Monday, June 27, 2011

Vancouver House Prices Up 25% - Sales Up 7%

 

VANCOUVER - Home sales and prices in the Vancouver area rose in May, as a surge at the high-end of the market overcame a drop in condo deals.
An industry group says total sales rose seven per cent from a year earlier and prices rose six per cent. Sales of detached homes shot 25 per cent higher last month and the average price climbed 10 per cent to $891,000.
But sales of apartment-style condos actually fell nine per cent as the adjusted average price rose two per cent to $407,000.
The Real Estate Board of Greater Vancouver says homes of at least a million dollars now account for one in five sales of all types. Three-quarters of the million-dollar properties are in Vancouver's west side, West Vancouver, and Richmond.
The unadjusted selling price for detached houses last month was $1.2 million, which is 28 per cent higher than a year earlier and up $19,000 from April.

Cat: Vancouver Real Estate Market

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