Vancouver housing prices are up 64% from last September but have remained stable due to the increased mortgage lending laws. Since last year the REBGV has indicated an increase of almost 100% of listings on the market.
The market is a good mix of buyers and sellers and properties that are priced well move quickly with sometimes multiple offers. Properties that are priced poorly sit for long periods of time and become stagnant and buyers lose interest.
The average benchmark home price in the Greater Vancouver area is set at $601,900.