Vancouver home sales jump nearly 30% in July as tight market persists

In July 2023, Vancouver home sales jumped nearly 30% compared to the same month in 2022, with a total of 2,455 units sold. The MLS Home Price Index composite benchmark price for all residential properties also rose to $1,210,700, up 0.5 per cent over last year, and detached homes had a significant rise in sales with 681 units sold (28.7% increase year-over-year). Inventories remained below last year's levels, and new listings jumped 17%. Andrew Lis attributed the strong year-over-year gains in part to depressed market activity last July.