Real estate sales down in Lower Mainland

Prices edge down in Greater Vancouver, Fraser Valley, since property market's peak in May

Property sales were down more than 28 per cent in November from a year earlier, according to the Real Estate Board of Greater Vancouver.

The region’s composite residential benchmark price has declined 4.5 per cent to $596,900 since peaking in May at $625,100. The benchmark is down 1.7 per cent from a year ago.

Board president Eugen Klein said sellers seem more inclined to take their home off the market than cut the price, while buyers still expect lower prices to come.

In the Fraser Valley, which includes Surrey, White Rock and North Delta, year-over-year sales were down 19 per cent.

Both regions also saw significantly lower sales from October.

The Fraser Valley Real Estate Board said its composite residential benchmark price is down one per cent in the last six months.

Detached houses there were still up two per cent from a year ago to $544,700.

Just Posted

All child porn charges against Chilliwack realtor dismissed

Meissner’s computers contained ‘miniscule’ amount of content normally found on offenders’ devices

B.C. Wildfire crews respond to Sts’ailes, Morris Valley fires

A fire at the First Nation and a grass fire in Mission sent smoke across the valley Wednesday

Power outages causing problems for Morris Valley Road residents

One resident argues BC Hydro ‘not fulfilling (its) mission statement’ thanks to unreliable power

Harrison retiree leaves legacy of ‘non-stop ideas’

Ruth Altendorf is remembered as a ‘“bubbly, enthusiastic, outgoing person’

Harrison musician Todd Richard gearing up for album release party in Chilliwack

Todd Richard’s third album, Live Your Life, features all ‘true-story’ songs

Harrison Hot Springs students bring ‘Twelfth Night’ to life

The adaption of Shakespeare’s classic comedy include songs and phrases from Canada’s east coast

Nowhere to grieve: How homeless people deal with loss during the opioid crisis

Abbotsford homeless advocate says grief has distinct challenges for those living on the streets

ICBC shifts to Alberta model, with higher rates, private insurers say

B.C. public insurance includes funding enforcement, driver licensing

B.C., feds accused of ‘environmental racism’ over Site C, Mount Polley

Amnesty International Canada says governments failed to recognize threats to Indigenous peoples

New Leger polls suggests federal Liberals lagging Conservatives

Overall, 31 per cent of respondents polled said they would vote for Justin Trudeau’s Liberals

Two men charged in Lower Mainland grocery store stabbing in 2018

Coquitlam RCMP say the incident is ‘believed to be targeted’

Number of homeless deaths more than doubled in B.C. as opioid crisis set in

New data shows trend between more overdose deaths and the number of people dying in the street

Most Read