Condo sales double in Maple Ridge and Pitt Meadows

Overall market continues to show a downward trend in

Sale of condos saw 1.6 per cent increase all through the Lower Mainland. (Black Press Media file)

Sale of condos saw 1.6 per cent increase all through the Lower Mainland. (Black Press Media file)

Condo sales have picked up in Maple Ridge and Pitt Meadows, following the trend for the region.

Sale of apartment homes saw 1.6 per cent increase all through the Lower Mainland.

In Maple Ridge and Pitt Meadows there were 109 house sales in September 2021, which is down from 117 in August and 127 in July. And while sales for townhouses remained the same at 51 and condo sales doubled from 39 in August to 60 in September.

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The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,149 in September 2021, a 13.6 per cent decrease from the 3,643 sales recorded in September 2020, and a 0.1 per cent decrease from the 3,152 homes sold in August 2021.

Last month’s sales were 20.8 per cent above the 10-year September sales average.

“The summer trend of above-average home sales and historically typical new listings activity continued in Metro Vancouver last month. Although this is keeping the overall supply of homes for sale low, we’re not seeing the same upward intensity on home prices today as we did in the spring,” said Keith Stewart, REBGV economist.

The current benchmark price of a house in Greater Vancouver is $1.8 million, but is $1.14 million in Maple Ridge and $1.2 million in Pitt Meadows.

The benchmark price of a townhouse in the region is $963,800, and is $702,900 in Maple Ridge and $759,200 in Pitt Meadows.

The price of an apartment in Greater Vancouver is $738,600, compared with $441,000 in Maple Ridge and $555,900 in Pitt Meadows.

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