Metro Vancouver home sales and prices stabilized in September, according to Real Estate Board of Greater Vancouver statistics released October 2.
Sales were up 63.8% to 2,483 in September compared with the same month last year, which was one of the worst Septembers in the past several decades. August's sales were 1% below the 10-year average sales for the month.
The benchmark home price for all residential properties in Metro Vancouver was $601,900, or about $400 more than the previous month. Compared with September 2012, the benchmark home price has fallen 0.7% although prices have risen 2.3% compared with January.
"It's important to remember that stronger sales activity does not necessarily equate to rising home prices," said REBGV president Sandra Wyant. "In fact, home prices have not fluctuated much in our market this year."
The parts of Metro Vancouver that had the biggest benchmark home price gains during the past year were: north Burnaby (2.4%), Pitt Meadows (2.2%) and Vancouver's west side (1.9%).
The parts of the Metro Vancouver and Sea-to Sky region with the biggest benchmark home price drops were: Whistler (9.6%), Sunshine Coast (6.5%) and Squamish (5.9%)
