Home sales and prices in Metro Vancouver continue to rise during this fall season.
The Real Estate Board of Greater Vancouver reports that residential sales totalled 3,687 in October 2020.
The number represents a 29 percent increase from the 2,858 sales in October 2019. It is also a 1.2 per cent increase from the 3,643 homes sold in September 2020.
Meanwhile, the price of a typical home in Metro Vancouver rose to $1,045,100.
This price constitutes a six percent increase over October 2019, and a 0.4 percent increase over September 2020.
The REBGV covers Vancouver, Burnaby, New Westminster, Coquitlam, Port Coquitlam, Port Moody, Maple Ridge, Pitt Meadows, North Vancouver, West Vancouver, Squamish, Sunshine Coast, Whistler, Richmond, and South Delta.
The board presented the October 2020 market situation in a media release Tuesday (November 3).
“Home has been a focus for residents during the pandemic,” REBGV chair Colette Gerber said.
The board reported that 1,335 detached homes sold in October 2020, a 42.3 percent increase from the 938 detached sales recorded in October 2019.
The price of typical freestanding home rose to $1,523,800. This marks an 8.5 percent increase from October 2019, and a 1.1 percent increase over September 2020.
A total of 1,570 condo units sold in October 2020, a 13.4 percent increase compared to 1,384 in October 2019.
The price of a typical condo came to $683,500. This constitutes a 4.4 percent increase from October 2019, and is unchanged compared to September 2020.
Meanwhile, attached home sales in October 2020 totalled 782, a 45.9 percent increase compared to the 536 sales in October 2019.
The benchmark price of an attached home was $813,000. This marks a 5.4 percent increase from October 2019 and a 0.4 percent increase compared to September 2020.