Vancouver Real Estate, Market Summary - January 2023
January 2023
Key Statistics & Summary Link
AVERAGE HOME PRICE INDEX: $1,111,400
MEDIAN DAYS ON MARKET: 30
SALES-TO-ACTIVE RATIO: 14% (BALANCED Market)
“Due to seasonality, market activity is quieter in January. With mortgage rates having risen so rapidly over the last year, we anticipated sales this month would be among the lowest in recent history. Looking forward, however, the Bank of Canada has said that it will pause further rate increases as long as the incoming economic data continues to support this policy stance. This should provide more certainty for home buyers and sellers in the market.”