A year with 'staggering price increases'

expect to see more American buyers!"

Many records were set in the Greater Vancouver Real Estate market during 2015.

Much of it can attributed to the usual suspects; record low interest rates, stable economy and strong off-shore demand for houses and luxury condominiums.

The year was highlighted by a general shortage of listings & record sales resulting in 'staggering price increases' in many areas. Tsawwassen/Ladner led the detached house market with prices up 32% over the past 12 months while East Van Townhouse prices surged 23% and West Vancouver's condo market was the standout with prices up 24%!

The market should 'stay the course' during 2016 though it's likely that price increases will moderate in some areas/segments. Market support will come as a result of continued record low interest rates, a relatively strong BC economy/consumer confidence, a weak Canadian dollar fueling immigration and international investment plus rising migration & investment from Alberta as a result of falling oil prices/economic uncertainty.

I also expect to see more American buyers, with their strong US. dollars, seeking value and security through an investment in Vancouver Real Estate.

"If the world were perfect, it wouldn't be" (Yogi Berra)

Market Update below/ Contact me for your 'SNAP STATS' report (detailed area update)

Sales/ Listings Statistics and Graphs for all areas.

All information is approximate

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