Metro Vancouver home sales plunge 35% in October

Housing prices creeping down in some categories

Home sales took a big hit in October |

Home sales across the region took a drubbing in October, plummeting 34.9% compared with the same month a year ago.

The Real Estate Board of Greater Vancouver (REBGV) reported November 2 the region tallied 1,966 sales last month.

That is down from October 2017’s 3,022 sales, but up 23.3% from September when 1,595 home sales were recorded.

The benchmark price for a single-family detached home in Vancouver’s West Side came in at $3,267,800 in October, up 0.4% from September.

In east Vancouver, the benchmark price fell 1.5% to land at $1,480,700.

The benchmark price for all housing types across the region fell 0.8% to $995,500 between September and August.

Meanwhile, a steady supply of homes hit the market last month.

The REBGV reported 12,984 homes were up for sale — up 42.1% from a year earlier.

torton@biv.com

@reporton

Note: a previous version of the story stated Metro Vancouver experienced a 23.3% decrease in sales between September and October. It was, in fact, a 23.3% increase.