![\"vancouver](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2020\/11\/vancouver-home-prices.jpg\")
<\/a>Photo:\u00a0Himanshu Chanan<\/a>\u00a0\/\u00a0Unsplash<\/a><\/em><\/p>\nActivity in the Vancouver region\u2019s housing market remained robust through October, with the benchmark home price rising six percent to $1,045,100 and sales up 29 percent over the previous year.<\/p>\n
There were 3,687 properties that changed hands last month, close to a record for the month of October, according to data published today by the Real Estate Board of Greater Vancouver (REBGV).<\/p>\n\n
October\u2019s sales total was 34.7 percent above the 10-year average for the month and narrowly surpassed the 3,643 homes sold in September.<\/p>\n
“Home has been a focus for [Vancouver region] residents during the pandemic. With more days and evenings spent at home this year, people are re-thinking their housing situation,\u201d said REBGV President Colette Gerber.<\/p>\n
\u201cWith demand on the rise, homes priced right for today\u2019s market are receiving attention and, at times, garnering multiple offers,” Gerber said.<\/p>\n
The detached home, townhome and condo market segments were all firmly in seller\u2019s market territory, with an average sales-to-active listings ratio of 29.7 percent for October. REBGV says upward pressure on prices occurs when the ratio remains above 20 percent for several months.<\/p>\n
While the month\u2019s 5,571 new listings were up substantially from October 2019, they fell 13 percent compared to September.<\/p>\n
This tightening on the supply side in a seller\u2019s market meant that prices across all property types rose in October.<\/p>\n
The benchmark price for a Vancouver region detached home rose 8.5 percent to $1,523,800 while the benchmark condo price increased 4.4 percent to $683,500. Meantime, townhomes saw their benchmark price climb to $813,000, up 5.4 percent from the previous year.<\/p>\n
Both detached and townhome prices also climbed in October compared to the previous month while condo prices remained flat.<\/p>\n
Activity in the Vancouver region\u2019s housing market remained robust through October, with the benchmark home price rising six percent to $1,045,100 and sales up 29 percent over the previous year.<\/p>\n","protected":false},"author":5,"featured_media":209814,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","apple_news_api_created_at":"2020-11-03T16:29:53Z","apple_news_api_id":"9d7858f5-fe54-425f-a00c-7486cdea0e2a","apple_news_api_modified_at":"2020-11-03T16:29:53Z","apple_news_api_revision":"AAAAAAAAAAD\/\/\/\/\/\/\/\/\/\/w==","apple_news_api_share_url":"https:\/\/apple.news\/AnXhY9f5UQl-gDHSGzeoOKg","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":false,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"middle","apple_news_slug":"","apple_news_sections":["https:\/\/u48r14.digitalhub.com\/sections\/09b86915-7d2b-3acd-915b-b215002d01b7"],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[11269],"tags":[],"coauthors":[8652],"apple_news_notices":[],"yoast_head":"\n