News

Richmond house sales drop 52 per cent

If there was any uncertainty about whether we're in a buyer's market or not, the latest numbers released Wednesday by the Real Estate Board of Greater Vancouver cleared that up.

And Richmond's statistics show a sharp year-over-year decline in the demand for single family  houses.

Last month, 76 detached homes changed hands, at a median price of $912,000.

That's compared to June of 2011, when 158 were sold at a median price of $980,000.

Year-over-year demand for condos and townhouses also dropped.

113 condos were sold in June, compared to 139 a year ago, down nearly 19 per cent. Prices also dropped, down two per cent to $340,000.

The number of townhome sold also fell nearly 32 per cent, with a median price down 2.7 per cent to $545,000.

On the more optimistic side, while detached home and townhouse sales dropped between May and June of this year, condos managed to buck the trend.

Month-over-month condo sales jumped 21.5 per cent, from 93 in May to 113 in June, but the median price fell a little more than four per cent to $340,500.

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

You might like ...

NDP blasts lottery corporation spending
 
New autism centre to open in 2016
 
More money pledged for Richmond Olympic Experience
Surrey boy, 3, struck and abandoned
 
Surrey murder victim identifed as Jaylen Sandhu, 17
 
“Suspicious” Agassiz house fire under investigation
B.C. to announce Peace River dam decision
 
Hunter protest over new regulations to benefit guides fills Langley meeting room
 
Trinity Western University in Langley sues law society over law school

Community Events, December 2014

Add an Event


Read the latest eEdition

Browse the print edition page by page, including stories and ads.

Dec 19 edition online now. Browse the archives.