Some 3,362 homes changed hands across Greater Vancouver’s Multiple Listing Service (MLS) in August, an increase of 21 per cent over the 2,771 sales recorded in August 2014.
According to the Real Estate Board of Greater Vancouver (REBGV), last month’s sales total was nearly 28 per cent about the 10-year average for the month.
“There was no summer lull in our market this year,” REBGV president Darcy McLeod stated in a release.
Sales of single-family homes in August reached 1,290, an increase of 11.4 per cent from a year earlier. Townhome sales climbed 18.7 per cent year-over-year while condo transactions soared 32.7 per cent. Here’s the 12-month sale trend for all property types across the region.
And yes, prices kept climbing too. The benchmark price for all property types in Metro Vancouver ended the month at $708,500, up 12 per cent from August 2014.
As always, the Metro Vancouver housing market is defined by its price diversity depending on property type and location. To demonstrate that point, here are some…
Regional highlights from the report
- The benchmark price for detached houses across the region climbed 17.5% year-over-year to end the month at $1,159,600.
- The benchmark price of a single-family home on the West Side of Vancouver proper hit $2,695,100 in August, up 17.9% from a year earlier.
- The typical price of a detached home on Vancouver’s East Side ended the month at $1,136,000, representing an impressive 21.4% year-over-year increase.
- For the condo segment, Squamish posted the biggest year-over-year gain, with the benchmark price rising 19.3% from August 2014 to $270,600.
- The benchmark price of a townhome in Pitt Meadows climbed 12.7% year-over-year to end the month at $367,700.
For more, the complete REBGV statistics package can be seen here.
