Photo: Stephen Rees/Flickr
Whatever way you want to look at it, Vancouver-area home sales were up big in September — month-over-month and year-over-year.
According to the Real Estate Board of Greater Vancouver, 2,922 homes changed hands on the Multiple Listing Service last month, up 5.4 per cent from August and an impressive 17.7 per cent increase from a year ago.
Last month’s sales were 16.1 per cent above the 10-year sales average for the month and rank as the third highest selling September.
“September was an active period for our housing market when we compare it against typical activity for the month,” said REBGV resident Ray Harris.
The benchmark price for all property types across the region climbed 5.3 per cent from September 2013 and now sits at $633,500.
“Gains in home values are being led by the detached home market. Condominium and townhome properties are not experiencing the same pressure on prices at the moment,” Harris said before pointing out that sale and price trends can vary a great deal depending on the area and housing type.
To demonstrate that point, here’s the price breakdown for each housing segment across the region.
For a micro view of the Greater Vancouver housing market diversity, here’s a comparison of one of the region’s most expensive markets, the West Side of Vancouver, with one of its most affordable, Port Moody.
The complete September statistics package can be seen here.