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November home sales were down from October in Vancouver, but well above this time last year

BY , Dec 2, 2020 6:24 PM - REPORT AN ERROR

The Real Estate Board of Greater Vancouver says November home sales were down from October, but still well above this time last year, as the market catches up to the effects of COVID-19.

The board says real estate agents sold 3,064 homes last month, down 16.9 per cent from October but up 22.7 per cent from November 2019.

The board's report says the benchmark price of a Vancouver home hit $1,044,000, up 5.8 per cent from November 2019.

Board chair Colette Gerber says Vancouver is a seller's market, as demand for detached houses and townhomes is pushing prices higher while the rate of new listings lags.

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