Hot November for Vancouver home sales
Posted December 2, 2015 10:59 am.
This article is more than 5 years old.
VANCOUVER (NEWS 1130) – People continue buying homes in Metro Vancouver at a furious rate. An industry group says last month was the second-highest November on record, with sales up 40.1 per cent to 3,524 on the Multiple Listing Service.
A lack of homes for sale is increasing pressure on the market, with the Real Estate Board of Greater Vancouver saying listings were down 35 per cent from a year earlier and 15.4 per cent from the previous month.
The board’s adjusted average sale price for all types of homes jumped 17.8 per cent from a year earlier to $752,500. Single-detached houses were up 22.6 per cent to $1.2 million while apartment-style condo prices were up 14 per cent to $435,000. But the actual, unadjusted price of a detached home in the region spiked $310,000 higher to $1.58 million, an increase of 24.4 per cent.
The board’s covers most of Metro Vancouver except Surrey.
