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Vancouver housing sales soar 46 per cent

October 11, 2019

Metro Vancouver has started to shake off a two-year downturn, according to the Real Estate Board of Greater Vancouver (REBGV).
Housing sales in the region totalled 2,333 in September—up 46.3 per cent from September 2018 and 4.6 per cent from August 2019.
September sales were 1.7 per cent below the 10-year September sales average.
“We’re seeing more balanced housing market conditions over the last three months compared to what we saw at this time last year,” Ashley Smith, REBGV president, said. “Homebuyers are more willing to make offers today, particularly in the townhome and apartment markets.”
There were 4,866 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service (MLS) in Metro Vancouver in September. This total represents a 7.8 per cent decrease compared to September 2018 and a 29.9 per cent increase compared to August 2019.
The total number of homes currently listed for sale on the MLS  system in Metro Vancouver is 13,439, up 2.7 per cent from the same month in 2018.
The composite benchmark price for all residential homes in Metro Vancouver is currently $990,600. This price represents a 7.3 per cent decrease over September 2018 and a 0.3 per cent decrease compared to August 2019.
Sales of detached homes in September 2019 reached 745—up 46.7  per cent from September 2018. The benchmark price for a detached home is $1,406,200—down 8.6 per cent from September 2018 but virtually unchanged from August 2019.
Sales of apartment homes  were up 43.6 per cent from a year earlier and the benchmark price of an apartment property  is $651,500. This amount represents a 6.5 per cent decrease from September 2018 and a 0.4 per cent decrease compared to August 2019.


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