The Real Estate Board of Greater Vancouver says the region saw a 50% jump in home sales between January and February as the market continues to run hot.
The real estate board says Metro Vancouver home sales totalled 3,424 in February, down 8.1% from 3,727 a year earlier but up 49.8% from 2,285 in the previous month of January.
Sales in February this year were 27% above the 10-year February sales average and came as more people put their homes on the market.
There were 5,471 new listings in Vancouver during February, up 8.4% from 5,048 in February 2021 and up 31.2% from 4,170 in January of this year.
The average price for all residential properties in the Metro Vancouver region reached $1.3 million last month, a 20.7% increase from February 2021 and a 4.6% increase from January of this year.
Vancouver’s housing market in January of this year dipped due to lockdown measures brought about in response to the Omicron variant of COVID-19.
