Vancouver’s March home sales up 27% since February: B.C. real estate board

VANCOUVER — The Real Estate Board of Bigger Vancouver says property product sales picked up in between February and March but are nevertheless down from a calendar year back.

The B.C. board suggests previous month’s sales totalled 4,344, a 27 for each cent increase from 3,424 homes offered in February 2022 and a 24 for each cent reduce from the 5,708 revenue recorded in March 2021.

The board attributed some of the decrease to March 2021 getting the optimum marketing month in its background, but mentioned that last month’s sales have been even now 25.5 for each cent over the 10-12 months March gross sales ordinary.

The month also introduced 6,673 new listings, a roughly 20 for each cent fall from 8,287 a 12 months back but a 22 for every cent maximize from 5,471 in February.

The benchmark cost for all household homes in the spot sat at more than $1.3 million final thirty day period, a 20.7 for each cent increase from last March and a 3.6 per cent climb from February 2022.

Board chair Daniel John states the quantities reveal the industry is encountering a a lot calmer tempo than it noticed last yr, but action and price ranges continue to be elevated.

“We’re however observing upward pressure on selling prices across all housing categories in the location. Lack of offer is driving this force,” John mentioned, in a statement. 

“The range of properties outlined for sale on our MLS process currently is less than 50 percent of what’s wanted to change the market into balanced territory.”

This report by The Canadian Push was very first revealed April 4, 2022.

The Canadian Press