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Vancouver luxury home sales fall in first quarter of 2018

After several consecutive years of skyrocketing residential property values, the prices of luxury houses are starting to cool in Vancouver, Canada’s west coast.

New figures by real estate firm Royal LePage showed that during the first quarter of 2018, sales of detached luxury homes decreased 38.2 per cent compared to the same period in 2017, while sales of luxury condos decreased 26.5 per cent.

In that same period, the median price of a luxury detached home in Greater Vancouver rose 5.2 per cent year on year to C$5.79 million (US$4.53 million), while the median price of a luxury condominium rose seven per cent year on year to C$2.5 million during the same period.

Full Story: http://www.scmp.com/property/international/article/2145968/vancouver-luxury-home-sales-fall-first-quarter-2018

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