REBGV reports increased housing demand in February
Between November 2010 and February 2011, the MLSLink® Housing Price Index (HPI) benchmark price of a detached home in Richmond increased $190,739 to $1,099,679; in Vancouver West, detached home prices increased $222,185 to $1,850,072. In comparison, detached home prices across the region increased $51,762 between November 2010 and February 2011 to $848,645.
Up $222,000 since November 2010. I don't know what y'all are smokin' . . .
Sellers showed up to the party too. More new listings than last year and higher total listings.
It's unfortunate they don't break down the number of sales by area. If the entire extra block of sales were in Van West and Richmond, that would be a different situation than the sales being spread out evenly. Oddly, the HPI has not yet been published, nor do they mention the overall HPI number on the report. I'll update charts when that comes out.