September 2023 Metro Vancouver Entry-Level, Newer-Home                  Market Report

September 2023 Metro Vancouver Entry-Level, Newer-Home Market Report


Supply increased month-over-month in most markets across all home types.

Elevated interest rates are contributing to a quiet resale market. 

Buyers continue to monitor the market for good deals, but don't feel a sense of urgency. 

The one-bedroom condo market is still in a firm seller's market across most tracked neighbourhoods - the most affordable part of the market continues to see strong activity. 

The single-family and two-bedroom condo market in most tracked areas have either entered or are bordering a buyer's market - great time for people to be shopping these product types. 


Median Single-Family Sold Prices
Max lot size of
4,000 SF
1-15 years old 

*Max lot size 4,500 SF

Median Townhome Sold Prices
1,200-1,500 SF
1 to 10 years old

Median One-Bedroom Sold Prices
1-10 years old

Median Two-Bedroom Sold Prices
1-10 years old

Reasons why you should consider newer-home resale data:

  1. Great for those looking to purchase housing that is still in the early stages of its lifecycle – this means less repairs & maintenance during the first few years of ownership.

  2. More recent building and developer history – provides assurance and certainty when making one of the most important transactions of your life.

  3. Homes include some of the latest design and technology – great for resale value when considering to move-up the property ladder.

  4. Provides comparables for individuals considering a new pre-sale purchase for either end-use or investment. Comparing newer resale data to presale pricing provides valuable insight into the product being considered for purchase.
These monthly sales statistics also provide important information for any new housing being considered for development.
Investors, developers, and homebuilders can use newer resales as objective data points.
These figures are routinely used to understand the value of land, and anticipated market values for newly completed homes.
The entry-level, newer-home market report is a monthly take on the latest realtor-level sales statistics for all “newer-home” product types.
The mix of product types monitored include the “entry-level” forms of single-family & townhome product, along with one & two-bedroom condominiums.
The monthly statistics are based on several of the most popular areas in Metro Vancouver for first-time buyers, young professionals & fam

Work With Manraj

Whether you're new to the housing market, an investor, or a homeowner planning to switch properties, trust in Manraj's relational and data-based approach to provide you with the right knowledge for your next move.