Metro Vancouver Homes - The Q Report February 2009.02

Real Estate Sales Representative with Royal LePage Northshore

Metro Vancouver Real Estate sales were down 44.6% from February 2008, but improved by 94.6% from last month, reaching the highest level in the past five months. Listings were down 25.6% from one year ago.

Detached Home prices in Metro Vancouver have fallen 14.2% from February 2008, to an average benchmark price of $653,452. Listings available for sale were down 24.1%. The number of detached homes sold in February was down 40.6% from one year ago, but up 102.1% from last month.

Townhouse prices in Metro Vancouver fell by 9.7% in the past twelve months, coming in at $426,268 in February 2009. The number of townhouses sold in February 2009 fell by 49.8%. Inventory levels fell by 15.2% this February over last.

Condominium prices were down 13.9% from one year ago. With prices averaging $333,143, February sales were down 45.7% from last February. The February inventory of condominiums available for sale declne 30.7% from one year ago.

Statistical source: Real Estate Board of Greater Vancouver

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