During the first month of this year home sales outpaced historical averages in Greater Vancouver increasing by 30% compared to January 2013.

A total of 1,760 homes were sold last month and sales in January were also 7.2% higher than the 10-year average for the month, according to The Real Estate Board of Greater Vancouver.  “The Greater Vancouver housing market has been in a balanced market for nearly a year,” Sandra Wyant, REBGV president said in the report, adding: “this has meant steady home sale and listing activity accompanied by stable home prices.”

However, although home sales increased on a yearly basis, when compared to December 2013, they actually fell by 9.9%.

Also, while sales levels were high for January, the number of listings for all property types in Greater Vancouver reached 5,345, up 4.2% from a year earlier.

In January, the total number of listings also passed historical averages, increasing 17.7% from the market’s 10-year new listing average for the month. 

The average property price in Greater Vancouver did rise by 3.2% in 2013 though and is currently $606,800 (£335,000).