{"id":21372,"date":"2023-02-21T11:11:00","date_gmt":"2023-02-21T19:11:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=21372"},"modified":"2023-02-21T11:25:12","modified_gmt":"2023-02-21T19:25:12","slug":"vancouver-new-home-sales-activity-started-inching-back-up","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2023\/02\/vancouver-new-home-sales-activity-started-inching-back-up\/","title":{"rendered":"Vancouver New Home Sales Activity Started Inching Back Up"},"content":{"rendered":"<p style=\"text-align: justify;\">Despite hitting a record-low in Q3-2022, Vancouver\u2019s new home sales rate for the year was only 7% below the 10-year average.<\/p>\n<p style=\"text-align: justify;\">A total of 14,447 new home sales were recorded in the Metro Vancouver area in 2022 \u2013 many of which took place in the fourth quarter, when sales activity started inching back up.<\/p>\n<p style=\"text-align: justify;\">Much of the sales activity in Q4-2022 came from concrete condominium launches that offered longer completion times and more incentives for buyers. Several project launches were able to attract investors that were previously on the sidelines.<\/p>\n<p style=\"text-align: justify;\">By the end of 2022, the average price for a concrete condominium project was $1,337,955 in Metro Vancouver, though prices outside of the metro varied by location. Concrete projects located north of the Fraser River averaged out at $1,085,782, while locations south of the Fraser had an average price of $1,961,825.<\/p>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"888\" height=\"405\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2023\/02\/livabl-projects.jpg\" alt=\"\" class=\"wp-image-21373\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2023\/02\/livabl-projects.jpg 888w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2023\/02\/livabl-projects-288x131.jpg 288w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2023\/02\/livabl-projects-768x350.jpg 768w\" sizes=\"auto, (max-width: 888px) 100vw, 888px\" \/><\/figure>\n<\/div>\n\n<p style=\"text-align: justify;\">By the end of 2022, the North of the Fraser region held 89% of the total standing inventory in Metro Vancouver.<\/p>\n<p><a href=\"https:\/\/www.livabl.com\/2023\/02\/vancouvers-housing-market-shows-signs-life.html\" target=\"_blank\" rel=\"noopener\">Vancouver&#8217;s Housing Market Shows Some Signs of Life Again in Q4-2022<\/a> by Cassie Apperloo | Livabl<\/p>","protected":false},"excerpt":{"rendered":"<p>Despite hitting a record-low in Q3-2022, Vancouver\u2019s new home sales rate for the year was only 7% below the 10-year average. A total of 14,447 new home sales were recorded &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2023\/02\/vancouver-new-home-sales-activity-started-inching-back-up\/\">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-21372","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Vancouver New Home Sales Activity Started Inching Back Up &#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\/2023\/02\/vancouver-new-home-sales-activity-started-inching-back-up\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Vancouver New Home Sales Activity Started Inching Back Up &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Despite hitting a record-low in Q3-2022, Vancouver\u2019s new home sales rate for the year was only 7% below the 10-year average. 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