Detached home prices in Metro Vancouver rose 7.0% since June 2007, reaching an average benchmark price of $765,654. The number of detached homes sold in June fell by 43.4% from one year ago, a significant dip from the 23.2% year-to-date decline. Listings were up 12.2% over last June.
Prices of Metro Vancouver townhouses have increased 7.6% in the past twelve months, reaching $476,585 in June 2008. The number of townhouses sold fell by 41.9% from last June. With the slowing sales trend, inventory has continued to rise, with 26% more townhouses available for sale this June over last.
Condominium sales have followed a similar trend. With prices averaging $388,722, the number of sales in June fell 42.7% from June 2007. Listings increased 21.5% from June of last year.
Statistical Source: Real Estate Board of Greater Vancouver