{"id":11417,"date":"2019-01-18T10:10:37","date_gmt":"2019-01-18T18:10:37","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=11417"},"modified":"2019-01-11T15:41:08","modified_gmt":"2019-01-11T23:41:08","slug":"vancouver-home-prices-drop-during-q4-amid-significant-reduction-in-sales","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/01\/vancouver-home-prices-drop-during-q4-amid-significant-reduction-in-sales\/","title":{"rendered":"Vancouver Home Prices Drop During Q4 Amid &#8220;Significant Reduction&#8221; in Sales"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver aren\u2019t quite coming back to Earth, but their stratospheric heights lost some altitude in the fourth quarter of 2018.<\/p>\n<p style=\"text-align: justify;\">The aggregate home price in Vancouver decreased 0.6% year over year to $1,418,252, according to the Royal LePage house price survey released January 11.<\/p>\n<p style=\"text-align: justify;\">Meanwhile, the aggregate home price in Greater Vancouver as a whole grew 2.1% to $1,274,831 in Q4 2018 compared with the same period a year earlier.<\/p>\n<p style=\"text-align: justify;\">Nationwide the aggregate price grew 4% year over year to land at $631,223.<\/p>\n<p style=\"text-align: justify;\">The survey said the local real estate market is facing higher inventory levels and fewer transactions, especially in the detached housing segment.<\/p>\n<p style=\"text-align: justify;\">&#8220;While we&#8217;ve seen a significant reduction in the number of sales across all housing types, condominiums continue to outperform all other housing types in Greater Vancouver,&#8221; Randy Ryalls, general manager of Royal LePage Sterling Realty, said in a statement.<\/p>\n<p style=\"text-align: justify;\">The survey revealed that the median price of condo across the region shot up 4.6% to $680,991 year over year.<\/p>\n<p style=\"text-align: justify;\">&#8220;While the condo market is showing balance, in contrast, sales activity within the detached housing market has slowed down considerably and is firmly in a buyer&#8217;s market,\u201d Ryalls said.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/biv.com\/article\/2019\/01\/vancouver-home-prices-drop-during-q4-amid-significant-reduction-sales\">Vancouver Home Prices Drop During Q4 Amid &#8220;Significant Reduction&#8221; in Sales<\/a> by Tyler Orton | Business in Vancouver<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver aren\u2019t quite coming back to Earth, but their stratospheric heights lost some altitude in the fourth quarter of 2018. The aggregate home price in Vancouver decreased 0.6% year over &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/01\/vancouver-home-prices-drop-during-q4-amid-significant-reduction-in-sales\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-11417","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Vancouver Home Prices Drop During Q4 Amid &quot;Significant Reduction&quot; in Sales &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.roryc.ca\/blog\/2019\/01\/vancouver-home-prices-drop-during-q4-amid-significant-reduction-in-sales\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Vancouver Home Prices Drop During Q4 Amid &quot;Significant Reduction&quot; in Sales &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver aren\u2019t quite coming back to Earth, but their stratospheric heights lost some altitude in the fourth quarter of 2018. 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