Newsletter







         

         JUNE 2024 

Welcome to the Greater Vancouver Real Estate Newsletter, June Edition!

Whether you’re a seasoned investor, a first-time buyer, or simply keeping an eye on the market, we’re here to provide you with the latest insights, trends, and opportunities in our vibrant real estate landscape. Dive into our curated selection of articles, market analyses, and community highlights. Let’s get on this journey together to find your Dream-Home in beautiful Greater Vancouver!

Metro Vancouver home sales down in May while inventory continues to increase

VANCOUVER, BC – June 4, 2024– The number of transactions on the Multiple Listing Service® (MLS®) declined in May compared to what is typical for this time of year in Metro Vancouver1 . This shift has allowed the inventory of homes available for sale to continue to accumulate with over 13,000 homes now actively listed on the MLS® in the region. The Greater Vancouver REALTORS® (GVR)2 reports that residential sales in the region totalled 2,733 in May 2024, a 19.9 per cent decrease from the 3,411 sales recorded in May 2023. Last month’s sales total was also down 19.6 per cent from the 10-year seasonal average for May (3,398). “The surprise in the May data is that sales have come in softer than what we’d typically expect to see at this point in the year, while the number of newly listed homes for sale is carrying some of the momentum seen in the April data,” Andrew Lis, GVR’s director of economics and data analytics said. “It’s a natural inclination to chalk these trends up to one factor or another, but what we’re seeing is a culmination of factors influencing buyer and seller decisions in the market right now. It’s everything from higher borrowing costs, to worries about the economy, to policy interventions imposed by various levels of government.”

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REBGV Housing Market Updates






Metro Vancouver Market Highlights


Property taxes 101

Property taxes due first week of July

Homeowners and businesses received their annual property tax notice in June. Property taxes are due the first or second business day in July, depending on the municipality...



Tenants may qualify for free portable air conditioners

BC Hydro is encouraging low-income and vulnerable customers to get prepared for the summer heat now by applying for a free AC at bchydro.com/freeAC  ...



Who’s listing? Is everyone listing their home for sale?

By Andrew Lis, GVR Director Economics and Data Analytics

Walking my dog around my neighborhood, I feel like I’ve been noticing a lot more properties coming to market. Or stated ...



 Market Insights







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Morteza Neeki - Personal Real Estate Corporation

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Phone: (778) 379-7888

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Team 3000 Realty

#305 9940 Lougheed Hwy  Burnaby,  BC  V3J 1N3 

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