{"id":3889,"date":"2016-11-03T11:11:53","date_gmt":"2016-11-03T18:11:53","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=3889"},"modified":"2016-11-02T17:51:05","modified_gmt":"2016-11-03T00:51:05","slug":"rebgv-home-sales-continue-to-plummet-in-october-across-metro-vancouver","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/11\/rebgv-home-sales-continue-to-plummet-in-october-across-metro-vancouver\/","title":{"rendered":"REBGV : Home Sales Continue to Plummet in October Across Metro Vancouver"},"content":{"rendered":"<p style=\"text-align: justify;\">Metro Vancouver home sales plunged 38.8% year-over-year in October, according to Real Estate Board of Greater Vancouver data released November 2.<\/p>\n<p style=\"text-align: justify;\">A total of 2,233 homes were sold in the month, which was 15% below the 10-year average for October. It is also 0.9% less than the 2,253 homes sold in September, the first month in which home sales had slipped below the 10-year average since May 2014.<\/p>\n<p style=\"text-align: justify;\">\u201cChanging market conditions compounded by a series of government interventions this year have put home buyers and sellers in a holding pattern,\u201d said REBGV president Dan Morrison.<\/p>\n<p style=\"text-align: justify;\">\u201cPotential buyers and sellers are taking a wait-and-see approach to try and better understand what these changes mean for them.\u201d<\/p>\n<p style=\"text-align: justify;\">The biggest drop was seen in detached home sales. Between October 2015 and October 2016, sales of this property type fell 55% from 1,437 units to 652. The number of attached homes sold fell 40%, from 666 units last year to 403, and apartment sales were down 24%, from 1,543 to 1,178 units.<\/p>\n<p style=\"text-align: justify;\">Despite falling sales, benchmark prices increased year-over-year for all home types. The benchmark price for detached homes reached $1,545,800, up 28.9% in the 12 months to October. Prices were down 1.4% compared with September.<\/p>\n<p style=\"text-align: justify;\">For attached properties, the average sale price reached $669,200, which is up 25.7% over the year but down 1.1% compared with September.<\/p>\n<p style=\"text-align: justify;\">The benchmark price for apartments increased 20.5% year-over-year and 0.3% compared with September, reaching $512,300.<\/p>\n<p><a href=\"https:\/\/www.biv.com\/article\/2016\/11\/home-sales-continue-plummet-october-across-metro-v\/\" target=\"_blank\">REBGV : Home Sales Continue to Plummet in October Across Metro Vancouver<\/a> by Emma Crawford Hampel | Business in Vancouver<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Metro Vancouver home sales plunged 38.8% year-over-year in October, according to Real Estate Board of Greater Vancouver data released November 2. A total of 2,233 homes were sold in the &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/11\/rebgv-home-sales-continue-to-plummet-in-october-across-metro-vancouver\/\">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-3889","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>REBGV : Home Sales Continue to Plummet in October Across Metro Vancouver &#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\/2016\/11\/rebgv-home-sales-continue-to-plummet-in-october-across-metro-vancouver\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"REBGV : Home Sales Continue to Plummet in October Across Metro Vancouver &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Metro Vancouver home sales plunged 38.8% year-over-year in October, according to Real Estate Board of Greater Vancouver data released November 2. 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