Vancouver-area home sales rise in March

By

VANCOUVER (NEWS 1130) – Vancouver-area home sales rose 17 per cent in March month-over-month to 2,524, according to the Real Estate Board of Greater Vancouver.

They were up 46 per cent from a year earlier.

REBGV president Ashley Smith says, “The first two weeks of the month were the busiest days of the year” before the COVID-19 pandemic shutdowns.

The board says sales for March were still 19.9 per cent below the 10-year average for the month as restrictions and concerns around the outbreak put pressure on activity.

Sales averaged 138 per day for the first 10 days of the month, but were down to an average of 93 a day for the last ten days, while the board notes that many sales recorded in the month were already in process before the province declared a state of emergency.

New listings were down 10.4 per cent from the same month last year to 4,436, but up 10.8 per cent from February.

The composite benchmark price was $1.03 million, up 2.1 per cent in March compared with last year.

Editor’s note: An earlier version of this article reported a decrease in home sales in March. It has been updated to correct home sales saw a rise in March. 

Top Stories

Top Stories

Most Watched Today