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May 2018 Metro Vancouver Housing Market Update

The Metro Vancouver housing market is seeing Buyers that are less active now – it’s Sellers that are in the market bringing more supply to the market.  Although supply is increasing, it has not caught up to the demand.  Overall, it is still considered a Sellers market.  Condos and townhomes remain firmly in a sellers market, however, single family homes are experiencing downward pressure nearing a buyers market.  As a result condos and townhomes prices trend upwards at 16%/20% over last year, while single family detached homes increased 2% over last year.  For home sellers to be successful in todays market, it is important to price their property competitively.

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