Vancouver Real Estate Market Update - September 2024

In September 2024, Vancouver’s real estate market continued to slow down, with fewer home sales and a significant increase in new listings, creating more options for buyers and putting pressure on sellers.

Fewer Homes Sold

There were 1,852 homes sold in September, down from 1,904 in August and 1,926 in September 2023. This represents a 2.7% drop from last month and a 3.8% drop from last year. Sales are also 26% below the 10-year average. Despite interest rate cuts, the market hasn’t shown any signs of recovery.

Increase in New Listings

The number of new listings surged, with 6,144 homes listed in September, nearly 50% more than the 4,109 in August. This increase is typical, as people often list homes after summer holidays and the start of the school year. This has pushed the total number of homes for sale to the highest level since June 2019.

Buyer’s Market Emerging

The Months of Inventory (MOI), which measures how long it would take to sell all listed homes, reached 8.05, placing the market firmly in buyer’s territory. Detached homes have an MOI of over 11 months, while townhouses sit at 5.93 and condos at 6.87. Townhouses remain balanced, but condos are moving toward a buyer’s market.

Prices Declining

Home prices are gradually dropping, with the Home Price Index showing a 1.4% decline from August, driven by oversupply and less demand.

Summary

Uncertainty about the market direction and ongoing rate cuts has left many people adopting a “wait and see” approach. If you’re considering selling, it’s recommended to ensure your property is in top-notch condition and priced fairly. For buyers, there are plenty of options and room for negotiation. Unless you can time the market perfectly, this is a favorable time for buyers.

If you are curious about how your area is performing, make sure to download the free market report below. If you have any questions, send me a DM to chat.

溫哥華房地產市場更新 - 2024年9月

2024年9月，溫哥華的房地產市場繼續放緩，房屋銷售量減少，新增上市房源顯著增加，為買家提供了更多選擇，並給賣家帶來壓力。

銷售量下降

9月共售出1,852套房屋，低於8月的1,904套和2023年9月的1,926套。這意味著相比上個月銷售量下降了2.7%，相比去年下降了3.8%。銷售量也比10年平均值低了26%。儘管利率有所下降，市場仍未顯現任何復甦跡象。

新增房源增多

9月新增6,144套房源，相比8月的4,109套，增加了將近50%。這種增長通常發生在暑假結束和開學季後，很多人選擇在此時出售房屋。這也將總上市房源推到了自2019年6月以來的最高水平。

買方市場出現

庫存月數（MOI），即出售所有上市房屋所需的時間，達到8.05個月，顯示市場已進入買方市場。獨立屋的MOI超過11個月，而聯排別墅為5.93個月，公寓為6.87個月。聯排別墅市場仍然平衡，但公寓市場正逐漸向買方市場轉變。

房價下跌

由於供應過剩和需求不足，房價逐步下跌。房價指數顯示，與8月相比，房價下降了1.4%。

總結

由於對市場走向的疑慮和利率的變動，許多人採取觀望態度。如果您正在考慮出售房屋，建議確保房屋處於最佳狀態，並定價合理。對於買家來說，目前有許多選擇和談判空間。除非您能精準掌握市場時機，否則現在對買家來說是一個有利的時機。

如果您想了解您所在地區的市場表現，請下載下面的免費市場報告。如果您有任何問題，歡迎跟我聯繫。