{"id":22684,"date":"2023-09-25T10:10:00","date_gmt":"2023-09-25T17:10:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=22684"},"modified":"2023-09-20T11:05:03","modified_gmt":"2023-09-20T18:05:03","slug":"greater-vancouver-listings-are-increasing-as-sales-are-slowing","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2023\/09\/greater-vancouver-listings-are-increasing-as-sales-are-slowing\/","title":{"rendered":"Greater Vancouver Listings are Increasing as Sales are Slowing"},"content":{"rendered":"<p style=\"text-align: justify;\">Mid-month September data from the Real Estate Board of Greater Vancouver (REBGV) shows an anticipated surge in listings of homes for sale is being seen this month. This, combined with a drop in sales compared to previous months, points to a potential shift in the market to a buyer\u2019s advantage, agents say.<\/p>\n<p style=\"text-align: justify;\">\u201cFor the first time in a while, opportunity is knocking for buyers,\u201d said Kevin Skipworth, managing partner of Dexter Realty, Vancouver.<\/p>\n<p style=\"text-align: justify;\">At mid-month there have been 2,982 new listings, which is higher than the 2,331 new listings at mid-August and the 2,741 new listings at the mid-point of July. It\u2019s also higher than September last year and above even the mid-point of busy September 2021, when 2,891 new listings had come out with much higher sales, at 1,477 transactions, REBGV\u2019s data shows.<\/p>\n<p style=\"text-align: justify;\">Meanwhile, housing sales as of September 15 of this year reached 896 sales, down from 1,198 sales at the mid-point of August and from 1,295 sales at the mid-point of July 2023, but up marginally from the 843 transactions in September 2022.<\/p>\n<p style=\"text-align: justify;\">Also, the sales-to-listings ratio was just 29% in mid-September compared to 51% at the mid-point a month earlier, and an average of 55% since January, the data shows.<\/p>\n<p style=\"text-align: justify;\">Skipworth said the result of more listings and slowing sales could result in 11,000 active listings this month, the highest level since June 2021.<\/p>\n<p style=\"text-align: justify;\">The City of Vancouver said it has 500 applications pending for new multiplex rezoning of single-family detached lots, which could signal an increase in both sales and listings of detached houses in the city.<\/p>\n<p style=\"text-align: justify;\">The composite benchmark home price in Greater Vancouver as of the end of August 2023 was $1,208,400, up $97,000 compared to January 2023. The increase in listings and a slowdown in sales could keep price increases in check this month, agents suggest.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/biv.com\/article\/2023\/09\/metro-vancouvers-early-september-housing-data-signals-market-shift\" target=\"_blank\" rel=\"noopener\">Metro Vancouver Early September Housing Data Signals Market Shift<\/a> by Frank O&#8217;Brien | Western Investor | BIV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mid-month September data from the Real Estate Board of Greater Vancouver (REBGV) shows an anticipated surge in listings of homes for sale is being seen this month. This, combined with &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2023\/09\/greater-vancouver-listings-are-increasing-as-sales-are-slowing\/\">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-22684","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Greater Vancouver Listings are Increasing as Sales are Slowing &#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\/09\/greater-vancouver-listings-are-increasing-as-sales-are-slowing\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Greater Vancouver Listings are Increasing as Sales are Slowing &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Mid-month September data from the Real Estate Board of Greater Vancouver (REBGV) shows an anticipated surge in listings of homes for sale is being seen this month. This, combined with &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\\\/2023\\\/09\\\/greater-vancouver-listings-are-increasing-as-sales-are-slowing\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/09\\\/greater-vancouver-listings-are-increasing-as-sales-are-slowing\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Greater Vancouver Listings are Increasing as Sales are Slowing\",\"datePublished\":\"2023-09-25T17:10:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/09\\\/greater-vancouver-listings-are-increasing-as-sales-are-slowing\\\/\"},\"wordCount\":309,\"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\\\/2023\\\/09\\\/greater-vancouver-listings-are-increasing-as-sales-are-slowing\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/09\\\/greater-vancouver-listings-are-increasing-as-sales-are-slowing\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/09\\\/greater-vancouver-listings-are-increasing-as-sales-are-slowing\\\/\",\"name\":\"Greater Vancouver Listings are Increasing as Sales are Slowing &#8226; 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