As he drives through Kitsilano in Vancouver’s coveted westside district, real estate agent Chris Frederickson points out the For Sale signs, block after block.

Of 62 active listings, only three homes have sold over the past 30 days in Kitsilano, underscoring the slowdown in residential sales that has hit Canada’s most expensive city for housing. In Greater Vancouver, the number of residential units sold tumbled to 1,670 last month, down 31 per cent from August, 2011.