Greater Vancouver home sales were down by 7.3%

Home sales were down more than 7.3% in September compared to August but remained strong compared to a year earlier and the historical average.

There were 2,821 home sales in the Greater Vancouver Real Estate Board region, up 25.2% year-over-year and 13.1% above the 10-year average for September.

Our detached homes market is balanced today, while apartment and townhome sales remain in sellers' market territory,” Jill Oudil, REBGV president said. “Detached homes made up 30% of all sales in September and represented 62% of all the homes listed for sale on the MLS.”

New listings were up 12% year-over-year to 5,375 taking the inventory to 9,466, up 1.2%.

The benchmark price on the GVREB MLS HPI was $1,037,300, up 10.7% from September 2016 and up 0.7% from August 2017.

By property type, the benchmark prices were:

                             Price                    Year-over-year   Month-over-month
Detached            $1,617,300                     2.9%                   0.1%
Apartment           $635,800                      21.7%                  1.4%
Attached             $786,600                      14.5%                  1.1%