Metro Vancouver home sales edge higher in July, prices still falling

Sales of apartments jumped 15.2 per cent

Home sales in Metro Vancouver rebounded in July, making the traditionally slow selling period the second highest month for demand this year.

Figures from the Greater Vancouver Real Estate Board show residential sales total 2,547 last month, a 23.5 per cent increase over the same time last year.

Board president Ashley Smith says sales activity remains below the long-term average and those looking to purchase are benefiting from increased selection, reduced prices and low interest rates.

The board’s figures show 17.3 per cent more homes were on the market compared with July of last year and prices have dropped for residential real estate.

ALSO READ: Metro Vancouver’s benchmark home price dips below $1M in June

The benchmark price for houses covered by the board is just over $1.4 million, down 10.5 per cent from the same time last year, while the price for townhouses and apartments dropped by nine per cent and 8.8 per cent, respectively.

Sales of apartments jumped 15.2 per cent, while attached home sales increased by 33.6 per cent in July compared with the year before.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

History made in draw 1 of 2020 New Holland Canadian Junior Championship in Langley

Champion curler Carly Smith is an amputee competing with other able bodied athletes

Olatoke sets new Spartans record in Edmonton

Langley-based university off to a good start at Golden Bear Open

Critter Care calls out conservation officer after dropping off bear cub covered in ice

Ice can be seen in video matted into emaciated bear cub’s fur

LETTER: Langley man suggests seniors deserve more from taxpayers

Seniors who rely on CPP and Old Age Allowance are stretched

‘Like an ATM’: World’s first biometric opioid-dispensing machine launches in B.C.

First-of-its-kind dispensing machine unveiled in the Downtown Eastside with hopes of curbing overdose deaths

Canucks extend home win streak to 8 with 4-1 triumph over Sharks

Victory lifts Vancouver into top spot in NHL’s Pacific Division

BC Green Party leader visits northern B.C. pipeline protest site

Adam Olsen calls for better relationship between Canada, British Columbia and First Nations

Horgan cancels event in northern B.C. due to security concerns, says Fraser Lake mayor

The premier will still be visiting the city, but the location and day will not be made public

B.C. landlord sentenced to two years in jail for torching his own rental property

Wei Li was convicted of intentionally lighting his rental property on fire in October 2017

VIDEO: Highway 1 left looking like winter war zone with dozens of stranded vehicles

Tow-truck driver says 30 vehicles still dot snowy landscape, including one rolled-over dairy truck

PHOTOS: Eastern Newfoundland reeling, search underway for missing man after blizzard

More than 70 centimetres of new snow fell overnight, creating whiteout conditions

Prince Harry, Meghan to give up ‘royal highness’ titles

‘Harry, Meghan and Archie will always be much loved members of my family,’ says Queen Elizabeth II

Canada Post driver in hospital after ice smashes windshield at Massey Tunnel

Incident happened on Richmond side of the Massey Tunnel

Most Read