The market for 2011 slowed substantially since March due to the previously mentioned factors. As of mid March you can no longer have a CMHC insured mortgage with a 35 year term, it is now 30 years maximum. We had a election which always causes a hesitation in the market and last but not least, now we have people waiting to see the results of the HST vote. These factors may coupled with summer may dampen our market through until September.

The number of sales decreased 20.9% in April which is likely a result of 3 factors. As of mid March you can no longer have a CMHC insured mortgage with a 35 year term, it is now 30 years maximum. We had a election which always causes a hesitation in the market and last but not least, now we have people waiting to see the results of the HST vote. There was a increase of 4.4% in the sale price of single family homes with the average sale price of a single family home at $1,204,587. This considers all sales from West Vancouver to Maple Ridge. Townhouses had an average selling price of $573,318 which is almost identical to March and Condominiums average price was $483,424 which is increase of 3.7% over March . Buyers had more choice as the number of units available increased in April by 8.2% to 14,187.