January was an active month in Vancouver real estate. With listings down around 14% (from December) in the GVRD overall, but people still wanting to purchase, sales are becoming quite competitive.
Ray Harris, REBGV president, said "While demand remains stead, we're seeing fewer homes for sale at the moment. This is creating greater competition amongst buyers, particularly in the detached home market. The number of detached homes listed for sale today is the second lowest we've seen in four years."
Looking specifically at Vancouver, the listings are still fairly healthy. Many owners wait until the new year to list their properties, so we see large bumps in the new listings on both the East and the West. Across the board, prices are up, but sales down from last month - this also is a typical pattern - many people like to wait until the spring to buy a new home. For more information see the graphic below!