Spring 2004 Market Update

No surprises here for any of you locals!

In 2003 the Real Estate Board of Greater Vancouver reported the highest number of transactions of any year on record. The most notable effect on values is in the condominium market. In the City of Vancouver (both East and West), the benchmark price for an apartment in January 2004 was up by exactly 50% from the same period 3 years earlier. Assuming interest rates remain at record lows, more of the same is anticipated for 2004.