March 2023 Monthly Market Update & February Statistics



How's the Market?

Below average home sales allow inventory to inch upwards.

February listing data show a continued reluctance among prospective home sellers to engage in Metro Vancouver’s housing market, leading to below-average sales activity. With sales remaining well-below historical norms, the number of available homes for sale in the region have continued inching upwards. 

These are all points you can find on your local new. In this month's video, we dive into the actual Real Estate Board of Greater Vancouver's market update video and fill in the blanks so you know what's happening now, not just last month.

Let's dive in! Click below.







Abbotsford

Bowen Island

Burnaby East

Burnaby North

Burnaby South

Cloverdale

Coquitlam

Greater Victoria

Gulf Islands

Kelowna

Ladner

Langley

Maple Ridge


Mission

Nanaimo

New Westminster

North Delta

North Okanagan

North Surrey

North Vancouver

Parksville / Qualicum

Pitt Meadows

Port Coquitlam

Port Moody

Richmond

Saanich Peninsula


South Okanagan

South Surrey/
White Rock

Squamish

Sunshine Coast

Surrey - Central

Tsawwassen

Vancouver - East

Vancouver - West

Vancouver Island

Victoria Core

Westshore

West Vancouver

Whistler


BC Real Estate News


BRITISH COLUMBIA

Here's how much the cost of owning a home in BC has fallen since last year (DailyHive)

New housing starts in B.C. to decline despite record spending (Vancouver Sun)

Canadian commercial real estate investment could reach high of $59 billion in 2023: CBRE (Financial Post)

LOWER MAINLAND

Vancouver leads nation in office completions, lowest vacancy rate (BIV)

Home sales in Vancouver area up 77% from January, but lag behind last year's numbers: real estate board (CBC)

VICTORIA & VANCOUVER ISLAND

Greater Victoria real estate market limps into 2023 (Times Colonist)