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Greater Vancouver real estate hits $3M sales record in 2014

A record number of homes sold for more than $3 million dollars in Greater Vancouver last year, up 31% from 2013, according to Macdonald Realty.

842 homes sold for more than $3M benchmark in 2014

A record number of homes sold for more than $3 million in Greater Vancouver last year, up 31% from 2013, according to Macdonald Realty.

The real estate company has been tracking the number of properties over $3 million listed on the Multiple Listing Service for 15 years.

A lot has changed in that time, said Dan Scarrow, vice president of corporate strategy.

"We picked the $3 million dollar barrier in 2000 because back then there were only ten homes in Greater Vancouver that sold for over $3 million," he said.

In 2014, that number had grown to 842 — an increase of 31 per cent from the year before, he said.

The highest concentration of properties selling for more than $3 million was in West Vancouver and parts of Vancouver's West Side such as Point Grey, said Scarrow.

With files from Jeff Harrington

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