Greater Vancouver Area

In June 2024, the average home price in Greater Vancouver reached $1,349,985, marking a 6.2% increase year-over-year and a 0.4% rise from the previous month. Breaking it down by property types, the average sale price for detached houses was $2,343,282, for attached houses $1,271,988, and for apartments $820,069. Compared to May 2024, these figures represent changes of 5.3%, 1.5%, and -1.4% respectively. Annually, these prices reflect increases of 9.2%, 3.4%, and 0.6%.

The benchmark price for homes in Metro Vancouver stood at $1,207,100 in June 2024, showing a slight 0.4% decrease from the previous month but a 0.5% increase year-over-year. For detached houses, the benchmark price reached $2,061,000, exhibiting a 3.7% annual increase but experiencing a minor 0.1% decline from May 2024. Attached homes had a benchmark price of $1,138,100, with a 3% growth annually but a 0.6% decrease monthly. Apartment benchmark prices rose by 1% year-over-year but fell by 0.4% from May, settling at $773,400 in June 2024.

Vancouver's real estate market remained vibrant in June 2024, with a total of 2,418 homes sold. This total included 694 detached homes, 1,245 apartments, and 456 attached homes, reflecting a high level of market activity.

Furthermore, the number of active listings in Metro Vancouver surged to 14,182 by the end of June 2024, representing a 42% increase from the previous year and a 4.3% rise from the previous month. This substantial number of active listings significantly surpasses the long-term average for this period and reaches a multi-year high.

These figures highlight a dynamic and thriving housing market in Greater Vancouver, characterized by robust sales activity and increasing inventory levels. The rising average and benchmark prices across different property types indicate ongoing demand, while the significant increase in active listings suggests a more balanced market, offering a variety of options for buyers and investors. The market's resilience and adaptability underscore its attractiveness as a prime investment landscape.