Double-digit value progress as Metro Vancouver units all-time actual property gross sales file

Extra properties have been offered in Higher Vancouver in March than in any single month up to now, in keeping with the Actual Property Board of Higher Vancouver.

The group stated 5,708 properties modified arms final month, up 126.1 per cent from the identical interval in 2020, and up 53.2 per cent from February.

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The blistering gross sales quantity was 72.2 per cent above the 10-year common for the month of March, and better than any single month beforehand recorded.

Excessive demand has pushed annual value progress for single-family properties into the double digits, the board stated.

The benchmark value for a indifferent dwelling throughout the area reached $1.7 million in March, up almost 18 per cent year-over-year, and up almost 5 per cent from February alone.

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Townhomes registered a benchmark value of $872,000, up 10 per cent from the identical month final yr and almost 4 per cent from February.

The benchmark value for condos and residences was $715,800, up 3.7 per cent year-over-year and up 2.6 per cent from February.

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The board stated demand was highest in rural and suburban areas. South Delta, for instance, noticed gross sales climb by almost 196 per cent year-over-year.

Whistler noticed progress of virtually 195 per cent, and Squamish noticed gross sales climb almost 189 per cent.

The board attributed the surge in gross sales to a recovering financial system, low rates of interest, excessive demand for house and extra family financial savings.

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