Residential Home Sales
With summer in full swing, it seems that the continued demand for residential property has continued throughout Metro Vancouver^ last month. Even with a somewhat limited inventory pool and home prices creeping up, residential home sales* throughout the region totalled 2,988 in June, up 21.1% from sales recorded in the same month one year ago (2,467). Although down 8.6% over the 10-year seasonal average (3,269).
Andrew Lis, Director of Economics and Data Analysis at the Real Estate Board of Greater Vancouver (REBGV) commented on the June market by sharing, “The market continues to outperform expectations across all segments, but the apartment segment showed the most relative strength in June. The benchmark price of apartment homes is almost cresting the peak reached in 2022, while sales of apartments are now above the region’s ten-year seasonal average. This uniquely positions the apartment segment relative to the attached and detached segments where sales remained below the ten-year seasonal averages.”