Detached:  The current Housing Price Index released by the Real Estate Board of Greater Vancouver indicates that the Benchmark Price of a Detached home on the Westside is now $1,656,986, a positive change of 47% from one year ago.  The number of new listings for the month of April, 2010 has increased by 68.2% from March, but the number of sales also increased by 60%.  All in all, the Detached market on the Westside has remained strong, whereas we may be seeing some signs of weaking in the Condo market.

Condominiums:  The number of new Condominium listings in the month of April, 2010 was up by 94.3% over March, but the number of sales increased by only 13.2%, which is significantly different than what is happening in the Detached market.  The current Benchmark Price is $509,246, an increase of 20.6% from a year ago.  Some first time buyers are starting to get squeezed out by higher prices, and higher interest rates.  However, it appears that prices are levelling off as inventory climbs.

Townouses:  Similar to the Condominium market, the Benchmark Price has increased by 23.4% over the past year, now at $770,766.  We saw an increase in new listings of 103.5%, whereas there was only at 18.5% increase in sales, when comparing April, 2010 with March, 2010.