Market varied by area and home type

houses still attracting bidding wars!"

Although winter refuses to release its grip on Vancouver, we still have our Canucks in the playoffs and a steady real estate market where prices advanced 10-18% in a select few areas and categories over the past 12 months.

Though the market took a bit of a breather during April with overall sales down 21% vs. April 2010, it's not time to declare "Buyers market" just yet as much of that slowing was isolated to parts of the Condo market (houses still attracting bidding wars) plus a 14% decline in the number of new listings to market likely also played a role...there is still a shortage of well-priced, quality homes on the market.

What's happening in your area?...There is considerable variation in sales activity within the communities of our region which is causing home price trends to differ depending on the area and type of home.

Richmond is the "Market Star" for price increases supported by a steady in-flow of Mainland Chinese buyers. Vancouver's Westside is running a close second plus Burnaby is also attracting a lot of attention from this active group.

In the Downtown Condo market, there are several recently completed residential towers plus a handful of new project launches. Right now there is a great selection of suites to choose from with upward pressure on prices having eased-off for the time being.

This market environment is ideal for "empty nesters/boomers" considering a move from that big house in the burbs to a new, Downtown luxury suite, those looking for a more spacious condo and first-time Condo buyers.


See details for your neighbourhood below:

"FULL MARKET UPDATE"- (REBGV)
Sales/ Listings Statistics and Graphs for all areas.

All information is approximate

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