The Real Estate Board of Greater Vancouver reported on Tuesday that new listings for apartments and homes were up while home sales were down in Metro Vancouver.
That can only mean one thing… Buyer’s market!!

“There’s a lot of choice. [Buyers] don’t have to make any rush decisions and they can take the time to buy their dream home,” said Rosario Setticasi, president of the REBGV, in an interview with the Vancouver Sun.

The board concluded that consistent increases in property listings and fewer home sales during through the summer has helped prevent price increases. According to the board’s report, new listings for homes and apartments in the area last month totaled nearly 5,700. This was the third highest volume for September in the last 17 years.

Meanwhile, property sales went up by only 1.2 per cent year-over-year, the third lowest number of sales for September in the past 10 years.

Home prices remain high with the benchmark price for all residential properties in Metro Vancouver sitting at $627,994 in September compared to $577,174 last year.

We never tire of Vancouver news and just looking at that average price has us wide eyed. What a market!

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