Greater Vancouver home sales climbed in November compared with a year earlier
A real estate sold sign is shown outside a house in Vancouver on Tuesday, Jan.3, 2017. (Jonathan Hayward / THE CANADIAN PRESS)
The Canadian Press
Published Monday, December 4, 2017 3:14PM EST
Last Updated Monday, December 4, 2017 5:17PM EST
VANCOUVER -- Residential home sales in Greater Vancouver jumped by about 26 per cent in November compared with the same month a year ago.
The Real Estate Board of Greater Vancouver says the number of sales, which saw 2,795 homes sold, is 17 per cent above the 10-year average for the region in November.
Sales dropped by 7.5 per cent in November compared with October, when just over 3,000 homes sold.
Board president Jill Oudil says there is a steady demand in the market, with the townhome and condominium markets being particularly strong.
The benchmark price for detached properties was about $1.6 million, about a six per cent increase from November 2016.
Oudil says there are more listings entering the market this year compared with the same time last year, but inventories are still below typical levels.
The benchmark price of an apartment property was about $648,000 in November, an almost 24 per cent increase from November 2016.