Detached home prices reached an average benchmark price of $868,177, up 2.6% from last August, but down 1.8% from last month. The year-to-date August sales of detached homes declined 21.9% from last year. With the decline in sales, inventory levels have increased by 7.1% from one year ago.
Townhouse prices were up just .6% from one year ago, but down 4% from last month. Sales were down 63.4% from last August, significantly lower than the year-to-date decline of 25%.
Condominium prices fell 1% from August 2007. The number of condo sales this August over last fell 61%. Year-to-date sales are down 27% from last year.
Statistical source: Real Estate Board of Greater Vancouver