Greater Vancouver Home Sales Rose 46.3% In September

The Real Estate Board of Greater Vancouver reports that home sales in the city rose 46.3% in September compared with last year to return to average levels after a decline in prices.

The board says 2,333 homes sold in Greater Vancouver, up from 1,595 sales during the same month of 2018, to come in at a level just 1.7% below the 10-year average for home sales during the month of September.

Higher home sales came as the composite benchmark price for all homes in Metro Vancouver was down 7.3% to $990,600 in September compared with last year. The benchmark price was down 0.3% from August.

The benchmark price for detached homes dropped 8.6% in September compared with last year. The benchmark condo price was down 6.5% from last year, and the attached home price was down 7.2%. A total of 4,866 homes were listed in the month, a 7.8% decrease compared with a year earlier, and a 29.9% increase compared with August.

The board said in a news release that the September results are indicative of a more balanced housing market in Greater Vancouver.