The high-end residential real estate market in Vancouver is entering the second half of 2013 with “positive momentum,” according to Sotheby’s International Realty Canada data released this week.
The city saw 1,239 sales of high-end properties – defined as homes listed at over $1 million – in the first half of this year. This is a 57% increase over the second half of 2012, but a 6% decline from the first six months of 2012.
The biggest increase was seen in sales of homes with list prices over $2 million. Sales of residential properties between $2 million and $4 million increased by 78%, and home sales over $4 million went up by almost 70%.
High-end home sales by type from January to June of this year were:
- condominiums: 131 units sold – an increase of 26% over the second half of 2012;
- attached homes: 102 units – an increase of 36%; and
- single family homes: 528 units – an increase of 56%.
