Metro Vancouver Homes - The Q Report December 2008.12
By Alphonse J. Quenneville
(Royal LePage Northshore)
Metro Vancouver real estate sales continued their downward trend, ending 2008 at 35.2% fewer sales than last year. The number of overall listings avaialble for sale was down 8.9% this December over last. Challenges in the global economy in 2008 have brought relief from detached home benchmark prices that had rised fro $357,770 in 2001 to $648,421 in December 2008. Detached home prices have now reached levels consistent with those of mid-2006. Detached home prices in Metro Vancouver have fallen 11.2% from December 2007, to an average benchmark price of $648,421, while listings available for sale were up 6%. The number of detached homes sold in 2008 was down 37.5% from 2007. Townhouse prices in Metro Vancouver fell by 7.4% in the past twelve months, coming in at $423,338 in December 2008....
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