Real estate sales across Greater Vancouver are sinking. There were 1,516 residential properties that changed hands in September in the region, down nearly 33 per cent from the same month last year. In West Vancouver, where the posh British Properties are located, the number of detached homes sold fell to 43 last month from 71 a year earlier.
Despite the slump in Greater Vancouver’s total sales volume, benchmark index prices slipped only 0.8 per cent to $606,100 last month from September, 2011, for detached, attached and apartment properties. For single-family detached homes, the index price for a typical property was $935,600 last month, or down 0.5 per cent from a year earlier. On Vancouver’s upscale west side, the benchmark index price for a single-family detached home was $2.09-million in September, or a 6.5-per-cent decline from a year earlier.