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HomeLatest NewsCanadian NewsVancouver Real Estate Board Reports Rise in New Listings, Alleviating Demand

Vancouver Real Estate Board Reports Rise in New Listings, Alleviating Demand

Vancouver Real Estate

According to the Greater Vancouver Real Estate Board, new listings increased in February as house sellers lost some of their hesitance, and home sales increased as well.

The board, which changed its name to Greater Vancouver Realtors last month, says February house sales increased 13.5% from the previous year to 2,070.

However, sales were 23.3% below the 10-year seasonal average.

According to the board, there were 4,560 new listings of detached, attached, and apartment homes last month, which is 31.1% more than the same month last year and about equal to the 10-year seasonal average.

The composite benchmark house price was $1,183,300, up 4.5% from a year earlier and 1.9% from January.

Andrew Lis, the board’s director of economics and data analytics, says the increase in new listings will help relieve some of the pressure that was developing in January and provide buyers more options moving into the spring.

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