Vancouver Area Home Prices Fall in August, Number of Sales Up From Year Earlier

The number of homes sold in the Greater Vancouver area was up in August compared with a year ago, but benchmark prices for the major categories of housing was down, the region’s real estate board says.

The Real Estate Board of Greater Vancouver says there were 2,231 home sales last month, up 15.7 per cent from 1,929 in August 2018.

However, it says the benchmark price for 706 detached homes sold in August was $1.4 million, down 9.8 per cent from the same month last year.

Sales of apartment homes reached 1,116 in August — 8.9 per cent more than the same month last year — but the benchmark price for the category fell 7.4 per cent from August 2018 to $771,000.

For the 409 attached homes sold in August, the benchmark price was $654,000 — down 7.8 per cent from a year earlier.

The price declines came as the total number of homes listed for sale in August rose 13.3 per cent from a year earlier, to 13,396.

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