Under Market Stats, Real Estate Market Update

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Written on June 5th, 2023

The May 2023 Stats are in!

This May has shown sale prices increasing for a sixth consecutive month.

While spring is historically a busy time of year for real estate, this year there are a few additional factors in play.

Sustained low volume of new listings and renewed optimism in the market are largely driving the continuing price growth. These effects can both be seen via the recent reemergence of multiple offer situations.

With the potential for another Bank of Canada interest rate increase this week, whether prices will continue to grow at this pace is yet to be determined.

This past month at Ballard360, we have been working with clients throughout the Lower Mainland, Squamish, and Vancouver Island, to continually find good value while navigating the warming market.

Have any questions or want to discuss anything real estate?

Give us a call!

Source: The Real Estate Board of Greater Vancouver