According to the BC Real Estate Association, home sales and prices in the Greater Vancouver area are surging to pre-COVID-19 levels. It is difficult to think that in times of job losses and a general economic downturn, home sales and prices in British Columbia are rising in the face of the ongoing pandemic. CTV news recently reported that Vancouver’s real estate market had seen best September on record this year. According to the Real Estate Board of Greater Vancouver, 3,643 properties were sold in September this year, up over 56% from the 2,333 sold in September 2019.
Affordability is still an ongoing issue in the 604 area however, as most houses are out of reach of most people. Again, according to a report by the Real Estate Board of Greater Vancouver, the MLS home price index composite benchmark price for all residential properties hit $1,041,300 in September, up 5.8% from September of the previous year. Has anyone got a million bucks these days?
Stay tuned to 604 Realtor for more Vancouver real estate news.