Property Types M\/M &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Only 1,903 residential homes were sold in the metro Vancouver area in October 2022, reports the Real Estate Board of Greater Vancouver (REBGV). That\u2019s a whopping 45.5% decrease from the &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/11\\\/metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/11\\\/metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Metro Vancouver Home Sales Dip Below Historical Averages, Home Prices Rose Across All Property Types M\\\/M\",\"datePublished\":\"2022-11-08T18:10:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/11\\\/metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m\\\/\"},\"wordCount\":406,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/11\\\/metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/11\\\/metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/11\\\/metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m\\\/\",\"name\":\"Metro Vancouver Home Sales Dip Below Historical Averages, Home Prices Rose Across All Property Types M\\\/M &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2022-11-08T18:10:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/11\\\/metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/11\\\/metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/11\\\/metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Metro Vancouver Home Sales Dip Below Historical Averages, Home Prices Rose Across All Property Types M\\\/M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling &amp; Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Metro Vancouver Home Sales Dip Below Historical Averages, Home Prices Rose Across All Property Types M\/M &#8226; Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2022\/11\/metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m\/","twitter_card":"summary_large_image","twitter_title":"Metro Vancouver Home Sales Dip Below Historical Averages, Home Prices Rose Across All Property Types M\/M &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"Only 1,903 residential homes were sold in the metro Vancouver area in October 2022, reports the Real Estate Board of Greater Vancouver (REBGV). That\u2019s a whopping 45.5% decrease from the &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2022\/11\/metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2022\/11\/metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Metro Vancouver Home Sales Dip Below Historical Averages, Home Prices Rose Across All Property Types M\/M","datePublished":"2022-11-08T18:10:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2022\/11\/metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m\/"},"wordCount":406,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Market Updates"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2022\/11\/metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2022\/11\/metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m\/","url":"https:\/\/www.roryc.ca\/blog\/2022\/11\/metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m\/","name":"Metro Vancouver Home Sales Dip Below Historical Averages, Home Prices Rose Across All Property Types M\/M &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2022-11-08T18:10:00+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2022\/11\/metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2022\/11\/metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2022\/11\/metro-vancouver-home-sales-dip-below-historical-averages-home-prices-rose-across-all-property-types-m-m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Metro Vancouver Home Sales Dip Below Historical Averages, Home Prices Rose Across All Property Types M\/M"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling &amp; Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/20857","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=20857"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/20857\/revisions"}],"predecessor-version":[{"id":20858,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/20857\/revisions\/20858"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=20857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=20857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=20857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}