Greater Vancouver Real Estate Market Statistics – May 2022

Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in May 2022. Find all the infographics by visiting the Facebook Album.

After reaching record-setting levels in 2021, home sale activity has returned to more typical seasonal levels in Metro Vancouver* this spring due, in large part, to rising interest rates.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,918 in May 2022, a 31.6 per cent decrease from the 4,268 sales recorded in May 2021, and a 9.7 per cent decrease from the 3,232 homes sold in April 2022.

Last month’s sales were 12.9 per cent below the 10-year May sales average.

“With interest rates rising, home buyers are taking more time to make their decisions in today’s housing market,” said Daniel John, REBGV Chair. “Home buyers have been operating in a frenzied environment for much of the past two years. This spring is providing a calmer environment, with fewer multiple offer situations, which is allowing buyers to explore their housing options, understand the changing mortgage market, and do their due diligence.”

*Areas covered by the Real Estate Board of Greater Vancouver include Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler. Check out the infographics of Squamish, Sunshine Coast and Whistler, HERE.

Bowen Island

Burnaby East

Burnaby North

Burnaby South

Ladner

Maple Ridge

New Westminster

North Vancouver

Pitt Meadows

Coquitlam

Port Coquitlam

Port Moody

Richmond

Tsawwassen

Vancouver East

Vancouver West

West Vancouver

Looking for more information about the real estate market in specific neighbourhoods in the Greater Vancouver?
Macdonald Realty has offices across the Greater Vancouver.  Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price
Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Real Estate Board of Greater Vancouver (REBGV) www.rebgv.org

Recent News

Lyndan Properties

Lyndan Properties is a real estate development and investment firm dedicated to creating properties that meet the highest standards of quality, design, and sustainability. Having served the Greater Vancouver area since 2013, Lyndan has experience with every aspect of the development process from property selection, design development, construction, and marketing.

Macdonald Platinum Marketing

The Macdonald Platinum Marketing team offers a range of project marketing services including real estate project marketing, sales strategy development, and market research, to help clients effectively promote and sell their properties.

Macdonald Property Management

Macdonald Property Management provide residential and commercial property management and currently manages over $6 billion in BC properties with offices in Vancouver, the Fraser Valley and Victoria.

Macdonald Commercial

Macdonald Commercial provides creative real estate solutions in the area of commercial sales and commercial leasing including: apartments, land, retail, office, industrial, shopping centres and other investments.  Macdonald Commercial has over 40 dedicated commercial brokers with a head office in Vancouver, and offices in the Fraser Valley and Victoria.  They are a proud member of CORFAC International, the premier network for independently owned commercial real estate firms.

Macdonald Realty

Carefully curated over the past 80 years, Macdonald Realty offers unparalleled industry expertise in every facet of real estate. From luxury, residential, commercial, project marketing, development and property management we have established a reputation built on knowledge and trust. Operating over 20 offices and 1,100+ agents, brokers and property managers in B.C., we are your best next move.