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Home sales, prices continue to fall in Vancouver area October sales were down more than 16 per cent

ANCOUVER (NEWS1130) - Vancouver-area home sales continued to fall in October, while prices declined slightly.

The Real Estate Board of Greater Vancouver says sales were down 16.7 per cent to 1,931 last month. They were 28.5 per cent below the 10-year October average.

The industry group says its benchmark price was $603,800, which is down 0.8 per cent from a year ago and 3.4 per cent below the peak in May, which was $625,100.

Sandra Wyant with the REBGV says overall conditions remain in favour of buyers.

The actual average selling price for a detached house last month was $1.12 million, down a relatively-small $46,000 from a year earlier.

Single-detached homes saw an 18.9 per cent sales drop, while apartment-style condos fell 16.2 per cent.

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.