The REBGV reports that residential attached, detached and apartment property sales in the Greater Vancouver area totalled 2,425 in June 2008, a decline of 42.9% from June 2007 and down from 2,999 in May 2008

New listings for detached, attached and apartment properties climbed 18% over a year ago, to 6546.

Although housing prices, on a year over year comparison continue to show single digit percentage increases, we are beginning to see more price reductions in properties listed on the market today. Homes priced at a competitive level continue to sell quickly, but it is important for people to accurately identify their home's value when putting it on the market.

Sales of  detached properties declined 43.4% to 918 from 1,623 units compared to the same period in 2007 and down from 1,203 in May 2008. But the benchmark price rose 7% from June 2007 to $765,264

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