Home sales in Greater Vancouver in September grew substantially compared with a year ago, both in terms of dollar sales and number of units, according to data released by the British Columbia Real Estate Association October 15.
The month saw total residential sales of $2.48 billion – 25% higher than the $1.99 billion in sales in September 2013. The number of units sold grew 17.5%, from 2,524 in September 2013 to 2,965 in the same month this year.
Year-to-date, there were sales totalling $20.99 billion in September – up more than 25% compared with $16.75 billion a year ago. Unit sales grew 18% from 21,907 to 25,840.
The average home sale price was $812,394 in September. This is up 6.3% compared with $764,408 a year ago.
Across B.C., September 2014 saw 7,636 units sold, up 17.5% compared with a year ago, for a total dollar value of $4.39 billion – a 25.8% increase from $3.49 billion a year ago. Year-to-date, the province had $37.0 billion in home sales, compared with $30.0 billion over the same period last year (up 23.2%).
Home sales in Victoria grew 23.3% in terms of dollar value, from $224.9 million in September 2013 to $277.3 million a year later. The only region of the province that saw a drop was Kamloops, where dollar sales dropped from $68.6 million to $63.1 million.
“Consumer demand remains robust in most B.C. regions,” said BCREA chief economist Cameron Muir.
“More homes traded hands last month in B.C. than any September since 2009, while the Okanagan had its most robust September in nine years.”
The Canadian Real Estate Association also released its September data for October 15, showing a 17.1% increase – from $14.7 billion in September 2013 to $17.2 billion a year later – in home sales across the country.
@EmmaHampelBIV
