on record for the Real Estate Board of Greater Vancouver. What's causing this upward cycle? Conditions today are being driven by low interest rates, a declining supply of detached homes, a growing population, a provincial economy that's outperforming the rest of Canada, pent-up demand from previous years and, perhaps most importantly, the fact that we live in a highly desirable region! Last months sales were 29% above the year average.
- Yaletown - 63% of properties are selling- RED HOT Market
- Coal Harbor -36% of properties are selling
- West End -47% are selling
- Downtown- 43% area selling
(anything over 21% is considered a SELLERS MARKET)
Most active price band- $400-$500k and properties over $800-$900k
Properties are selling on average 1% below list price.
Average price for downtown condo $562,000 compared to last June at $519,000. Prices are up 8%!