Greater Vancouver house prices increased to $624,000 in May, a 4.3 per cent year-over-year rise, the Real Estate Board of Greater Vancouver (REBGV) reported June 3.
The biggest price rise was in detached homes, which increased to to $966,500, or 5.4 per cent more than a year ago.
Condo prices in Vancouver rose 3.2 per cent year-over-year to $377,500 and townhouses increased 3.1 per cent to $469,100.
Total sales in Metro Vancouver were 3,286 homes in May, up 14 per cent compared with May 2013.
In the Fraser Valley, detached homes sold for an average of $566,400, up 3.1 per cent over last May, according to the Fraser Valley Real Estate Board's (FVREB) latest figures.
Condos sold for an average of $198,100, down 2.6 per cent year over year. Townhouses in the area fell 0.2 per cent to $297,300.
However, the Fraser Valley's overall sales growth outstripped Vancouver's, rising 16.5 per cent year over year to 1,420 total sales in May.
Greater Vancouver MLS® Benchmark Prices % Change May 2014 Apr 2014 May 2013 Detached $966,500 +1.0% +5.4% Townhome $469,100 +1.0% +3.1% Apartment $375,500 +0.5% +3.2%
Metro Vancouver: What's Up, What's Down
May/ Apr 2014 May 2014 / May 2013 Overall Sales +7.7% +14% - Detached +8.8% +19.9% - Townhome +0.9% +2.4% - Apartment +9.7% +13.2% New Listings -0.2% +5% Current Listings +3.6% -6.7%
Fraser Valley MLS® Benchmark Prices, % Change
May 2014 Apr 2014 May 2013 Detached $566,400 +0.1% +3.1% Townhouse $297,300 -0.5% -0.2% Apartment $198,100 +0.9% -2.6%
Fraser Valley: What's Up, What's Down
Apr/Mar 2014 Apr 2014/ Apr 2013 Overall Home Sales +9.3% +16.5% - Detached +13% +18.5% - Townhouse +1.5% +19.4% - Apartment +8% +6.6% New Listings +0.3% +1.84% Active Listings +5% -9.1%
Read the REBGV report here and the FVREB report here, and look out for our full analysis coming soon.
