Vancouver area home sales rose 63.8 per cent in September from the slump they were in a year ago.
There were 2,483 homes sold on the Multiple Listing Service last month, up from 1,516 in September of 2012, according to the latest data from the Real Estate Board of Greater Vancouver (REBGV).
“While sales are up considerably from last year, it’s important to note that September 2012 sales were among the lowest we’ve seen in nearly three decades,” REBGV president Sandra Wyant said in a statement, adding that last month’s activity was in line with the 10-year average for September.
The benchmark MLS price index in Greater Vancouver for all housing types was in $601,900 in September, a 0.7 per cent decline from a year ago but an increase of 2.3 per cent compared to January 2013.
New listings across the region totaled 5,030 last month, a 5.5 per cent decline compared to the same time last year and a 20.2 per cent increase from the 4,186 new listings in August of this year.
And to give you a sense of just how diverse the Greater Vancouver market is, here are a few regional highlights (and lowlights) from the report:
- The average price of a single-detached home on Vancouver’s West Side sits at $2,089,700 — unchanged from September 2012
- The average price of a condo in West Vancouver is $636,700, the highest average of any regional market
- The average price of a condo in Maple Ridge is $176,000, the most affordable mark of any region in Greater Vancouver
- Condo prices in Whistler continue to fall. The September average hit $183,800, representing a -13.4% decline from August, a -23.9% decline from September 2012, and a -50.4% drop from 2008 levels
Click here to read all the latest REBGV data.