The real estate market on the West Side of Vancouver in 2010 could best be described as an anomoly.  The impact of Vancouver hosting the 2010 Olympics and Paralympics was felt before, during and after the events.  The market picked up in the Spring, and then first time buyers immediately moved to the side-lines after mortgage qualification rules changed in April.  Off-shore buyers continued to snap up high end luxury homes, and larger building lots located near the best schools.  After a normal summer slow-down, the market pace picked up in the Fall, and has been consistently balanced for the last quarter of 2010.  The year ended with approximately half the listing inventory from mid-year. 

Overall, we experienced more inventory and fewer sales compared to 2009, and prices of Condos and Townhomes softened, while prices of Detached Homes have remained stable.  Look for the year end Housing Price Index to be released later this week.