{"id":19736,"date":"2022-04-12T10:10:00","date_gmt":"2022-04-12T17:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=19736"},"modified":"2022-04-12T07:53:30","modified_gmt":"2022-04-12T14:53:30","slug":"greater-vancouver-home-prices-up-3-6-m-m-increase-20-7-y-y","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2022\/04\/greater-vancouver-home-prices-up-3-6-m-m-increase-20-7-y-y\/","title":{"rendered":"Greater Vancouver Home Prices Up 3.6% M\/M, Increase 20.7% Y\/Y"},"content":{"rendered":"<p style=\"text-align: justify;\">Greater Vancouver home prices continued to soar in March, according to Real Estate Board of Greater Vancouver (REBGV) data released today.<\/p>\n<p style=\"text-align: justify;\">The region&#8217;s benchmark home price rose to $1,360,500 in March, up 20.7% from March 2021, and 3.6 per cent from February, according to the association that represents realtors and their companies.<\/p>\n<p style=\"text-align: justify;\">Benchmark prices for all classes of home have been reaching new all-time highs in recent months. The region&#8217;s benchmark home price at the end of 2021 was $1,230,200.<\/p>\n<p style=\"text-align: justify;\">\u201cWe\u2019re still seeing upward pressure on prices across all housing categories in the region,&#8221; said REBGV chair Daniel John. &#8220;Lack of supply is driving this pressure.&#8221;<\/p>\n<p style=\"text-align: justify;\">Sales for homes has slowed, but remains comparatively high.<\/p>\n<p style=\"text-align: justify;\">Home owners transacted 4,344 sales in March, down 23.9% from the record monthly high of 5,708 homes in March 2021. March&#8217;s sales total was 25.5% higher than the 10-year average for that month.<\/p>\n<p style=\"text-align: justify;\">New homes are being listed for sale, but less frequently than last year.<\/p>\n<p style=\"text-align: justify;\">There were 6,673 detached, atttached and apartment properties listed for sale on the Multiple Listings Service in Metro Vancouver in 2022, according to the REBGV. That is 19.5% down from the 8,287 homes listed for sale in March 2021, but 22% more than the 5,471 homes listed for sale in February.<\/p>\n<p style=\"text-align: justify;\">The real estate class that saw the biggest sales decline was detached homes. Sales of detached homes in March 2022 reached 1,291 \u2013 34.3% less than the 1,965 detached sales recorded in March 2021. The benchmark price for a detached home is $2,118,600. That&#8217;s 23.4% more than March 2021, and 3.6% more than February 2022.<\/p>\n<p style=\"text-align: justify;\">Sales of apartment homes reached 2,310 in March 2022 \u2013 14.3% less than the 2,697 sales in March 2021. The benchmark price of an apartment home in the region is now $835,500. That&#8217;s 16.8% more than March 2021, and 3.4% more than in February 2022.<\/p>\n<p style=\"text-align: justify;\">Attached home sales in March 2022 totalled 743, which was 29% less than the 1,046 sales in March 2021. The benchmark price of an attached home is $1,138,300, which is 28.1% more than in March 2021, and 4.4% more than February 2022.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/biv.com\/article\/2022\/04\/greater-vancouver-home-prices-36-cent-march-february\" target=\"_blank\" rel=\"noopener\">Greater Vancouver Home Prices Up 3.6% in March, from February<\/a> by Glen Korstrom | BIV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Greater Vancouver home prices continued to soar in March, according to Real Estate Board of Greater Vancouver (REBGV) data released today. The region&#8217;s benchmark home price rose to $1,360,500 in &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2022\/04\/greater-vancouver-home-prices-up-3-6-m-m-increase-20-7-y-y\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-19736","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Greater Vancouver Home Prices Up 3.6% M\/M, Increase 20.7% Y\/Y &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2022\/04\/greater-vancouver-home-prices-up-3-6-m-m-increase-20-7-y-y\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Greater Vancouver Home Prices Up 3.6% M\/M, Increase 20.7% Y\/Y &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Greater Vancouver home prices continued to soar in March, according to Real Estate Board of Greater Vancouver (REBGV) data released today. 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