No sign of slowdown in Vancouver’s Real Estate marketPosted on October 30, 2015
Residential home sales have been trending at 25% to 30% above the ten-year sales average for most of the year. The number of homes listed for sale hasn’t been keeping up with the demand. It’s this dynamic that’s placing upward pressure on home prices, particularly in the detached home market.
At no point this year has the number of homes listed for sale exceeded 14,000, which is the first time this has occurred in the region since 2007. Sales of apartment properties reached 1,529 in September 2015, an increase of 28.7% compared to the 1,188 sales in September 2014, and an increase of 50.2% compared to the 1,018 sales in September 2013. The benchmark price of an apartment property increased 9% from September 2014.