Real estate sales dive in Lower Mainland

Down 27 per cent in Greater Vancouver, eight per cent in the Fraser Valley

Greater Vancouver home sales hit a 10-year low in June, down more than 27 per cent from a year ago.

The Real Estate Board of Greater Vancouver called it further evidence of a buyer’s market where potential purchasers have more to choose from and don’t have to race to beat out other bidders.

Despite weakening sales there’s been little sign so far of home prices dropping significantly.

The benchmark residential property price declined 0.7 per cent from May to June and was still up 1.7 per cent from a year ago.

Benchmark prices ranged from $961,600 for single detached houses (up 3.3 per cent from June 2011) to $376,200 for condos (up 0.3 per cent) and $468,400 for attached homes (down 0.1 per cent.)

Sales counted by the Fraser Valley Real Estate Board were down eight per cent since June 2011, although the realtor association said the ratio of sales to listings in the Valley has held steady.

Fraser Valley benchmark prices for detached houses were up 3.6 per cent from a year ago to $551,000 in June, while townhouses held even at $305,000 and condos were up 0.7 per cent to $203,600.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

McCallum declares Feb. 1, 2020 RCMP ‘Appreciation Day’ in Surrey

This year is the centennial anniversary of the national police force

Uber threatens legal action to ‘defend its right’ to operate in Surrey

‘I have no concerns,’ Mayor Doug McCallum replies

Plans for apartments on Strawberry Hill shopping site move forward

It would be near the library, and include 123 rental units

Locke calls for brake on Surrey policing plan, says First Nations not consulted

Surrey City Councillor Brenda Locke wants immediate suspension of city’s policing transition process

Province announces two new sites for future Surrey schools

South Newton site cost $18M, while Redwood Heights location cost $25.5M

VIDEO: Feds look to help 126 Canadians quarantined in China for coronavirus

China has confirmed more than 4,500 cases of the new virus, with more than 100 deaths

Party bus door fault for years ahead of Langley woman’s death: Coroner

Tuesday report classifed Chelsea James’ death accidental, but was critical of bus inspection process

Sap thief taps Saanich park maple trees, faces hefty fine

One tree found with four taps in Mount Doug Park

B.C. reports first coronavirus in Vancouver region

First patient visited Wuhan, China, reported symptoms

Victoria resident says WestJet employee uttered racist comment, refused to let her on plane

Customer claims she was told ‘You guys can’t handle your alcohol’ by WestJet employee

Bystander who tried to help dog being attacked not liable for its death: B.C. tribunal

Owner of dog killed tried to get $5,000 in damages from man who tried to save it

INFOGRAPHIC: See how fast your B.C. city grew in 2019

The province’s fastest-growing municipalities were located on Vancouver Island

Landowner hearings begin for Trans Mountain expansion in Alberta

Detailed route talks start in Spruce Grove, in B.C. communities soon

Alessia Cara to host and perform at 2020 Juno Awards

Multi-platinum Canadian singer-songwriter also up for six awards, including Artist of the Year

Most Read