The Real Estate Board of Greater Vancouver (REBGV) reports that residential attached, detached and apartment property sales totalled 2,676 in February 2008, a decline of 6.4 per cent from the 2,859 residential sales recorded in February 2007.

New listings for detached, attached and apartment properties rose 26.2 per cent to 5,260 in February 2008 compared with February 2007, which had 4,167 units listed. New listings this February rose 21.2 per cent over new listings figures from February 2006.

Sales of detached properties declined 11.2 per cent to 995 from the 1,121 detached sales totalled over the same period in 2007. The benchmark price, as calculated by the MLSLink Housing Price Index?, for detached properties rose 14.1 per cent from February 2007 to $761,342.

"We continue to see the market rebalance, particularly with detached properties, where listings climb and sales either hold or decline slightly,? says Real Estate Board of Greater Vancouver president Brian Naphtali. "This shift increases buyer options and allows people more time to make decisions when purchasing a home.?

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