This is your Real Estate Market update by Coquitlam Realtor® Krista Lapp for sales in November 2022 for Greater Vancouver. Cites included in Greater Vancouver are: Coquitlam, Port Moody, Port Coquitlam, New Westminster, Burnaby, Pitt Meadows and Maple Ridge.
During the month of November, 24 percent of properties sold, which means it’s a Sellers Market. Total sales for November 2022 were 590, which is 53 percent less from last year, and a 16 percent decrease from the previous month. The Median Sales Price for a home in Greater Vancouver was $1,070,000, which is a 5 percent decrease from last year, and no change from the previous month.
The total active listings last month was 2,433, which is a 51 percent increase from last year, and a 7 percent decrease from the previous month.
For detached homes throughout Greater Vancouver, it took on average 15 days to sell, which is down 1 day from the previous month.
For attached properties which includes condos, townhomes and duplexes, it took 14 days to sell which is no change from the previous month.
With continued high interest rates and the holiday season approaching, it will be interesting to see what transpires during the month of December with inventory and buyer activity.
Bill 44 was also just amended which removed rental restrictions from strata properties as well as eliminated age restrictions for all ages with the exception of 55 plus. With these changes, this may open up new opportunities and options for homeowners who are looking to make a move as well as increased opportunities for investors with more inventory and selection now available to them. More detailed information about the market stats and Bill 44 can be viewed in the links below. If you have any questions about the market and Real Estate, feel free to reach out to me directly.
Krista Lapp is a Licensed REALTOR® based in Coquitlam and living in Burke Mountain.
Creating valuable relationships and happy clients has always been at the heart of Krista’s beliefs. With over 20 years of sales experience and being a successful entrepreneur, her level of professionalism, customer service, sales & marketing and integrity always result in exceptional client satisfaction.
With 106 sales in 2021, Krista qualified as a President’s Medallion Club Member which recognizes the Top 1% of Real Estate Agents for sales out of over 14,000 in Greater Vancouver. She is also in the Top 1% for sales at her brokerage Keller Williams Elite Realty, and in 2022 for Team Category, her team is #1 for dollar volume of sales in all of Canada with Keller Williams as of October 31, 2022 with over $97,000,000 in closed Sales Volume YTD.
Krista has been rated the #1 Coquitlam Realtor in 2019/2020/2021, as well as one of the Top 100 Real Estate Agents in Canada for 2021. RATE MY AGENT
Krista provides Real Estate services in Coquitlam, Port Coquitlam, Port Moody, Pitt Meadows, Maple Ridge, Langley and the Greater Vancouver area.