GREATER VANCOUVER SALES - Last month, the Real Estate Board of Greater Vancouver (REBGV) reports a total of 3,022 residential property sales within the Metro Vancouver area (7.1% increase compared to September 2017). The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,042,300. This is a 12.4% increase over October 2016 and a 0.5% increase compared to September 2017.
"Conditions continue to vary significantly based on property type. The detached home market is well supplied with homes for sale, which is relieving pressure on prices," Jill Oudil, REBGV president said. "It remains a much different story in the townhouse and apartment markets. Buyers of these properties continue to have limited supply to choose from and are seeing upward pressure on prices."
Below you will find a comparative chart that depicts the Greater Vancouver residential sales from 2015 to present.
BC SALES - The British Columbia Real Estate Association (BCREA) reports a total of 8,677 residential property sales within BC (4.04% increase compared to September 2017). Total sales dollar volume was $6.25 billion, up 41.6 per cent from October 2016. The average MLS® residential price in the province was $720,129, up 18.7 per cent from October 2016.
"BC home sales trended higher in October, up 23 per cent from January on a seasonally adjusted basis," said Cameron Muir, BCREA Chief Economist. "A lack of supply in the resale market continues to put upward pressure on home prices in most BC regions."
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