Wed Apr 2, 2014 11:19am PST
Sales and prices for Metro Vancouver homes edged higher in March, according to statistics released April 2 by the Real Estate Board of Greater Vancouver (REBGV).
The REBGV counted 2,641 residential property sales in March, which is 12.5% more than the 2,347 properties that transacted in March 2013. It is also a 4.4% premium over the 2,500 homes that changed hands in February.
March's sales, however, were 17.2% below the 10-year sales average for the month, which is 3,190 sales.
Prices also rose – both year-over-year and compared to February.
The REBGV pinned the benchmark home price for the region at $615,200. That's 3.7% more than the benchmark price of $593,100 in March 2013. It is also higher than the REBGV's benchmark price of $609,100 in February.
Fueling this stability is a constant sales-to-active-listings ratio, which stayed flat from February at 18.2%.
"We continue to see steady and stable market conditions across the Greater Vancouver housing market," said REBGV president Ray Harris. "There has been a consistent balance between home seller supply and home buyer demand in our marketplace over the last year."
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