Metro Vancouver home sales and listings surge in September: real estate board

Shaniqua Juliano

Gallery: The U.S. cities with the lowest cost of living (Espresso) Home sales and listings surged in September, according to the latest numbers from the Real Estate Board of Greater Vancouver. © THE CANADIAN PRESS Jonathan Hayward Home sales and listings in Metro Vancouver surged in September 2020. Sales were […]

Gallery: The U.S. cities with the lowest cost of living (Espresso)

Home sales and listings surged in September, according to the latest numbers from the Real Estate Board of Greater Vancouver.



a close up of a sign: Home sales and listings in Metro Vancouver surged in September 2020.


© THE CANADIAN PRESS Jonathan Hayward
Home sales and listings in Metro Vancouver surged in September 2020.

Sales were up 19.6 per cent from August, and more than 56 per cent from September last year, the board said. Listings were up 10 per cent from August.

Loading...

Load Error

Real Estate Board Chair Colette Gerber attributes the increased activity to lower interest rates and changing housing needs during the COVID-19 pandemic.

“While the pace of new MLS listings entering the market is increasing, the heightened demand from home buyers is keeping overall supply levels down,” Gerber said in a release.

“This is creating upward pressure on home prices, which have been edging up since the spring.”

Read more: June home sales in Greater Vancouver surge 64 per cent: real estate board

 

The composite benchmark price for residential properties in Metro Vancouver was just over $1 million, up 0.3 per cent from August and 5.8 per cent from September 2019.

The benchmark price for a detached home in the region was just over $1.5 million in June, up 7.8 per cent year-over-year and 1.1 per cent from August 2020.

READ MORE: Metro Vancouver real estate sales, prices to climb in 2021: Central 1

The benchmark price of a condo was $680,000 in September, up 4.5 per cent year-over-year, but down 0.3 per cent from August.

— With files from Gord Macdonald and Simon Little

Source Article

Next Post

Trump Tempted Fate Long Before Rose Garden Coronavirus Cluster

(Bloomberg) — Ever since March, when much of the country went into lockdown to contain the coronavirus, Donald Trump has tempted fate — ignoring his own administration’s advice on avoiding the virus, yet managing to avoid it all the same. There was a June rally inside a Tulsa arena, […]