Financial Post | Business

It’s been three years since homes sold at this pace in Greater Vancouver but local realtors note it’s still below the record-setting numbers of the past.

The Real Estate Board of Greater Vancouver said 2,771 homes sold through Multiple Listing Service in August, a 10.2% increase from a year ago but a 9.5% decline from July. August sales were 4.3% above the 10-year average for the month.

“Activity this summer has been strong but not unusual for our region,” said Ray Harris, board president, in a release. “The volume of home sales has been higher than we’ve seen in the last three years, yet below the record-breaking levels of the past decade.”

Prices also continue to rise with the board’s Home Price Index composite benchmark price for all residential properties $631,600, a 5% increase from a year ago. The benchmark price for a single family detached home in greater Vancouver…

View original post 89 more words

Advertisements