The Real Estate Board of Greater Vancouver says a total of 2,641 homes sold through its Multiple Listing Service last month, a 12.5 per cent increase from the 2,347 sales recorded in March 2013, but 17.2 per cent below the 10-year March average of 3,190.
“We continue to see steady and stable market conditions across the Greater Vancouver housing market,” said REBGV president Ray Harris. “There has been a consistent balance between home seller supply and home buyer demand in our marketplace over the last year.”
As always, Harris reminds us that the Vancouver region is a diverse marketplace and that trends vary depending on area and property type. So, with that caveat in mind…
More monthly highlights from the report
- New listings totaled 5,281 in March 2014, up 9.1% from March 2013 and an increase of 12.4% from February of this year
- The MLS home price index composite benchmark price in Metro Vancouver was $615,200, up 3.7% from a year ago
- 1,116 detached homes sold in the region last month, an increase of 19.6% from the 933 detached sales recorded in March 2013. The benchmark price for detached properties increased 4.2 % from March 2013 to $945,400.
- Condo sales reached 1,106 in March 2014, an increase of 12.6% compared to the 982 sales in March 2013. The benchmark price for a condo increased 3.8% from March 2013 to $375,800
- Townhome sales in March 2014 totaled 419, a 3% decline compared to the 432 sales in March 2013. The benchmark price of townhome increased 1.3% between March 2013 and 2014 to $460,100