Property sales fell off but prices continued to rise

Province

The Real Estate Board of Greater Vancouver says 2,941 detached, attached and apartment properties sold in February, representing a decrease of 4.1 per cent, compared with 3,068 sales in February 2005. More than 66 per cent of the homes sold were below the average price of $490,004.

According to Multiple Listings Service data, apartment sales decreased by 8.7 per cent to 1,212, compared with 1,327 sales one year ago. The benchmark price is $297,192, up 22.6 per cent.

Attached-property sales increased 5.1 per cent to 552 sales, compared to 525 sales one year ago and the benchmark price of an attached unit is $364,114, up 15.9 per cent.

Detached-property sales decreased 3.2 per cent to 1,177, compared with 1,216, and the benchmark price is $598,989, up 21.8 per cent.

© The Vancouver Province 2006