| Monday, February 15, 2010 The Olympic effectby Ari Lahdekorpi on Mon, Feb, 15, 2010 11:46 AM The expected lull termed the olympic effect has not hit the market yet.The activity remains brisk in the office with both buyers and sellers.
Over the last 12 months the MLS housing price index has increased by 17 percent. The benchmark price for all residential properties in Greater Vancouver is now at $573,241 up from $489,007 last year at this time. The city is also seeing an increase in new listings. In January there was a total of 5,147 lisitngs. This is up by 39 % from a year ago in January..
If we do see a slow down due to the olympic factor, it may be a good time for motivated buyers to search for properties. The spring will most likely be a strong market if interest rates remain low as buyers may want to buy before the HST comes into effect his summer.
In a recent survey of "most live-able" cities in the world, Vancouver ranked as number one. The housing market here in Vancouver attests to the desire many have to plant roots in this city.
Canada has now moved into Gold medal territory...and the excitement in the streets of Vancouver continues to grow. |
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