This is your Greater Vancouver Real Estate market update for sales in November 2024, by Krista Lapp, the #1 Selling REALTOR® in 2023 for both Coquitlam and the Tri Cities (Coquitlam, Port Moody, and Port Coquitlam) based on the total number of combined sales on MLS®.
Homebuyer demand continues to grow, fueled by relaxed mortgage rules and a recent interest rate cut of 50 basis points. Following the last rate reduction, the market saw a noticeable uptick in buyer activity.
Cities included in Greater Vancouver are: Coquitlam, Port Moody, Port Coquitlam, New Westminster, Burnaby, Pitt Meadows, and Maple Ridge.
Detached Homes:
For detached homes throughout Greater Vancouver, it took on average 29 days to sell. This is up 10 day from the previous month.
Attached Homes:
For attached properties, which includes condos, townhomes, and duplexes, it took 18 days to sell. This is up one day from the previous month.
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Last month, we experienced a pick up in buyer activity with many of our Client’s properties selling that had been on the market for many months.
As we approach the holidays, we are starting to see Sellers pull their listings and less new listings come on the market. Buyers that had sold in previous months and any that want to get a head of potential competitive environments will be looking at purchasing in December.
The next interest rate announcement from the Bank of Canada is on January 29, 2025.
If you would like to know how to navigate this market, whether you are buying or selling, please feel free to reach out to me directly.
*Source: SnapStats and GVR MLS®.
Krista Lapp
Lapp Real Estate Group
(604) 725-2494
Royal LePage Elite West, Coquitlam, B.C.
Click HERE to view over 500 sold properties on REW.ca
About Krista:
Krista Lapp PREC* is a Licensed REALTOR® based in Coquitlam and living in Burke Mountain.
In 2023, Krista was the #1 Selling REALTOR® for both Coquitlam and the Tri Cities (Coquitlam, Port Moody, and Port Coquitlam) based on the number of total combined sales on MLS®.
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 320 sales total from 2021-2023, Krista qualified as a President’s Medallion Club Member in 2021, 2022 and 2023 which recognizes the Top 1% of Real Estate Agents for sales out of over 14,000 in Greater Vancouver. In 2022 and 2023, her team was #1 in ALL of Canada for dollar volume of sales with Keller Williams for Team Category, with combined closed Sales Volume for the 2 years of over $244,000,000, and 239 closed sales.
Krista has been rated the #1 Coquitlam Real Estate Agent from 2019-2023, #1 Port Coquitlam Real Estate Agent in 2022 and 2023, #1 Port Moody Real Estate Agent in 2023, as well as in the Top 100 Real Estate Agents in Canada in 2021-2023.
Krista provides Real Estate services in Coquitlam, Port Coquitlam, Port Moody, Pitt Meadows, Maple Ridge, Langley & the Greater Vancouver area.