Diane Birk
Royal LePage Westside
5970 East Boulevard , Vancouver, British Columbia
P: 604-261-9311
F: 604-261-6648
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Royal LePage Westside
5970 East Boulevard , Vancouver, British Columbia
P: 604-261-9311
F: 604-261-6648
Tuesday, April 5, 2011 - Vancouver Westside Housing Prices - March 2011
The Real Estate Board of Greater Vancouver has just released the Housing Price Index for the month of March, 2011:
| Benchmark Price | 3 Month Average | 1 year Change | |
| Detached | $1,914,639 | $1,843,546 | + 15.5% |
| Townhouse | $782,842 | $ 771,100 | + 1.6% |
| Condominium | $ 517,329 | $ 511,228 | + 1.6% |
The number of sales in each category has increased over the previous month, with the most notable increase being in the Condominium category, which is up by 43.8% over February, 2011. Detached sales numbers are up by 15.3% and Townhouse sales are up by 16.9% over February, 2011.
Moving forward into the Spring market, it will be interesting to see what impact the new mortgage rules, and the new increase in mortgage rates will make. Combined with an increasing inventory of homes for sale, we may see the market start to stablize towards the summer.
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