Vancouver: August sales higher than a year ago, down from July

Sales of homes in Greater Vancouver were up by 21.3% in July compared to a year earlier but down 15.5% from June.

The Real Estate Board of Greater Vancouver says that there were 3,362 sales in August 2015. Although this was lower than in July, it was 27.9% above the 10-year average for the month.

Tighter inventory has made an impact on total sales. Although new listings on the MLS increased by 8.7% year-over-year in August, the total number of homes available was 26.2% lower than a year earlier and 5.3% lower than in July.

The MLS Home Price Index composite benchmark price in Greater Vancouver was up 12% year-over-year to $708,500.

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