Housing Stats for March
The Real Estate Board of Greater Vancouver recently released the sales figures for March 2208. The number of sales were down compared to a year ago, but prices are up. The average benchmark price for a condo in downtown Vancouver increased by 11.5% compared to the same time last year. Prices for houses increased 17% for Vancouver West. For buyers the good news is that there is more inventory to chose from. Canadian Marketing and Housing Corporation is predicting an overall increase next year of 8% for Greater Vancouver.
Many people I have met at Open houses have suggested that Vancouver housing prices are going to fall based on what is happening in the American market. So far we aren't seeing the effects of that. If the effects end up being a smaller increase than the past years, as predicted, I would still consider that a healthy housing market.