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.