Vancouver area home sales in October down from a year ago, benchmark price up

The Real Estate Board of Greater Vancouver says October home sales in the region fell 5.2 per cent compared with a year ago, but remained above historical averages.

The board says home sales totalled 3,494 in October, down from 3,687 in October 2020. However, it says sales last month were 22.4 per cent above the 10-year October sales average.

The drop in sales compared with a year ago came as the number of newly listed homes on the Multiple Listing Service (MLS) fell to 4,049 for October compared with 5,571 a year ago.

The total number of homes listed for sale on the MLS system in Metro Vancouver was 8,034, compared with 12,416 in October last year.

The MLS home price index composite benchmark price for all residential homes in Metro Vancouver was $1,199,400, up 14.7 per cent from October last year.