A real estate sign is pictured in Vancouver, B.C., Tuesday, June, 12, 2018. The Alberta Real Estate Association is providing its members with an emergency response app after a realtor was sexually assaulted at an open house in Calgary last month. THE CANADIAN PRESS Jonathan Hayward

Vancouver-area home sales rebound from last year as prices inch downward

2020 began with fewer homes listed for sale than is typical for this time of year

Sales remained steady while fewer people put their homes on the real estate market in Metro Vancouver last month.

The Real Estate Board of Greater Vancouver reports residential home sales in January were 7.3 per cent below the 10-year average but still more than 42 per cent higher than sales during January 2019.

Board president Ashley Smith says 2020 began with fewer homes listed for sale than is typical for this time of year, but she says there was steady demand for the listings.

The spring market is usually more active and Smith says the board will be watching to see if home listings keep pace with demand.

Apartment sales jumped to 814 units last month, a 45.6 per cent increase compared with January last year, while the benchmark price slipped 1.5 per cent to $663,200.

The benchmark price for a detached home in Greater Vancouver also fell in January by 1.7 per cent to just over $1.43 million.

ALSO READ: Court rejects Chinese citizen’s constitutional challenge of B.C.’s foreign buyers’ tax

The Canadian Press

Like us on Facebook and follow us on Twitter.

Real estate

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Delta McDonald’s temporarily closed after employees test positive for COVID-19

Two employees at the Annacis Island location (1285 Cliveden Ave.) reported testing positive on Sept. 18

‘Each step is a prayer’: Ojibwe man will walk from Hope to Vancouver Island for Indigenous healing, reconciliation

James Taylor departs Sept. 20, returns to Saanich in five days for sacred fire

PHOTOS: One injured in shooting on South Surrey-Langley border

Shots reported near 194 Street and 34 Avenue, burned-out vehicle found in 18100-block of 12 Avenue

Mother-daughter charged in 2017 torched-SUV killing in South Surrey now allowed contact

Judge grants Manjit Kaur Deo permission to connect with Inderdeep Kaur Deo through a lawyer

White Rock acupuncturist suspended for ‘scare tactics, excessive fees’

30-day suspension for Jun Hua (Davy) Hua issued Aug. 18

3 new deaths due to COVID-19 in B.C., 139 new cases

B.C. confirms 40 ‘historic cases,’ as well

Ferry riders say lower fares are what’s most needed to improve service

Provincial government announces findings of public engagement process

Air quality advisory ends for the Lower Mainland

It had been in effect since Sept. 8

Supreme Court Justice Ruth Bader Ginsburg dies at 87

The court’s second female justice, died Friday at her home in Washington

Emaciated grizzly found dead on central B.C. coast as low salmon count sparks concern

Grizzly was found on Gwa’sala-‘Nakwaxda’xw territory in Smith Inlet, 60K north of Port Hardy

VIDEO: B.C. to launch mouth-rinse COVID-19 test for kids

Test involves swishing and gargling saline in mouth and no deep-nasal swab

Young Canadians have curtailed vaping during pandemic, survey finds

The survey funded by Heart & Stroke also found the decrease in vaping frequency is most notable in British Columbia and Ontario

B.C. teachers file Labour Relations Board application over COVID-19 classroom concerns

The application comes as B.C.’s second week of the new school year comes to a close

CHARTS: Beyond Metro Vancouver, COVID-19 cases in B.C. haven’t increased much recently

COVID-19 case counts outside of Metro Vancouver have been level since July

Most Read