"Our market has had a very strong start to the spring season," noted Rosario Setticasi, REBGV president. "With home sales above 4,000 and nearly 7,000 home listings added to the MLS® in March, it's clear that homebuyers and sellers view this as a good time to be active in their local housing market."
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 4,080 in March 2011. This represents a 31.7 percent increase compared to the 3,097 sales recorded in February 2011, and an increase of 30.1 percent compared to the 3,137 sales in March 2010. Looking back further, it also reflects an 80.1 percent increase from the 2,265 home sales in March 2009.
"Conditions favour sellers at the moment, but we're seeing differences in home-price trends and overall activity depending on the region and property type," Setticasi said.
The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months increased 5.4 percent to $615,810 in March 2011, from $584,435 in March 2010.
Curious about how your particular neighborhood compares to the overall market? Even if you're not planning to move right now, it's still important to be aware of current home values. Please remember that you may call for a real estate update at any time, with no obligation.