Vancouver home market near record levels

Home buyer activity remains near record levels across Metro Vancouver.

Residential property sales in Metro Vancouver totalled 2,519 in January, up 31.7 per cent from the same month last year but down 10.9 per cent from December 2015.

“Home buyer demand is at near record heights and home seller supply is as low as we’ve seen in many years”, according to Real Estate Board of Greater Vancouver President Darcy McLeod.

He adds home sellers are in the driver’s seat as the total number of properties currently listed is 38.6 per cent less than in January of last year.

The benchmark price for a detached property is $1.29 million, up 27 per cent from a year ago.

The area covered in the report includes Whistler and the Sunshine Coast through Vancouver to South Delta and east to Maple Ridge.