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Home selling prices still secret in B.C.

By Frank O'Brien for Business in Vancouver

Last week, for the first time in Canada, the general public could see exactly what any home sold for through the Toronto Real Estate Board (TREB), but that information remains a guarded secret in B.C.‘s Lower Mainland.

The release of sale price data in Toronto follows a Supreme Court decision August 21 in favour of a Competition Tribunal order that allowed publication of home sales price information. The decision forced TREB, which has been fighting against the ruling for seven years, to make the information available.

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A number of real estate companies and listing services immediately put the data online through password-protected sites. All someone has to do is register and provide a password to access the information.

In a BIV scroll through one listing service’s web page, it appears that most Greater Toronto homes are being sold for close to their listing price, which may not be the case in much of Metro Vancouver, where home sales have plunged about 32% so far this year compared with 2017.

Continue reading the full story here >>

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