Van­cou­ver home sales dip in June com­pared with a year ago

The Guardian (Charlottetown) - - BUSINESS -

VAN­COU­VER — The Real Es­tate Board of Greater Van­cou­ver says home sales dipped 11.5 per cent in June com­pared with a record high set a year ago.

The board says 3,893 prop­er­ties changed hands last month com­pared with 4,400 res­i­den­tial prop­erty sales in June 2016.

Sales in June this year were down 10.8 per cent com­pared with May, when 4,364 homes were sold.

How­ever, the board says last month’s sales were still 14.5 per cent above the 10-year sales av­er­age for the month of June.

The MLS com­pos­ite bench­mark price for all res­i­den­tial prop­erty types in Metro Van­cou­ver was $998,700 - a 7.9 per cent in­crease from a year ago and up 1.8 per cent com­pared with May 2017. Board pres­i­dent Jill Oudil said de­mand for de­tached homes has eased back to more nor­mal lev­els, while com­pe­ti­tion for condo units is lead­ing to mul­ti­ple of­fer sce­nar­ios and driv­ing prices higher.

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.