Average Price of Homes in BC Drops 12%

The average price of a residential home in British Columbia fell 12% in March 2009, compared with March 2008, according to the British Columbia Real Estate Association. But more interestingly, home sales in British Columbia increased 24% in March 2009 over the previous month, the second consecutive monthly increase. In terms of dollar volume, in March 2009, residential sales dollar volume declined 35% to $2.3 billion compared with the same month last year. The average price of a residential home in the province is now $424,122.