Home listings at four-year October high as sales remain below typical levels
VANCOUVER, BC – November 2, 2018 –Home sale activity across Metro Vancouver* remained below long-term historical averages in October.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,966 in October 2018, a 34.9 per cent decrease from the 3,022 sales recorded in October 2017, and a 23.3 per cent increase compared to September 2018 when 1,595 homes sold.
Last month’s sales were 26.8 per cent below the 10-year October sales average. “The supply of homes for sale today is beginning to return to levels that we haven’t seen in our market in about four years,” Phil Moore, REBGV president said. “For home buyers, this means you have more selection to choose from. For sellers, it means your home may face more competition, from other listings, in the marketplace.”
There were 4,873 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in October 2018. This represents a 7.4 per cent increase compared to the 4,539 homes listed in October 2017 and a 7.7 per cent decrease compared to September 2018 when 5,279 homes were listed.
Click below for full stats package:
https://www.rebgv.org/sites/default/files/REBGV-Stats-Pkg-October-2018.pdf%20
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