Cool October for Local Home Sales

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VANCOUVER (NEWS1130) – Vancouver home sales had their second-slowest October of the past 10 years last month, but prices kept rising.

The Real Estate Board of Greater Vancouver says sales on the MLS system were 2,317 last month; that’s one per cent lower than a year earlier. Listings were more than nine per cent higher.

The industry group’s adjusted average selling price for a home rose 7.5 per cent to $622,955, although it’s 1.3 per cent below the peak reached in June.

Detached houses out-sold apartment-style condos in October, with an 11 per cent price gain to $884,788. The unadjusted average price was $1,162,349.

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