"March was the highest selling month the REBGV has ever recorded,” Dan Morrison, REBGV president said. “Today's demand is broad based. Home buyers are active in neighbourhoods across our region."
New listings were up 5 per cent year-over-year and 8 per cent from February however inventory was more than 40 per cent below that of March 2015 with 7,358 properties for sale.
The tight supply saw the benchmark price rise by 23.2 per cent year-over-year to $815,000.
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Home sales in the Greater Vancouver market reached a new record in March with 5,173 sales through the MLS of the Greater Vancouver Real Estate Board. There was a jump of 24 per cent from February and the sales volume was 27.4 per cent higher than March 2015 and 56 per cent above the month’s 10-year average.