Home prices continue to rise sharply in Metro Vancouver. The average benchmark price of a home on the Real Estate Board of Greater Vancouver’s MLS HPI Composite Index was $899,100 in May. That’s a rise of 29.7 per cent from a year earlier.
Sales increased 17.6 per cent in May with 4,769 properties sold including 1,865 detached (up 8.2 per cent year-over-year) and 754 attached properties (up 2.9 per cent).
Apartments saw the greatest rise in sales, up 34.4 per cent from the previous May to reach 2,150 units.
New listings of all property types were up 11.5 per cent year-over-year to 6,289 units.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: