BRITISH COLUMBIA
04/02/2014 04:06 EDT | Updated 06/02/2014 05:59 EDT

Vancouver Real Estate: Home Sales Pick Up From Year Ago, Board Says

ASSOCIATED PRESS
FILE - In this Aug 26, 2009 file photo, a sold sign is posted outside a recently sold home in Springfield, Ill. Sales of new homes are expected to post a small increase in November for the third month in a row, a sign that the housing market is finally on solid ground. (AP Photo/Seth Perlman, File)
VANCOUVER - Home sales in the Vancouver region picked up in March compared with a year ago, but were still well below the long-term average for the month, according to the city's real estate board.

The Real Estate Board of Greater Vancouver said Wednesday there were 2,641 homes sold through its Multiple Listing Service, up from 2,347 a year ago.

However, the tally fell short of the 10-year sales average of 3,190 for March.

The sales-to-active-listings ratio was 18.2 per cent, unchanged from February, a level that the board suggests a balanced market.

"We continue to see steady and stable market conditions across the Greater Vancouver housing market," said board president Ray Harris in statement.

"There has been a consistent balance between home seller supply and home buyer demand in our marketplace over the last year."

New listings totalled 5,281 in March compared with 4,839 new listings in March 2013 and 4,700 new listings in February.

The total number of homes listed for sale on the Vancouver MLS system was 14,472, down 6.4 per cent compared with a year ago, but up 7.9 per cent from February.

The MLS home price index composite benchmark price Vancouver was $615,200, up 3.7 per cent from a year ago.

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