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March has seen an added 7004 listings to the Multiple Listing Service (MLS) in Greater Vancouver. That's up 60% from last year this time.

Average prices have also reached a high of $584,435 on all property types. This value is up 20% from last year and 3% above last year's peak.
 
Of course low interest rates have fueled our local market and the increase in prices always encourages people to sell - "We were expecting to see listings increase," Robyn Adamache, senior analyst with Canada Mortgage and Housing Corp., said in an interview.

"Certainly any time you see prices rising is generally when you see more listings coming on line."

The increase has exceeded expectations of the Canada Mortgage and Housing Corp.

The market is expected to be pretty well balanced with supply controlling the rising prices. Total inventory of unsold homes in Greater Vancouver is 13,538 in March closing in on the record of 20,000 available in fall 2008.

Alternatively, realtors posted sales of 3,137 in March - 39% above March/09. Detached homes were up the most in the Greater Vancouver region with 1,336 sales, a 49-per-cent increase from March a year ago, averaging $800,341. That average is up 23% from last year but down 0.6% from February/10.

Source - The Vancouver Sun