Vancouver repeat home sales inch upward in January

Repeat home sales prices increased 0.3% in Vancouver in January | Shutterstock

Vancouver repeat home sales prices increased 0.3% in January, ending a three-month streak of declines, according to the most recent Teranet Home Price Index, which measures changes in price for repeat sales of single family homes.

The city’s price increase is lower than the national average growth for the month.

“In January, the [index] was up 0.5% from the previous month, matching the largest January increases in the 18-year history of the index in 2003 and 2010,” Teranet said in a report.

“The composite index rose above 200 in January, signaling that home prices in the 11 markets as a whole have doubled since June 2005.”

The biggest price increases across Canada were seen in Hamilton (up 1.1%), Toronto (up 0.8%) and Montreal (0.8%). Prices fell in Winnipeg (down 0.7%), Ottawa-Gatineau (down 0.7%) and Edmonton (down 0.1%).

Earlier this month, the Real Estate Board of Greater Vancouver said sales prices across the region fell about 7% between July 2016 and January of this year. These figures differ from today’s data because the REBGV looks at all home sales, not just repeat sales of single family dwellings.

ecrawford@biv.com

@EmmaHampelBIV

comments powered by Disqus

More from Real Estate

Sewer fee increases to jack up price of new homes

Increases for new development could add up to $5,000 to the price of a single family home: homebuilders

Read Article

Out-of-town homebuyers have driven Vancouver prices up 5-10%: UBC study

Read Article

OSFI sets new mortgage rules beginning January 1, 2018

New rules could drive homebuyers to unregulated lenders, says RBC

Read Article

Sale closes for Howe Sound’s Furry Creek golf course

China-backed owners plan to upgrade 152-acre course with waterfront homes, hotel

Read Article

New Vancouver office tower started; B.C. resort properties upgraded

Read Article

Subscribe to our mailing lists

You may withdraw your consent at any time.

* indicates required

Newsletters

* You can modify your newsletter subscriptions at the bottom of any newsletter you receive.
Business in Vancouver Media Group
303 West 5th Avenue, Vancouver, British Columbia
V5Y 1J6 · Canada
604-688-2398
×