News: Vancouver Real Estate Market

Metro Vancouver prices remain high as home sales slow - Vancouver Sun

Metro Vancouver realtors saw their second-slowest August for residential property sales since 1998,
but prices are relatively stable, the region’s main real estate board reported Wednesday.


“We’ve seen a slowdown in the market in terms of the number of transactions, but there’s relative price
stability,” Real Estate Board of Greater Vancouver president Eugen Klein said.


Detached housing prices were relatively flat in August compared with a year ago, while the condo
market has declined by one per cent, and townhomes down almost two per cent.


“You’re starting to see very slight changes in price. Three months ago we were at an 18- to 19-per-cent
sales-to-listing ratio, now we’re at nine. You would tend to expect that prices would fluctuate more, but
we’re not seeing that in the marketplace,” Klein said.


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