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.
“There was a healthy balance between the number of home buyers and sellers in our market in January, but there’s always variation in activity from region to region,” said Jake Moldowan, president of the Real Estate Board of Greater Vancouver (REBGV). "We’re seeing strong sellers’ market conditions in areas like Richmond and the west side of Vancouver.”
Looking across the region, the REBGV reports that residential property sales in Greater Vancouver reached 1,819 on the MLS® in January 2011. This represents a 4.2 percent decline compared to the 1,899 sales recorded in December 2010, a decrease of 5.4 percent compared to the 1,923 sales in January 2010 and a 138.7 percent increase from the 762 home sales in January 2009.