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

Funding uncertain, but Agassiz’s Storytime in the Park will go on, organizer says

The literacy program takes place each summer in Agassiz, Harrison and Seabird Island

Hang gliding video gives stunning view of Harrison and Fraser river confluence

Aerial view shows striking difference between two rivers as they meet

Young Chilliwack singer launches career with French classic

Deanne Ratzlaff performs as featured vocalist in La Vie en Rose in Chilliwack, London and Paris

The most h-i-l-a-r-i-o-u-s spelling bee you’ll ever see in Chilliwack

Secondary Characters Musical Theatre hits the stage with The 25th Annual Putnam County Spelling Bee

RCMP use helicopter and police dog to search for suspect on Sts’ailes First Nation

Man known to police fled an allegedly stolen vehicle and firearm on the reserve north of Chilliwack

VIDEO: Agassiz remembers local officer at grave-marking ceremony

Montague White-Fraser had been buried in the Old Cemetery for 92 years without a headstone

B.C. woman wins record $2.1 million on casino slot machine

‘That night was so surreal … I wasn’t able to sleep or eat for the first two days,’ she said

After B.C. dad’s death, Technical Safety BC wants changes to trampoline park rules

Jay Greenwood, 46, did ‘a series of acrobatic manoeuvres prior to a fall that caused serious injury and cardiac arrest’

Cars keyed on BC Ferries after alarms bother dog on board

Delta police arrested one passenger on suspicion of mischief

$900M settlement reached in class action on sexual misconduct in Canadian military

After facing criticism, the government moved to begin settlement proceedings in early 2018

Tax take stays ahead of increased B.C. government spending

Tax revenue $2.1 billion higher than budget in 2018-19

Two toddler siblings found drowned on First Nation in Alberta

The siblings were found drowned on their family’s property, according to RCMP

Chiefs honour Indigenous leader wrongfully hanged in B.C. 154 years ago today

Chief Joe Alphonse says they want his remains returned to his homeland in B.C.’s Cariboo region

Rare white ravens spotted again on Vancouver Island

Nature photographer Mike Yip said mysterious birds back in Coombs area

Most Read