Vancouver Real Estate Up 20% Over Last Year
September 29th, 2006October Market Update - Vancouver Real Estate
We are on the cusp of change here in our market. Attached product above $400k is sitting longer than normal and single offer sales are now the norm. The attached $500k and especially $600k product is showing signs of cooling off. Prices are still stable but activity is down, and duration on market is increasing for these ranges. Detached houses above $1.5M have slowed somewhat on the Westside. Negative US market media, affordability questions, and oversupply are the main reasons for this cooling off period in mid to higher end product ranges. Entry to mid level product in both attached condominiums