Residential property sales in Greater Vancouver were down 30% last month compared to June 2009 – which was the second highest selling June on record. But last month’s 2,972 property sales still represent a 22.6% increase over sales recorded in June 2008.
Jake Moldowan, president of the Real Estate Board of Greater Vancouver, said: “Activity in June marked a healthy balance between the near record setting pace of June 2009 and the considerably slower activity witnessed in June 2008.”
Sales in June 2010 also represented a 5.8% decline compared to the previous month.
“There has been less upward pressure on prices in our market the last few months, which has allowed prices to ease back from the record high numbers seen in April,” Moldowan said. He added that the number of new listings coming on the market is not as dramatic as was seen in the previous three months.
New listings for detached, attached and apartment properties totalled 5,544 in June 2010, a 3.2% increase compared to June 2009, and a 21% decline compared to May 2010.