Real estate in the Metro Vancouver area has had quite a ride over the last 10 years.  The Real Estate Board of Greater Vancouver has put out a video summarizing the Metro Vancouver real estate market from 2000 to 2010.

 

Some of the highlights are:

 

2003, 2005, 2007 recorded the most number of properties sold

 

 

In 2000, the buyers favored detached homes over condos.  However, in 2004, more condos were sold compared to detached homes and that trend has continued into 2010 and will continue into the future.

 

 

 

 

Detached home prices increased 115% from $345,000 in 2001 to $742,000 in 2008

 

Condo prices increased 143% from $155,000 to $378,000 in 2008

 

Our market is 2008 was affected by the global down turn.  Compared to the US market the effect of the down turn was short-lived.  During this time our real estate prices dropped about 18%.  By the end of 2009 the number of sales started increasing and by the Spring of 2010 home prices passed the pre-recession high mark of prices.

 

 

 

 

 

 

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