Local real estate sales are down from a year ago but up over last month. Sales in February 2011 show a 13% decline from February 2010 but a 17% increase over last month. The average price of a single family home is down 3% from February 2010 but up 3.8% from last month. I feel that the cooler than normal weather experienced in February kept some buyers away. With a return to warmer March-April weather we should see the built-up buyer demand being realized with stronger sales locally. Certainly Vancouver and Victoria are hopping. Some sellers from these larger centers will come here to purchase, usually 2-3 months later. See February 2011 Market Statistics for further details.