It was a bit of a bust for the real estate market in Greater Vancouver in 2012.
The year saw below average home sale totals, typical home listing activity and modest declines in home prices, according to the Real Estate Board of Greater Vancouver.
"For much of 2012 we saw a collective hesitation on the part of buyers and sellers in the Greater Vancouver housing market," said board president Eugen Klein. "This behaviour was reflected in lower than average home sale activity and modest fluctuations in home prices."
The board reports that total residential sales reached 25,032 in 2012, a 22.7 per cent decline from 2011, which saw a record of 32,387 sales. Last year's home sale total was 25.7 per cent below the 10-year average for annual MLS sales in the region.
Since reaching a peak of $625,100 in May, the benchmark price for residential properties in the Lower Mainland has declined to $590,800.
In South Delta, the benchmark price for a single-family home in Ladner is $595,100; in Tsawwassen, it's $705,900.
