Rising Sales and Stable Prices Amid Interest Rate Drops.
In October, home sales in Greater Vancouver surged across all asset classes, reflecting a dynamic shift in the market. A total of 2,624 properties went under contract, a remarkable 42 per cent increase from the previous month and a 37 per cent year-over year rise. Despite this upswing in sales volume, home prices remained relatively stable, with the average sale price at $1,248,926, essentially unchanged from the previous month. Active listings in the region saw a slight 3 percent dip to 13,944, including 5,446 newly listed properties. This influx suggests that sellers anticipate increased buyer activity spurred by a more favourable interest rate environment.