Close X
Thursday, November 14, 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

Kids Join Forces To Rescue Eight-Year-Old Boy Dangling From Chairlift In B.C.

Kids Join Forces To Rescue Eight-Year-Old Boy Dangling From Chairlift In B.C.
VANCOUVER — Five quick-thinking boys are being hailed as heroes for rescuing a screaming eight-year-old child dangling from a chairlift at Grouse Mountain ski resort in North Vancouver.    

Kids Join Forces To Rescue Eight-Year-Old Boy Dangling From Chairlift In B.C.

Ex-Pastor Found Guilty Of Manslaughter In Death Of Pregnant Wife

TORONTO — A former Toronto pastor accused of secretly sedating his pregnant wife before she drowned has been found guilty of manslaughter.

Ex-Pastor Found Guilty Of Manslaughter In Death Of Pregnant Wife

Mexico Threw Canada 'Under The Bus,' Liberal MP Tells Mexican Minister

Canada and Mexico are dealing with lingering hard feelings over last summer's surprise Mexican trade deal with the United States as their new continental trade pact

Mexico Threw Canada 'Under The Bus,' Liberal MP Tells Mexican Minister

Talks To Begin In Victoria On New Home, Clearer Context, For Macdonald Statue

VICTORIA — The City of Victoria and local First Nations are mulling over what to do about the mothballed Sir John A. Macdonald statue.

Talks To Begin In Victoria On New Home, Clearer Context, For Macdonald Statue

Prisons Not Meeting Health, End-Of-Life Needs Of Older Inmates, Report Says

Prisons Not Meeting Health, End-Of-Life Needs Of Older Inmates, Report Says
OTTAWA — Canada's prison ombudsman says some older, long-serving inmates are being "warehoused" in prisons not equipped to handle end-of-life care.    

Prisons Not Meeting Health, End-Of-Life Needs Of Older Inmates, Report Says

Pray, Smile, And Relax At Home: Leadership Guide Sparks Uproar At N.L. Women's Conference

The conference gathered over 350 women leaders in Newfoundland and Labrador as the government discussed the details and mandate of its updated status-of-women office.

Pray, Smile, And Relax At Home: Leadership Guide Sparks Uproar At N.L. Women's Conference