The Market Today …

 

The pace of home sales in Greater Vancouver has picked up significantly with 31% more homes sold in April than in March. That's still lower by 8% than in April of 2008, but a welcome trend. Equally encouraging is the number of new listings trending downwards, with almost 34% fewer homes listed in April than a year ago. Individual areas are showing marked differences in performance.

 

For example, detached home sales in Pitt Meadows show a price increase of 8% over the past year, while West Vancouver houses are down in value more than 29%. Burnaby and Coquitlam houses are down from 11-13% over the year, but still up over 40% over the past five years.

 

The best 5 year value increases in the region are:

• Port Moody detached houses up 66.2%

• South Delta attached homes up 80.5%
• Maple Ridge/Pitt Meadows apartments up 79.6%.