No respite for property sales in Vancouver area’s scalding housing market

March torrid for home sales from Delta to Whistler, Vancouver to Maple Ridge

Vancouver’s blistering housing market continued to stun purchasers and elate sellers in March with record-breaking figures released from the Real Estate Board of Greater Vancouver.

Numbers released Monday by the board showed 5,173 residential properties were sold last month, a hike of 24 per cent over February, and 56 per cent above the 10-year sales average.

“March was the highest selling month the (board) has ever recorded,” said president Dan Morrison in a news release.

He said activity touched every neighbourhood in the region, which covers an area from South Delta north to Whistler and from Vancouver east to Maple Ridge.

Homes in Delta, Surrey or Langley are not included in the board’s tally.

A release from the board also showed new listings for all types of properties, from apartments to detached homes, continue to climb compared with last month and March of 2015.

The composite benchmark price for all residential properties across Metro Vancouver is $815,000, a 23.2 per cent hike in one year.

The average price for detached properties soared to above $1.34 million in the same period, a leap of 27.4 per cent.

“Strong job and economic growth in our province, positive net migration and low interest rates are helping to drive this activity,” Morrison said.

The Canadian Press

Just Posted

Highway 7 down to one-lane alternating as crews fight Mt. Hicks wildfire

150-hectare blaze prompted closure of a provincial park

Night patrol on Chilliwack waters leads DFO to seize 48 sockeye and harbour seal from poachers

Charges pending after two poachers arrested for fishing at night

WATCH: Recruitment set to start for the Molson Coors Brewery at Chilliwack

There were about 1,000 jobs during the construction phase and some staff now being sought

Chilliwack goes cluck-cluck for chickens ahead of civic election

With an election in sight, urban chickens supporters ramp up their efforts for legal acceptance

Wildfire smoke brings in air quality advisory for Lower Mainland

People with health conditions are urged to avoid the outdoors

Average Canadian family spends 43% of income on taxes: study

Fraser Institute’s consumer report shows taxes accounting for larger chunk of income each year

RCMP to search for body after man drowns in B.C.’s Buntzen Lake

Officers and fire crews responded but the man from the Lower Mainland is believed to have drowned.

Police chiefs call for stricter controls on pill presses to fight opioids

Canada’s police chiefs are urging Ottawa to beef up its fight against the opioid scourge by closely vetting people who import pill presses

Hot, dry conditions forces drought rating to highest level on Vancouver Island

The province says Vancouver Island is under Stage 4 drought conditions

Victoria police say explicit calls continue to target women

Over 50 reports of unwanted, sexually explicit calls have come in

‘It’s like a party in your mouth’

B.C. creator’s Milkshake Burger makes its debut at the PNE

Get involved in the Great Canadian Bumble Bee Count

Environmental organization develops app to help with the nationwide count

Pesticides linked to bee deaths will be phased out in Canada, sources say

Neonicotinoids, or neonics, are a class of pesticides used by farmers and hobby gardeners alike

Most Read