British Columbia March 2008 MLS Statistics:

The number of residential units sold in B.C. on the Multiple Listing Service® (MLS®) declined 22.4% in March, with 7,319 units sold. Residential sales dollar volume reached $3.54 billion this month, a 12.6% drop compared to the same month last year, while the average residential home price reached $483,286, and increase of 12.6% compared to March 2007.

Greater Vancouver: The number of residential units sold in March reached 3,053, a drop of 17.1% compared to the same month last year, while dollar volumes also declined 7.9% to $1.9 billion. The average residential home price reached $616,496 this month, an increase of 11.1% compared to March of last year.

Fraser Valley: The number of units sold in March declined 25.4% compared to the same month last year with 1,238 units sold. Dollar volumes also dropped 21.4% to $549.2 million, while the average residential home price increased 5.4% compared to March of last year reaching $443,590.

Chilliwack: March sales declined 29.9% to 206 units, while dollar volumes reached $69.5 million, a 18.3% drop compared to the same month last year. The average residential home price continued to climb in March reaching $337,201, a 16.6% increase compared to March of last year.

Victoria: Sales in March reached 662 units, a 16.4% decline compared to the same month last year. Dollar volumes also dropped 5.3% to $334 million, while the average residential home price reached $504,194, a 13.3% increase compared to March of last year.

Vancouver Island: The number of residential units sold in March reached 659, a decline of 20.4% compared to the same month last year. Dollar volumes declined 13.6% reaching $212.6 million, while the average residential home price rose 8.6% to $322,702.

Okanagan (including South Okanagan): The Okanagan and South Okanagan markets recorded 753 units sold in March, a decrease of 30.3% compared to March of last year, while dollar volumes declined 18.9% to $304 million.

Kamloops: Dollar volumes dropped 31% compared to the same month last year reaching $57.6 million in March. The number of sales dropped 44.1% with 190 units sold, while the average residential home price jumped 23.5% compared to March of last year reaching $303,278.

BC Northern: Residential sales continued to decline in March with 319 units sold, a drop of 17.4% compared to March of last year. Dollar volumes also declined 15.4% to $65.5 million, while the average residential home price recorded a 2.4% increase reaching $205,265.

Kootenay: The number of residential units sold in March reached 191, a 34.1% drop compared to the same month last year. Dollar volumes also declined 24% reaching $53 million, while the average residential home price increased 15.4% compared to March of last year hitting $277,648.