Condo Sales Drive Vancouver Market to New Heights

Vancouver, BC

Competition for condominiums and townhomes pushed Metro Vancouver homes sales above typical levels this summer. Reports indicate that residential property sales saw a 22% year-over-year increase, while last month’s sales were nearly 20% above the 10-year sales average. The demand for condos and townhomes outstrips supply at a pace never before seen, especially between the $350,000 and $750,000 range, while detached sales seem to be balancing. The total number of homes sold reached 529 properties, up from 431.