Benchmark price for all Metro Vancouver home types exceeds $1m for first time in July: REBGV | Real Estate
Home sales across Metro Vancouver dipped in July, bringing market activity down to levels typically seen in the summer months, but the benchmark price for all property types reached a new high, according to the Real Estate Board of Greater Vancouver (REBGV). The benchmark price, when looking at all home types, exceeded $1 million for the first time ever last month, reaching $1,019,400 – a 2.1% increase compared with June and an 8.7% jump compared with July 2016. A total of 2, 960 homes changed hands last month, which is an 8.2% decrease compared with 3,226 homes sold in July 2016. It is also down 24% compared with June 2017 in which 3,893 sales were registered. Last month’s sales were 0.7% above the 10- year sales average for the month of July. REBGV president Jill Oudil said demand is inconsistent across Metro Vancouver . “Pockets of the market are still receiving multiple offers , and others are not,” she said. “It depends on price, property type and location. “For example, it...