Vancouver sales, prices surge

Sales of homes in Greater Vancouver increased 31.7 per cent in the year to January, making it the second best January ever at 46 per cent above the 10-year average for the month. Sales were also up more than 10 per cent from December 2015 with 2,519 units sold. There was a 6.2 per cent drop in new listings in the month.

Sales of detached homes increased 34.1 per cent from the previous January to 1,047 and the benchmark price was $1,293,700, a 27.9 per cent increase from January 2015. Apartment sales were up 35.5 per cent year-over-year to 1,096 and prices increased by 19.4 per cent to $456,600.

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