The number of homes Sold in the Westside are starting to edge up ever so slightly, a trend we haven't seen since last October.  The number of homes sold in the last 3 consecutive weeks are 41, 57, and 69.  Given the activity level of showings compared with last fall, we should see this trend continue into the Spring market.  The recent drop in interest rates means that buyers can lock into a much lower mortgage payment now, rather than waiting to time the bottom of the market, which would be a matter of pure luck, rather than strategy.

Inventory levels have edged up since the beginning of the year, but it is important to note that the market is not being flooded.  We still have an oversupply of newly constructed condominiums in the downtown core.  Of the 2,254 "attached" listings, 840 of those are in Downtown and the West End.  A total of 762 of the "attached listings are priced at over $700,000.  The bottom price end in Detached houses remains tight, with only 13 properties available under $850,000, west of Granville Street, and only 37 in all of the Westside, including Marpole.