Real estate listings in Vancouver and Vancouver-Edmonton have risen for the first time in more than a decade, according to new data released Tuesday.
B.C.’s real estate industry has been growing for years, but the recent uptick has been particularly strong.
The median price of homes in Vancouver hit an all-time high of $1.073-million in February, and prices in Vancouver-area properties are now up more than 15 per cent over the past 12 months, the BC Real Estate Board reported Tuesday.
The average price of a home in Vancouver is up 15.7 per cent since March, while in the city-area, the average price rose more than 13 per cent, according the Real Estate Council of B.I.
Real estate listings are the fastest-growing segment of the local housing market.
In March, the median price for a house in Vancouver was up 15 per.2 per cent from the same month last year.
Vancouver is also home to the highest number of new listings than any other metropolitan area.
The data comes after the real estate board said that B.com.au reported a “sharp” fall in listings for the third consecutive month in May, following an eight-month drop.
That was followed by a 17 per cent decline in June.
The Real Estate Agency of B