While our focus remains firmly on the Greater Toronto Area (GTA) real estate market, it’s always insightful to keep an eye on trends in other major Canadian cities. Recent data from Vancouver reveals a slowdown in home sales during October. According to a report by Greater Vancouver Realtors, sales were down 14.3% compared to the same period last year, with a benchmark price decrease of 3.4%. The composite benchmark price for all residential properties in Greater Vancouver now sits at $1,132,500. New listings are slightly down by 0.3% year-over-year, but total listings have risen by 13.2%. This creates a sales-to-active listings ratio of 14.2%. Understanding these trends in other markets can provide valuable context for analyzing the GTA’s real estate landscape. For a more in-depth look at the Vancouver market, you can read the full article on ctvnews.ca.
Read the original story here: https://www.ctvnews.ca/vancouver/article/vancouver-home-sales-down-14-per-cent-in-october-from-last-year/
