**February Market Highlights**

👉 Steady home sales activity

👉 Modest increases in home listings

👉 Continued upward trends in pricing

Residential home sales in the region totalled 3,424 in February 2022:

– 8.1% ⬇️ from February 2021

– 49.8% ⬆️ from January 2022

Despite having a higher volume of listings for sale in February, the housing market remains significantly undersupplied, which has been pushing home prices to new highs month after month.

The Sales-to-Active listings ratio for February is 50.8 per cent:

– 34.9 per cent for detached homes

– 64.3 per cent for townhomes

– 62.2 per cent for apartments

📝 Note: Downward pressure on home prices occurs when the ratio dips below 12 per cent, while home prices often experience upward pressure when it surpasses 20 per cent.

The benchmark price for all residential properties in Metro Vancouver is currently $1,313,400. This represents a 20.7 % ⬆️ over February 2021 and a 4.6 % ⬆️ compared to January 2022.

For more information in your area please contact:

Mick Lo

Licensed Realtor & Rental Property Manager

Direct 604.430.2986

Email: RealtorMickLo@gmail.com

#vancouverrealestate#realestatestats#realestate

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