British Columbia home prices continued to drop sharply last month but the declines are being driven by the Vancouver market where sales continue to slump, say realtors in the province.
The British Columbia Real Estate Association, which represents about 20,000 realtors, said Tuesday that there 7,272 sales through Multiple Listing Service last month, a 16.7 per cent drop from a year ago. The total volume by dollars was $4.4 billion last month, a 24.2 per cent decline from a year ago.
The average sale price in the province was $606,787 in October, a 9.1 per cent decline from a year earlier.
