Vancouver home sales slowed in October, while Calgary sales hit record

October home sales in Vancouver fell 5.2% compared with a year ago, while sales in Calgary set records, the regions’ real estate boards reported this week.

The Real Estate Board of Greater Vancouver said home sales totalled 3,494 in October, down from 3,687 in October 2020. However, sales last month were 22.4% above the 10-year October sales average.

The Calgary Real Estate Board said Monday the region experienced a record number of home sales last month and that the pace appears on track to continue.

Calgary saw 2,186 sales in October, up about 24% from 1,763 during the same month last year. The board said those figures are more than 35% higher than longer-term averages and put the 23,848 homes sold this year on pace to reach a record high.

This year’s sales in Calgary are already 61% higher than average activity recorded over the past five years and 42% higher than 10-year averages, the board said. New listings for October reached 2,500, up almost 2% from 2,460 the same month the year prior.

The benchmark price edged up by nearly 9% to $460,100 last month from $422,600 in October 2020.

In Vancouver, the drop in sales came as the number of newly listed homes on the Multiple Listing Service fell to 4,049 for October compared with 5,571 a year ago.

The total number of homes listed for sale on the MLS system in Metro Vancouver was 8,034, compared with 12,416 in October last year.

The MLS home price index composite benchmark price for all residential homes in Metro Vancouver was $1,199,400, up 14.7% from October last year.

Staff, with files from The Canadian Press

The Canadian Press is a national news agency headquartered in Toronto and founded in 1917.