VANCOUVER, B.C. – February 2, 2011 – The Greater Vancouver housing market remained in balanced market conditions in January, although higher levels of buyer demand were seen in some of the region’s largest communities.
Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price of detached homes increased 22.6 percent in Richmond and 12.2 percent in Vancouver West. In comparison, detached home prices across the region increased 2.7 percent over the same period.
Sales of detached properties on the MLS® in January 2011 reached 793, an increase of 12.5 percent from the 705 detached sales recorded in January 2010, and a 171.6 percent increase from the 292 units sold in January 2009. The benchmark price for detached properties increased 2.7 percent from January 2010 to $810,045.