Greater Vancouver home sales soared by 53 per cent in August from the same month a year ago, according to the latest numbers from the Real Estate Board of Greater Vancouver (REBGV).
“We’ve seen a healthy amount of demand in the marketplace this summer compared to the number of homes listed for sale,” said REBGV president Sandra Wyant. “The market today is much stronger than we saw last year and is consistent with our long-term averages for this time of year.”
The benchmark MLS price index in Greater Vancouver for all housing types was $601,500 in August, down 1.3 per cent from the same month in 2012. But, as all know, the Greater Vancouver housing market is vast and diverse, with prices vary greatly depending on the specific region.
The average price of a single-family home on Vancouver’s West Side was $2,079,900 in August, a 1.7 per cent decrease from a year ago.
On the other end of the scale, the average condo in Whistler costs just $212,200, a 14.2 per cent drop from a year ago and a decrease of over 43 per cent compared to 2008 prices.
One of the biggest priced jumps in the last year came in East Burnaby’s condo market, which saw the average price climb 11 per cent from August 2012 to August 2013.
Click here to read all the latest REBGV data.