Metro Vancouver real estate sales eased in June as benchmark price was flat

The real estate market in Metro Vancouver eased in June from its record-setting pace in March and April.

The Real Estate Board of Greater Vancouver says the number of home sold in the region totalled 3,762 last month, up 54 per cent from the 2,443 sales recorded a year earlier, but down 11.9 per cent from the 4,268 sold in May 2021.

Sales last month were 18.4 per cent above the 10-year June sales average.

The benchmark price for all residential properties in Metro Vancouver was $1.175 million, a 14.5 per cent increase from last June and up 0.2 per cent from the prior month.

Sales of detached homes rose 45.7 per cent to 1,262, with a benchmark price of $1.8 million that was 22 per cent higher on the year but virtually unchanged from May.

Apartment home sales surged 60.5 per cent to 1,774, with a price of $737,600 that was up 8.9 per cent from the prior year, while sales of attached homes increased 53.8 per cent to 726.

The benchmark price of $946,900 was up 17.4 per cent from June 2020, but just 1.1 per cent higher than May.