Vancouver area home sales rose 37.8 per cent in October compared to the same month last year while prices barely moved at all. (Tweet this fact)
According to the latest data from the Real Estate Board of Greater Vancouver (REBGV), there were 2,661 homes sold on the Multiple Listing Service last month, up from 1,931 sales recorded in October 2012. The benchmark MLS price index for all housing types in the region was $600,700, a 0.5 per cent decline compared to the same month a year ago. (Tweet this fact)
New listings for October 2013 totaled 4,315, a 0.2 per cent decline from the 4,323 new listings reported 12 months earlier.
“We continue to see fairly typical activity when it comes to monthly home sale and listing totals,” REBGV president Sandra Wyant said. “Today’s activity is helping to keep us in balanced market territory, which means that prices tend to experience minimal fluctuation.”
Last month’s sales were 2.8 per cent above the 10-year sales average for the month, while new listings for the month were 1.9 per cent below the 10-year average.
But as always, the numbers vary across Greater Vancouver’s many regional markets. A few of the highlights:
- The average sale price of a single-detached home in East Vancouver saw a year-over-year price increase of 1% in October to $850,500
- The average sale price of a single-detached home on the city’s West Side rose 1.2% to $2,086,800
- The average sale price of a Whistler condo dropped 21.3% in October 2013 over October 2012 and now sits at $188,800
Click here to read all the latest REBGV data.