A total of 9,101 residential unit sales were recorded in Vancouver in March, up 37.6 per cent year-over-year, according to new figures.
With home sales being at their highest level since 2007 It may prove more challenging to get into this hot market. Majority of homes are selling within a few days and most of the time they are selling for list price or higher due to competing offers.
More and more sellers are taking advantage of this hot market for detached homes and downsizing into more reasonably priced townhouses that have not seen the level of increase and demand the detached housing market has seen here in the Langley/Cloverdale areas.
This is all being driven by “Rock bottom interest rates and rising consumer confidence” in the strengthening housing market.