Homes sales were up big in the Greater Vancouver region last month compared to January 2013.
According to the latest data from the Real Estate Board of Greater Vancouver (REBGV), 1,760 homes sold on the Multiple Listing Service last month, a 30.3 per cent increase from January 2013, and 7.2 per cent above the 10-year average for the month.
“The Greater Vancouver housing market has been in a balanced market for nearly a year. This has meant steady home sale and listing activity accompanied by stable home prices,” REBGV president Sandra Wyant said.
The benchmark price for all residential properties in Metro Vancouver is currently $606,800, a 3.2 per cent increase compared to January 2013.
But as always, the region is made up of many diverse markets and housing forms. To demonstrate that diversity, here are some of the regional highlights from REBGV’s January 2014 report:
- The benchmark price of a single-family home in Port Moody was up 5.9% year-over-year in January
- The benchmark price of a single-family home on Vancouver’s West Side hit $2,144,200 in January, up 7.5% from 12 months earlier
- In Pitt Meadows, the benchmark price of a condo climbed 10.3% year-over-year in January to $258,200
- The benchmark price for all residential properties on the Sunshine Coast fell -5.0% from January 2013 to January 2014