Vancouver area home sales jump 46.3 per cent in September to near average level

The benchmark price for detached homes dropped 8.6 per cent in September compared with last year

The Real Estate Board of Greater Vancouver says home sales jumped 46.3 per cent in September compared with last year to hit near average levels after a decline in prices.

The board says 2,333 homes sold in the month, up from 1,595 sales last year, to come in at a level just 1.7 per cent below the 10-year average for September.

Higher home sales came as the composite benchmark price for all homes in Metro Vancouver was down 7.3 per cent to $990,600 in September compared with last year. The benchmark price was down 0.3 per cent from August.

The benchmark price for detached homes dropped 8.6 per cent in September compared with last year. The benchmark condo price was down 6.5 per cent from last year, and the attached home price was down 7.2 per cent.

ALSO READ: Canadian Real Estate Association raises 2019 forecast as August home sales up

A total of 4,866 homes were listed in the month, a 7.8 per cent decrease compared with a year earlier, and a 29.9 per cent increase compared with August.

The board says the statistics indicate a more balanced housing market.

The Canadian Press

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