The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 874 in November 2008, a decline of 69.7 per cent from the 2,883 sales in November 2007.

New listings for detached, attached and apartment properties declined 10.8 per cent to 3,012 in November 2008 compared to November 2007, when 3,377 new units were listed.

Times of turmoil, from which we always emerge, offer excellent opportunities to buy quality real estate" REBGV president, Dave Watt said. "For those whose personal finances allow them to get involved, there are opportunities in today's housing market that have not been seen in many years."

Click on the graph to see it in full size

Full letter from the President of the Real Estate Board of Greater Vancouver, David Watt

You can also download the whole November 2008 REBGV statistics.