By Canadian Press

Vancouver housing market posts second-best October on record as sales rise 29%

Nov 3, 2020 | 7:55 AM

VANCOUVER — The Real Estate Board of Greater Vancouver says October home sales were up 29 per cent compared to a year ago, making it the second-best October on record.

The board says its agents sold 3,687 homes last month, up from 2,858 sold in October 2019.

Home sales were also up 1.2 per cent from September amid a surge in sales of detached homes.

The benchmark price for Vancouver homes hit $1,045,100 in October, up six per cent from last October and 0.4 per cent from September.

The housing market has been catching up after COVID-19 lockdowns earlier this year stymied the spring selling season.

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Board chair Colette Gerber says October’s housing market snapshot shows that people are re-thinking their housing situation during the COVID-19 pandemic, with more days and evenings spent at home this year.

This report by The Canadian Press was first published Nov. 3, 2020.

The Canadian Press