Thanks for checking out my monthly real estate update for South Delta and the Real Estate Board of Greater Vancouver (REBGV).
Here is a link to the complete set of charts and graphs – it may be useful to refer to them as you read through this piece!
2023 – A ‘later developing year?’
There is a later seasonal peak to our market in 2023 compared to the 2 previous years as we felt the crest in late May compared to March in 2021 & 2022.
Metrics remain below the 10 year average sales 15.6% below and listings now only 14.4% below. This shows a bit of a ‘narrowing of the gap’ compared to recent previous months.
The sales and listings graphs below show listing levels had pretty much peaked and were beginning to decline in the previous 2 years but this year they appear to still be increasing.
It is interesting to reflect on 2023 being ‘seasonally 2 months later’ than previous 2 years:
- what has caused it?
- how will it affect the market for the rest of the year?
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