Close X
Thursday, November 28, 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

Nanaimo, B.C., couple lose $400,000 in scam

Nanaimo, B.C., couple lose $400,000 in scam
A statement from police says the couple, who are both in their late 80s, were contacted by phone early last year. They were told they had won $18.5 million and a Mercedes-Benz but would have to pay administrative fees in order to collect.

Nanaimo, B.C., couple lose $400,000 in scam

Health workers emergency summit warns of burnout

Health workers emergency summit warns of burnout
Health workers have now endured two difficult years of pandemic conditions, leading to serious burnout across nearly all sectors of the health-care system.

Health workers emergency summit warns of burnout

Trudeau, Polish leaders, discuss refugee crisis

Trudeau, Polish leaders, discuss refugee crisis
Prime Minister Justin Trudeau is in Poland today meeting with Duda and Poland's Prime Minister Mateusz Morawiecki as an estimated 100,000 Ukrainian refugees pour into Poland every day.

Trudeau, Polish leaders, discuss refugee crisis

Charest to launch Conservative leadership bid

Charest to launch Conservative leadership bid
Winning is something Conservatives want to see after three back-to-back losses to Liberal Prime Minister Justin Trudeau, whose minority of seats in the House of Commons means an election could be triggered at any point.

Charest to launch Conservative leadership bid

B.C. set to update COVID-19 situation

B.C. set to update COVID-19 situation
Dr. Bonnie Henry said last week the province was better positioned to consider removing pandemic restrictions before students begin spring break on Monday.

B.C. set to update COVID-19 situation

Urgent action needed on OD deaths: B.C. report

Urgent action needed on OD deaths: B.C. report
 The death review panel report released Wednesday by chief coroner Lisa Lapointe's office sets a deadline of May 9 for the government to create a safer supply policy in collaboration with the BC Centre for Disease Control and the BC Centre on Substance Use.

Urgent action needed on OD deaths: B.C. report