Home sales in Metro Vancouver see a jump in February

The Real Estate Board of Greater Vancouver says the region saw a 50 per cent jump between January and February in the number of homes sold, as the market experienced a modest increase in new listings.

The B.C. board says Metro Vancouver home sales totalled 3,424 last month, down 8.1 per cent from 3,727 in February 2021 and up 49.8 per cent from 2,285 in January 2022.

The board says last month’s sales were nearly 27 per cent above the 10-year February sales average and came as more people put their homes on the market.

There were 5,471 new listings last month, up 8.4 per cent from 5,048 in February 2021 and up 31.2 per cent from 4,170 in January 2022.

The home price index composite benchmark price for all residential properties in the region reached more than $1.3 million last month, a 20.7 per cent increase from last February and a 4.6 per cent increase from January of this year.