Vancouver home sales up 40 per cent from last February

Home sales in Vancouver picked up in Februarycompared with both January and the same month a year ago, coming in2,530, the Real Estate Board of Greater Vancouver says.

Sales through the board's Multiple Listing Service were up morethan 40 per cent from 1,797 a year ago and from 1,760 in Januarythis year.

"Homebuyer demand picked up in February, which is consistentwith typical seasonal patterns in our housing market," said SandraWyant, president of the Vancouver board.

February sales were in line with the city's 10-year average forthe month of 2,547.

The number of new listings for detached, attached and apartmentproperties in Greater Vancouver totalled 4,700 in February comparedwith 4,833 new listings a year ago. There were 5,345 new listings inJanuary 2014.

The total number of properties listed for sale in the Vancouverregion on the MLS system in February was 13,412, down 9.3 per centfrom a year ago, but up 6.4 per cent from January 2014.

The MLS Home Price Index composite benchmark price in theVancouver area was $609,100, up 3.2 per cent from a year ago.