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.

Just Posted

Former Langley resident ‘bounces around genres’ with death-pop record

Skeleton Club releases debut album Death, Love & Money.

Provincial award proves that local motivational speaker is not your average Joe

Langley resident Joe Roberts earns Medal of Good Citizenship, one of 18 recipients in B.C.

Langley literacy group spends $11,000 on new books for kids at Christmas bureau

Bureau’s Gifts for Kids tree is no longer at Willowbrook mall

Operation Red Nose Surrey-Langley could close for rest of season due to lack of volunteers

Organizers say they are struggling to keep up with high call numbers and long wait times

No negligence in RCMP actions in Carson Crimeni death: Watchdog

Police acted properly when they responded to the first reports of the boy being in distress

VIDEO: Kenney lays out key demands for meeting with Trudeau

Alberta Premier Jason Kenney aims for clear signs of federal action on two-day Ottawa trip

Hope’s illicit drug death rate rivals Vancouver

Small Fraser Valley district listed among top five per capita in B.C.

First Nations want Big Bar landslide cleared ASAP to allow fish passage

Leadership calling for urgent action and resources to remove obstruction on the Fraser

Assessed value of Lower Mainland homes expected to decrease in 2020

Other areas of province may see modest increases over last year’s values

15-year-old charged following threat to South Surrey high school

Police announce pair of teens arrested for Nov. 14 incident at Elgin Park Secondary

TransLink CEO ‘hopeful’ SkyTrain shutdown can be averted with last-minute deal

No extra buses will be on the roads if strike goes ahead

Chilliwack family’s therapy dog injured in hit and run

Miniature pit bull Fifty’s owner is a single mother facing close to $10,000 in vet bills

Cougar destroyed in Penticton area after mauling dog, killing cat

This is the first reported incident with a cougar this year in the Penticton area

Injured eagle rescued in White Rock: ‘It was the size of a turkey!’

Bald eagle may have gotten into a fight over territory

Most Read