Close X
Sunday, November 24, 2024
ADVT 
National

Vancouver home sales up 27% since February: board

Darpan News Desk The Canadian Press, 04 Apr, 2022 09:45 AM
  • Vancouver home sales up 27% since February: board

VANCOUVER - The Real Estate Board of Greater Vancouver says home sales picked up between February and March but are still down from a year ago.

The B.C. board says last month's sales totalled 4,344, a 27 per cent increase from 3,424 homes sold in February 2022 and a 24 per cent decrease from the 5,708 sales recorded in March 2021.

The board attributed some of the decrease to March 2021 being the highest selling month in its history, but noted that last month’s sales were still 25.5 per cent above the 10-year March sales average.

The month also brought 6,673 new listings, a roughly 20 per cent drop from 8,287 a year ago but a 22 per cent increase from 5,471 in February.

The benchmark price for all residential properties in the area sat at more than $1.3 million last month, a 20.7 per cent increase from last March and a 3.6 per cent climb from February 2022.

Board chair Daniel John says the numbers indicate the market is experiencing a much calmer pace than it saw last year, but activity and prices remain elevated.

“We’re still seeing upward pressure on prices across all housing categories in the region. Lack of supply is driving this pressure,” John said, in a statement.

“The number of homes listed for sale on our MLS system today is less than half of what’s needed to shift the market into balanced territory.”

MORE National ARTICLES

B.C. premier criticizes COVID-19 protesters

B.C. premier criticizes COVID-19 protesters
Video posted on social media says a convoy of vehicles is on the way from Ottawa to Victoria where people are preparing to stay for months to conduct multiple rolling protests.    

B.C. premier criticizes COVID-19 protesters

B.C. COVID-19 hospitalizations drop to 368

B.C. COVID-19 hospitalizations drop to 368
The Health Ministry said in a news release Friday the number of COVID-19 hospitalizations has dropped to 368 from 388 Thursday, with 46 people in intensive care.

B.C. COVID-19 hospitalizations drop to 368

One killed in North Vancouver shooting: RCMP

One killed in North Vancouver shooting: RCMP
Mounties say the shooting took place Friday afternoon outside the Real Canadian Superstore on Seymour Boulevard, just north of the entrance to the Iron Workers Memorial Bridge.

One killed in North Vancouver shooting: RCMP

Pandemic anniversary reminder to be vigilant

Pandemic anniversary reminder to be vigilant
This time, the deputy chief public health officer and his chief, Dr. Theresa Tam, were there to inform Canadians of the first case of the novel coronavirus in Canada.

Pandemic anniversary reminder to be vigilant

Conservative leadership race: who's in, who's out

Conservative leadership race: who's in, who's out
With Sept. 10 picked as the date for when the Conservative Party of Canada will have a new leader, time is ticking for prospective candidates and their teams to get into place. Those running have until April 19 to throw their hat into the ring and until June 3 to sell memberships.

Conservative leadership race: who's in, who's out

Businesses hurt by convoy can apply for $10K: feds

Businesses hurt by convoy can apply for $10K: feds
Fortier says small businesses have shown incredible resilience throughout the pandemic, but especially during the three weeks that anti-vaccine mandate protesters occupied the city's core.

Businesses hurt by convoy can apply for $10K: feds