As prices for those more expensive home types kept climbing, more buyers turned to apartment sales, with 1,315 units changing hands in the month – an increase of 10% year-over-year. “This trend is causing fierce competition for a scarce number of homes for sale, which, in turn, increases prices.”īecause of the low supply, total unit sales in the month were down 15.9% for detached homes (622 units sold) and 23.3% for attached homes (348). “As a result, hopeful home buyers have limited choice in the market today,” he said. Keith Stewart, REBGV economist, said inventory is “less than half of what would be optimal to begin the year.” The biggest year-over-year increases in benchmark home prices across the region were seen in Maple Ridge (up 35.9% to $1,134,900) and Pitt Meadows (up 37.7% to $1,035,000).Ī total of 5,663 homes are currently listed for sale, compared with 8,306 in the same period last year. The price for attached homes increased 24.3% over the year, reaching $1,029,500, and for apartments grew 14% to $775,700. For detached homes, the benchmark price reached $1,953,000 – 22.7% higher than one year ago. The benchmark price for all home types was $1,255,200 in January, which is 18.5% higher than the benchmark average in January 2021. The number of Metro Vancouver homes listed for sale in January was 31.8% lower than what was seen in January 2021, and this is nudging home prices ever higher, according to a Real Estate Board of Greater Vancouver (REBGV) report released February 2.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |