The Real Estate Board of Greater Vancouver says strong demand for the few homes listed for sale last month helped boost the benchmark price for all residential properties in the region to just over 1.2-million dollars.
The board says that's up 1.3 per cent in a single month -- although it's still more than two per cent below the benchmark price set one year ago.
Overall, the board says the housing market "continues to outperform expectations," -- with the apartment or condo market eclipsing slightly slower sales in the townhouse and detached home sectors.
The board also notes that sales continue to outstrip listings -- hiking the competition for available properties and potentially pushing prices even higher
