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

VIDEO: RCMP asks public how Mounties can better serve the community

Meanwhile, City of Pitt Meadows works towards creating own police force

Mounties nab speeders going twice legal limit

Ridge Meadows RCMP have stopped nine excessive speeders since Sunday

Maple Ridge-Pitt Meadows Country Fest goes online for 2020

Two day festival will feature musical acts streaming live from the Albion Fairgrounds July 25-26

Ridge Meadows RCMP looking for two credit card scammers

Pair of women completed fraudulent transactions at seven locations in May

UPDATE: Free film for Ridge residents to mark Plastic Free July extended another week

The Story of Plastic can be viewed for free on any device until July 21

Study suggests 8 times more people in B.C. infected with virus than confirmed

The study looked at anonymous blood samples collected for reasons unrelated to COVID-19

Canucks want baby bear cub at Aldergrove zoo named Huggy Bear

Greater Vancouver Zoo recently rescued three grizzly bear cub who need names

Police watchdog probes Vancouver arrest after man on bicycle left with ‘serious’ injuries

Police were searching for a man who was allegedly involved in a prior incident when they saw him on a bicycle

‘We’re not busting ghosts’: Northern B.C. paranormal investigators check out bistro

Paranormal North Coast British Columbia recently checked out PF Bistro at City Centre Mall.

Russian hackers seeking to steal COVID-19 vaccine data: intel agencies

It is believed APT29, also known as ‘the Dukes’ or ‘Cozy Bear’ was responsible

Twitter racing to unravel mystery cyberattack

Some of the world’s most prominent names had their Twitter accounts post invitations for an apparent Bitcoin scam

B.C. announces funding to support post-secondary students with disabilities

The province is investing $275,000 in the new BCcampus website

Tough time for tree fruits as some B.C. farm products soar

Province reports record 2019 sales, largely due to cannabis

Abbotsford woman starts petition to have B.C. government help with IVF costs

Jennifer Kuiken says cost of in vitro fertilization is too high for most people

Most Read