This is your Real Estate Market update by Coquitlam REALTOR® Krista Lapp for sales in June, 2023 for Greater Vancouver.*
Cities included in Greater Vancouver are: Coquitlam, Port Moody, Port Coquitlam, New Westminster, Burnaby, Pitt Meadows, and Maple Ridge.
Last month we experienced another Seller’s market with 46% of properties selling. It was again a competitive environment with many Buyers and Sellers experiencing multiple offers. This was not the case however for all properties across the board. If a property did not sell, or did not receive much interest from Buyers, how that property was priced, or the desirability of the property, played a factor.
Total sales for June 2023 were 1,154. This is a 29% increase from last year, and a 9% decrease from the previous month. The median sales price for a home in Greater Vancouver was $1,180,000. This is a 7% increase from last year, and a 2% increase from the previous month.
The total active listings last month was 2,494. This is a 10% decrease from last year, and a 6% increase from the previous month.
For detached homes throughout Greater Vancouver, it took on average 8 days to sell. This is down one day from the previous month.
For attached properties, which includes condos, town homes, and duplexes, it took 8 days to sell. This is also down one day from the previous month.
As we approach summer, Real Estate sales and inventory tend to slow down. We are already seeing less listings come on the market. There is also a good mix now of how offers are being handled. Previous months it was quite consistent that offers were being reviewed on a specific date and time. Many Sellers now are considering looking at offers at any time. There is an interest rate announcement from the Bank of Canada on July 12th. It will be interesting to see what impact this will have on the Market, and Buyer and Seller behaviour
If you have any questions about your specific Real Estate needs, or would like to know more about the market and how it impacts you, feel free to reach out to me directly.
Krista Lapp PREC* 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 25 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 over 200 sales total from 2021-2022, Krista qualified as a President’s Medallion Club Member in 2021 and 2022 which recognizes the Top 1% of Real Estate Agents for sales out of over 14,000 in Greater Vancouver. In 2022, her team was #1 in ALL of Canada for dollar volume of sales with Keller Williams for Team Category, with over $118,000,000 in closed Sales Volume.
Born in Vancouver and raised in the Tri-Cities, Krista has experienced growing up and living in the Tri-Cities for decades. Krista knows Port Moody, Coquitlam and Port Coquitlam extensively and has loved seeing the changes and growth in these cities over the years.
Whether you are buying or selling, you can count on being represented with professionalism and integrity. Being a hands on, full time REALTOR® you’ll experience first class service, expert advice and outstanding results. In addition, Krista has had years of professional experience and education in marketing online giving her a unique perspective in marketing homes in Coquitlam, Port Coquitlam, Port Moody, Burnaby, Pitt Meadows, Maple Ridge, New Westminster and the Lower Mainland.
Krista has been rated the #1 Coquitlam Real Estate Agent in 2019-2022, #1 Port Coquitlam Real Estate Agent in 2022, as well as in the Top 100 Real Estate Agents in Canada for 2021 and 2022. RATE MY AGENT