Vancouver home sales in February up from year ago, real estate board says

VANCOUVER – Home sales in Vancouver picked up in February compared with both January and the same month a year ago, coming in 2,530, the Real Estate Board of Greater Vancouver says.

Sales through the board’s Multiple Listing Service were up more than 40 per cent from 1,797 a year ago and from 1,760 in January this year.

“Homebuyer demand picked up in February, which is consistent with typical seasonal patterns in our housing market,” said Sandra Wyant, president of the Vancouver board.

February sales were in line with the city’s 10-year average for the month of 2,547.

The number of new listings for detached, attached and apartment properties in Greater Vancouver totalled 4,700 in February compared with 4,833 new listings a year ago. There were 5,345 new listings in January 2014.

The total number of properties listed for sale in the Vancouver region on the MLS system in February was 13,412, down 9.3 per cent from a year ago, but up 6.4 per cent from January 2014.

The MLS Home Price Index composite benchmark price in the Vancouver area was $609,100, up 3.2 per cent from a year ago.