Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in February 2020.
According to the Real Estate Board of Greater the Metro Vancouver residential home sales in the region totalled 2,150 in February 2020, a 44.9 per cent increase from the 1,484 sales recorded in February 2019, and a 36.9 per cent increase from the 1,571 homes sold in January 2020. In the report, the Board highlights that last month’s sales were 15.6 per cent below the 10-year February sales average.
Ashley Smith, REBGV president said:
“Home buyer demand again saw strong year-over-year increases in February while the total inventory of homes for sale struggled to keep pace -This was most pronounced in the condominium market.”
Areas covered by the Real Estate Board of Greater Vancouver include: Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.
Looking for more information about the real estate market in specific neighbourhoods in the Greater Vancouver?
Macdonald Realty has offices across the Greater Vancouver. Please email email@example.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.
MLS® Home Price Index (HPI) Benchmark Price
Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.
This blog post is based on market data provided by the Real Estate Board of Greater Vancouver (REBGV) www.rebgv.org