Close X
Saturday, November 30, 2024
ADVT 
National

Vancouver Home Sales Sluggish In February As Prices Continue To Fall

Darpan News Desk The Canadian Press, 04 Mar, 2019 06:09 PM
  • Vancouver Home Sales Sluggish In February As Prices Continue To Fall

VANCOUVER — The local real estate board says the benchmark price of a detached home in Metro Vancouver fell nearly 10 per cent year over year as more sellers listed properties, but house hunters continued to take their time in February.


The Real Estate Board of Greater Vancouver says nearly 28 per cent fewer detached properties sold last month compared with February 2018, and the benchmark price dropped 9.7 per cent to $1,443,100.


Across all residential property types, sales dropped 32.8 per cent compared with a year ago and were 42.5 per cent below the 10-year February sales average.


The benchmark price for all residential properties fell 6.1 per cent to $1,016,600 over the same time frame, with condominium prices down four per cent to $660,300 and townhomes down 3.3 per cent to $789,300.


The board says sales for apartments fell nearly 36 per cent in February 2019 compared with the same month in 2018 and townhome sales declined nearly 31 per cent.


There were just shy of 3,900 new residential property listings last month — down 7.8 per cent compared with the same month the previous year — and the sales-to-active listings ratio for the month was 12.8 per cent.


The board says there is typically downward pressure on property prices when that ratio falls below 12 per cent "for a sustained period."

MORE National ARTICLES

Mandatory Vaccination Reporting 'A Goal' In B.C. Public Schools Says Adrian Dix

VICTORIA — British Columbia Health Minister Adrian Dix says mandatory vaccination status reporting could be in place in the province by September.

Mandatory Vaccination Reporting 'A Goal' In B.C. Public Schools Says Adrian Dix

Quebec Premier Says Hockey Game Should Have Been Stopped After Racist Taunts

Quebec Premier Francois Legault says he's appalled that hockey fans would hurl insults at a player because he's black.

Quebec Premier Says Hockey Game Should Have Been Stopped After Racist Taunts

Liberals Face Pressure To Act On Safer Drug Supply Amid Opioid-Related Deaths

Liberals Face Pressure To Act On Safer Drug Supply Amid Opioid-Related Deaths
The Trudeau government is facing pressure to make safer opioids available to people who use street drugs as overdose deaths continue to increase.

Liberals Face Pressure To Act On Safer Drug Supply Amid Opioid-Related Deaths

Canadians 'Stand Together' Against Bullying On Annual Pink Shirt Day

Today is Pink Shirt Day in many Canadian schools, communities and workplaces.

Canadians 'Stand Together' Against Bullying On Annual Pink Shirt Day

Study Says It Makes Sense To Have Mass Transit To Banff National Park From Calgary

BANFF, Alta. — A feasibility study released today says bus or passenger rail service between Calgary and Banff National Park would make sense.

Study Says It Makes Sense To Have Mass Transit To Banff National Park From Calgary

My Moose Is Bigger Than Your Moose: Norwegian Politician To Visit Saskatchewan

My Moose Is Bigger Than Your Moose: Norwegian Politician To Visit Saskatchewan
The deputy mayor of a Norwegian municipality with a sculpture that set off a mighty moose match with a Saskatchewan prairie city is to arrive for a visit later this week.    

My Moose Is Bigger Than Your Moose: Norwegian Politician To Visit Saskatchewan