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The real estate market in Metro Vancouver and across B.C. is showing signs of a slowdown.

A report released Tuesday (December 12) by the B.C. Real Estate Association (BCREA) indicates declining sales this year.

According to BCREA figures, year-to-date unit sales in the Greater Vancouver area as of November 2017 slumped 11.8 percent compared to the first 11 months of 2016.

A total of 34,535 homes were sold in the region as of last month, which were fewer than the 39,137 units that changed ownership in the same period last year.

Dollar volume from sales also dipped 10.9 percent.

Prices rose by only one percent this year as of November compared to the same period in 2016.

As of November this year, an average home in Metro Vancouver was worth $1,030,475.

For the entire province, year-to-date sales as of November 2017 declined 8.8 percent compared to the same period last year.

A total of 98,024 homes were sold in B.C. for the first 11 months of 2017, a number lower than the 107,490 units in the same period last year.

Dollar volume of sales in B.C. went down 6.8 percent, while prices rose 2.2 percent.

According to the BCREA report, the average price of a B.C. home as of November this year was $708,150.