Vancouver: The Real Estate Board of Greater Vancouver says a seasonal drop in home sales last month, along with a boost in the number of listed properties, has eased the month-over-month price hikes seen across the region for most of this year.
The board says residential sales were 13 per cent higher last month than a year ago – but remain well below the 10-year seasonal average – while new listings of all types of properties were 28 per cent higher than last September.
The seasonal sales dip, combined with more choice for buyers, helped push the sales-to-active listings ratio – especially for detached homes – into the range where prices might soften.
A release from the board says the composite benchmark price for all types of Metro Vancouver residential properties is 1.2-million dollars, roughly half a per cent lower than August, but about four-and-a-half per cent higher than September of last year. — The Canadian Press