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July home sales in Richmond top numbers from 2013

July was a good month for local real estate compared to a year ago, according to the latest numbers from the Real Estate Board of Greater Vancouver. - file photo
July was a good month for local real estate compared to a year ago, according to the latest numbers from the Real Estate Board of Greater Vancouver.
— image credit: file photo

July was a good month for local real estate compared to a year ago, according to the latest numbers from the Real Estate Board of Greater Vancouver.

More single family homes and townhouses were sold in Richmond last month than a year ago, up 8.9 per cent and 3.2 per cent respectively. The median selling price also rose, increasing 10.6 per cent to $1.035 million for detached houses and 8.1 per cent to $532,860 for townhomes.

"This is the fourth consecutive month that the Greater Vancouver market has exceeded 3,000 sales," said Darcy McLeod, president-elect of the real estate board. "Prior to this, our market had not surpassed the 3,000 sale mark since June of 2011."

Month-over-month, sales of houses and townhomes cooled somewhat compared to June—down 4.2 per cent and 14.2 per cent respectively—though condo sales rose 6.4 per cent while median selling prices dropped 4.2 per cent.

Regionally, home sales for July topped the 10-year average.

"Today's activity continues to put Metro Vancouver in the upper reaches of a balanced real estate market," McLeod said.

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