Vancouver’s residential property market was busy in March with MLS sales up 32.6 per cent from February and 53.7 per cent from March last year. The total number of sales recorded was 4,060. Data from the Real Estate Board of Greater Vancouver also reveals that last month’s total sales figure was 26.8 per cent above the 10-year average.
The board’s president Darcy McLeod says that there is strong competition with multiple offers which is great news for sellers: “The number of homes for sale today is below what’s typical for this time of year. If you’ve been considering putting your property on the market, these market conditions indicate that now may be a good time to list.” That said, the number of listings was 13 per cent higher in March this year than the same month last year and new listings were up 4.7 per cent.
All property types saw large increases in sales year-over-year; apartments up 47.1 per cent, detached homes up 53.3 per cent and attached properties up 72.3 per cent. Darcy McLeod commented that buyer’s are acting fast: “For sellers, this means that it's taking less time, on average, for your home to sell if you have it priced correctly for today's market."