Robust gains for home sales in the Lower Mainland

The market for existing homes made healthy gains in the first two weeks of October — then again, this is compared to the angst-ridden days of last October.
A total of 3,631 homes were sold in the first two weeks of October — up 34%, compared with the same period last year.
Realtors reported 3,631 sales of existing homes in the first two weeks of this month. This represents a 34% jump, compared with the same period last year. Buyers were obliged to dig deeper into their pockets, as the average sales price rose to $414,479, a 17% increase for the first two weeks of October 2008.
“While demand for existing homes has remained strong, it is important to recognize the context of current statistics, We are now making comparisons to the fall of 2008 when we experienced a marked decline in sales and average price.”
Taking the total sales for 2009 thus far, numbers are up to 69,964, a more modest 6% increase on the same period last year. The average price for year-to-date sales in 2009 is $389,687, a 2% rise on last year’s number.