INFOGRAPHICS: December 2024 GVR Greater Vancouver Market Reports

Home sales register a strong finish to cap off 2024

Home sales registered on the Multiple Listing Service® (MLS®) in Metro Vancouver1 rose over thirty per cent in December, compared to the previous year, signalling strengthening demand-side momentum to close out 2024.

The Greater Vancouver REALTORS® (GVR)2 reports that residential sales in the region totalled 26,561 in 2024, a 1.2 per cent increase from the 26,249 sales recorded in 2023, and a 9.2 per cent decrease from the 29,261 sales in 2022.

Last year’s sales total was 20.9 per cent below the 10-year annual sales average (33,559).

“Looking back on 2024, it could best be described as a pivot year for the market after experiencing such dramatic increases in mortgage rates in the preceding years. With borrowing costs now firmly on the decline, buyers have started to show up in numbers after somewhat of a hiatus – and this renewed strength is now clearly visible in the more recent monthly data.” Andrew Lis, GVR director of economics and data analytics

Read the full report on the REBGV website!

The following data is a comparison between December 2024 and December 2023 numbers, and is current as of January of 2025. For last month’s update, you can check out our previous post!

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These infographics cover current trends in several areas within the Greater Vancouver region. Click on the images for a larger view!