SALES NUMBERS IN VANCOUVER 2024
Vancouver Year-End Sales Numbers Summary 2024
The Vancouver real estate market in 2024 exhibited modest growth, with both average and benchmark home prices experiencing slight annual increases.
The average home price in Greater Vancouver reached $1,275,672 in December 2024, marking a 2.5% year-over-year rise. Similarly, the benchmark price for homes in Metro Vancouver was $1,171,500, reflecting a 0.4% increase from the previous year.
In December 2024, the market's sales-to-active listings ratio stood at 16.9%, slightly below the previous month's 17.1%. Notably, the sales-to-new listings ratio (SNLR) rose significantly to 105% in December, up from 59% in November, indicating a shift back to a seller's market. An SNLR above 60% typically suggests seller-favorable conditions.
For Vancouver realtors and listing agents, these developments suggest a cautiously optimistic outlook. The increase in both sales and listings points to a more active market offering opportunities for home sellers.
In December 2024, the market's sales-to-active listings ratio stood at 16.9%, slightly below the previous month's 17.1%. Notably, the sales-to-new listings ratio (SNLR) rose significantly to 105% in December, up from 59% in November, indicating a shift back to a seller's market. An SNLR above 60% typically suggests seller-favorable conditions.
For Vancouver realtors and listing agents, these developments suggest a cautiously optimistic outlook. The increase in both sales and listings points to a more active market offering opportunities for home sellers.