September home sales in Metro Vancouver and the Fraser Valley were slightly ahead of August sales but considerably down from a year ago, according to two reports released Monday.
In Metro Vancouver, a total of 2,220 sales were recorded in September, a 0.8-per-cent increase from August, but 37.6 per cent less than the 3,559 sales in September 2009, the Real Estate Board of Greater Vancouver (REBGV) reported.
As well, the Fraser Valley Real Estate Board said a total of 1,044 sales were processed in September, a five-per-cent increase from August, but a decrease of 34 per cent compared to 1,590 sales in September of last year.
Since spring, housing prices in Metro Vancouver have trended slightly downward, with a decrease of 2.7 per cent compared to the all-time high reached in April when the residential benchmark price was $593,419, the REBGV said.
The overall benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 5.5 per cent to $577,174 in September from $547,092 in September 2009.
The benchmark price for detached properties increased 6.7 per cent from September 2009 to $790,992.
The benchmark price for Fraser Valley detached homes in September was $507,429, down 0.5 per cent compared to August and 3.3 per cent higher compared to $491,404 in September 2009.