NEWS
05/03/2016 14:25 EDT | Updated 05/04/2017 01:12 EDT

Vancouver home sales hit record for April, prices soar from year ago

VANCOUVER — The Real Estate Board of Greater Vancouver says home sales in the region hit a record level for April with prices sharply higher compared to a year ago.

The board says sales totalled 4,781 for April, up 14.4 per cent from 4,179 in the same month last year.

The increase came as the MLS composite benchmark price for all homes in Metro Vancouver climbed 25.3 per cent from a year ago to $844,800.

The benchmark price for detached homes for the month was $1.4 million, up 30.1 per cent compared with a year ago.

The board says home buyer competition remains intense across the region with April sales 41.7 per cent above the 10-year average for the month.

It noted that new home listings totalled 6,127 in April compared with 5,897 in April 2015.

There were 7,550 properties listed for sale on the MLS system in Metro Vancouver, down 39.3 per cent from a year ago.

The Canadian Press