VANCOUVER (NEWS1130) – Metro Vancouver home sales were strong in October, with an industry group saying 14.9 per cent more properties were sold than the same month a year earlier.
The total of 3,057 was 4.6 per cent higher than the previous month.
Figures from the Real Estate Board of Greater Vancouver show a hot market for detached houses. Even though they’re generally much more expensive that apartment-style condos, the two categories were almost tied last month as houses outsold apartments by just three units.
REBGV president Ray Harris says it’s “largely a function of supply and demand” because there are fewer houses than condos.
The group’s adjusted “benchmark” price for all properties was up six per cent to $637,000.
There was a drop of 14.7 per cent in new listings compared to September which posted a 33 per cent increase from August.