This month home buyer demand has thrown Vancouver into the upper reaches of a sellers market. There were 3,286 homes for sale in May which is a 14% increase from May of last year and over 280 more homes than April of this year. So far there are less overall homes for sale on the regions MLS from last year but more homes are selling and faster.
The benchmark home price in Greater Vancouver has experienced consistent growth and now hovers around the $624,000 price for May 2014. Over the past few years homes have been getting more expensive yet the demand has not diminished. As conditions change in the market, individuals are having to change their strategies to overcome the current and future housing prices. If you are interested in a more depth market overview please don't hesitate to contact me.