February Sales Fall Hard Across Canada
National real estate sales across Canada was down in February. Vancouver broke all trends with its unusual volume of multi million dollar homes being exchanged. CREA stated that total sales fell from January in almost two-thirds of the markets surveyed, yet Vancouver real estate showed a 7 percent jump. A report by the BCREA showed that the average home price in Vancouver was up by 19.4% or $128,000. In Kelowana and the South Okanagan, home prices dropped 9.4 per cent $29,000.
Over in Calgary, the market is doing okay thanks to the growth of the oil industry. CREB reports that the number of single family home sales in the month of February 2011 were up 48% from 791 to 1169 units. The number of condominium sales in February 2011 was 468, up from 302 in January. Year-over-year, CREB said the number of single family homes sold in February 2011 in Calgary rose by 13%.
Are you a Vancouver Real Estate Agent or Ottawa Real Estate Agent? How do you feel about your local markets? Is the year ahead looking good? Are you going to vote for the Conservatives again in the upcoming election?
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