Vancouver's March home sales down 42.5% from a year ago: B.C. board
'New cycle' in Vancouver real estate
The Real Estate Board of Greater Vancouver says home sales fell 42.5 per cent in March from a year ago and were 28.4 per cent below the 10-year seasonal average.
Last month's sales totalled 2,535 compared with 4,405 sales in March 2022 and 1,808 in February.
The B.C. board says the numbers signal that March home sales are making a stronger than expected spring showing so far, despite elevated borrowing costs.
It also found there were 4,317 new listings, a 35.5 per cent decrease from March 2022 and 22.3 per cent below the 10-year seasonal average.
The board says the composite benchmark price for all residential properties in Metro Vancouver reached $1,143,900, a 9.5 per cent decrease from March 2022 and a 1.8 per cent increase compared with February.
The board foresees further price increases as the year progresses.
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