Vancouver home sales surged in November, with an increase in new listings helping to maintain price stability.

Home sales in Vancouver saw a nice boost in November, thanks to a jump in new listings that helped keep prices steady, according to the local real estate board.

The composite benchmark price for November was $1,172,100, which is slightly down by 0.9% compared to last year and basically the same as October.

Real estate agents in Greater Vancouver reported a 28.1% increase in the number of homes sold compared to November 2023. With a more balanced market, many buyers took advantage of the opportunity. In total, there were 2,181 sales in November, which, while still 12.8% below the 10-year average, is an improvement over the 1,702 sales from the same month last year.

There were also 3,725 new listings in November, a 10.6% increase from 2023 and 5.4% above the seasonal average for the past decade. Overall, the number of active listings in the region reached 13,245, up by 21.2% from last year.

While prices remained stable last month, if the supply of homes doesn’t keep up with rising demand, buyers could face higher prices in 2025. For now, though, the market seems to be holding steady.