The Real Estate Board of Greater Vancouver has just released its Housing Price Index for the month of May, 2011:

Detached:  The number of detached listings dropped by 5.6% from April, whereas the number of sales have increased by 6.5% over April, and the market still strongly favours Sellers.  The listing inventory in the detached market remains extremely tight, with not enough homes to meet current demand.  Cambie/Douglas Park remains an extremely hot market, while other neighborhoods are showing signs of a very slight cooling off.

Townhomes and Condominiums:  We have seen a 19.8% increase in new townhome listings over the previous month, but a decline in the number of sales by 26.3%, so it appears that the townhouse sector is showing signs of moving towards favouring Buyers, but it's still too early to tell if this is simply a blip in the market.  The condominium market has remained the most stable, with an increase in new listings of only 4.2% over April, but a decline in sales of 2.2%.  The number of sales in the condominium sector is skewed due to many pre-sales by developers that are not reflected in MLS® statistics.  Several new projects have been brought to market in the Downtown Core and Southeast False Creek, which are attractive to investors rather than end-users.

For the most accurate evaluation of your particular property as it relates to your micro-market, I'm just a phone call away - 604-261-9311.