Blog Layout
October Market Update - Dirks Real Estate
Mike Dirks • November 7, 2022
Home sale activity across the Metro Vancouver housing market continued to trend well below historical averages in October
Key Facts
- Metro Vancouver home sales are down 45.5 % from last October 2021, and up 12.8 % from last month
- New Listings are down 0.4 % from last October 2021 and down 4.6 per cent from last month.
- Sales-to-active listings ratio by property type is 14 % for detached homes, 21 % for townhomes, and 23 % for apartments.
- Detached home benchmark is $1,892,100. Thats up 1.6 % from last October 2021 and a down 0.7 % from last month.
- Condo benchmark is $727,100. That’s up 5.1 % from last October 2021 and down 0.2 per cent from last month.
- Townhome benchmark is $1,043,600. That’s up 7.1 per cent increase from October 2021 and down 0.5 % from last month.
Considerations
- We are heading into the winter months, which historically see less sales
- Sales volumes are now as low as 2008, post financial crisis. The only difference is we have half the listings compared to the market at that time.
- This is one of the contributing factors to why prices haven’t dropped further
- The Canadian Government announced new immigration targets of 485,000 new immigrants in 2024 and then 500,000 new immigrants in 2025. This influx of home buyers and renters will create demand that will hopefully help get the market back on it’s feet again.
Finding the best real estate deals in Vancouver can feel overwhelming, but with the help of an experienced Vancouver realtor, the process becomes much more manageable. A skilled realtor understands the local market intricacies, providing valuable insights that can save you time and money.
Finding the perfect home can be overwhelming, but real estate experts simplify the process with local market knowledge and guidance.
Vancouver, Canada’s sought-after city, boasts stunning landscapes, rich culture, and a vibrant real estate market.
The Vancouver real estate market is booming, with high demand driving prices and activity. Connect with a local expert today!
Stay informed with our October Market Update! Get the latest trends, insights, and data to make smart financial and real estate decisions.
Discover common age-related issues in condos & houses, from plumbing to structural wear. Learn how to maintain & upgrade your aging home today!
Mike Dirks – Your trusted Vancouver real estate agent. Expert guidance, market insights, and seamless transactions. Buy or sell with confidence!
Real estate agents role when helping a buyer is to always put their best interests first. They should focus on gathering information on specific areas.
Discover essential Vancouver real estate agent interview tips! Ask the right questions & find the best agent for your home-buying journey.
As Vancouver continues to grow, so does its public transit infrastructure. The expansion of the SkyTrain network and rapid bus routes has transformed the way people move around the city and its surrounding areas. But this expansion doesn’t just affect commuting times—it’s also having a significant impact on the real estate market. For buyers, sellers, and investors alike, understanding how public transit influences property values is key to making smart decisions in Vancouver’s ever-evolving housing market.
Ready to work with Dirks Real Estate?
Let's connect! We’re here to help.
Send us a message and we’ll be in touch.
Or give us a call today at 778-997-1890
Agency Contact Form
More Marketing Tips, Tricks & Tools
Real Estate Blog
Finding the best real estate deals in Vancouver can feel overwhelming, but with the help of an experienced Vancouver realtor, the process becomes much more manageable. A skilled realtor understands the local market intricacies, providing valuable insights that can save you time and money.
Finding the perfect home can be overwhelming, but real estate experts simplify the process with local market knowledge and guidance.
Vancouver, Canada’s sought-after city, boasts stunning landscapes, rich culture, and a vibrant real estate market.
The Vancouver real estate market is booming, with high demand driving prices and activity. Connect with a local expert today!
Stay informed with our October Market Update! Get the latest trends, insights, and data to make smart financial and real estate decisions.
Discover common age-related issues in condos & houses, from plumbing to structural wear. Learn how to maintain & upgrade your aging home today!
Mike Dirks – Your trusted Vancouver real estate agent. Expert guidance, market insights, and seamless transactions. Buy or sell with confidence!
Real estate agents role when helping a buyer is to always put their best interests first. They should focus on gathering information on specific areas.
Discover essential Vancouver real estate agent interview tips! Ask the right questions & find the best agent for your home-buying journey.
As Vancouver continues to grow, so does its public transit infrastructure. The expansion of the SkyTrain network and rapid bus routes has transformed the way people move around the city and its surrounding areas. But this expansion doesn’t just affect commuting times—it’s also having a significant impact on the real estate market. For buyers, sellers, and investors alike, understanding how public transit influences property values is key to making smart decisions in Vancouver’s ever-evolving housing market.
Things to do in Vancouver
Notable Neighborhoods
Bus Stop in Vancouver
Driving Direction to Mike Dirks Real Estate Agent
Location Map
Business Map
Connect with Mike Dirks Real Estate Agent
Looking for a trusted Vancouver Real Estate Agent to guide you through the dynamic property market? Connect with Mike Dirks, your dedicated real estate expert. Located at 2107 W 40th Ave #201, Vancouver, BC V6M 1W4, Mike brings a wealth of experience to ensure your real estate journey is seamless. Have questions or are ready to embark on your property adventure? Reach out via email at mikedirks@royallepage.ca or give him a call at 778-997-1890. Trust in Mike Dirks Real Estate Agent for unparalleled service and expertise in the Vancouver real estate landscape.
Let's achieve your goals!
The Dirks Family has been selling real estate for over fifty years and are respected leaders in their industry. They have earned the trust of hundreds of clients and are ready to work with you.
