We have had a very healthy start to 2014, with January sales volume at 7.2% above the 10 year average for the month for Greater Vancouver. With a corresponding increase in the number of active listings, the overall picture is still 'steady as she goes' with sales and listings in balance with each other, keeping prices relatively stable.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $606,800. This represents a 3.2% increase compared to January 2013.
Looking specifically at Vancouver, detached homes and townhouses on the eastside are on the cusp of a seller's market, while condo properties are bordering on a buyer's market. All market segments on the westside remain in balanced market conditions.
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