Home Sales Remained High While Listings Were At 3-year Low.
The total home sales in October in the region totalled 3,494 as reported by the Real Estate Board of Greater Vancouver (REBGV) was 5.2% lower than the 3,687 sales recorded in October 2020, and an 11% higher than the 3,149 homes sold in September 2021.
Total home sales for the month were 22.4% above the 10-year October sales average.
“Home sale activity continues to outpace what’s typical for this time of year and the pool of homes available for sale is in decline. This dynamic between supply and demand is causing home prices to continue to edge up across the region,” Keith Stewart, REBGV economist said.
There were 4,049 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service®MLS® in Metro Vancouver:
- This represents a 27.3% fewer homes compared to the 5,571 homes listed in October 2020,
- And a 21.7% lower number of homes listed for sale compared to 5,171 homes that were listed for sale in September 2021.