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Vancouver's high-end residential real estate market is showing positive momentum leading into the second half of the year, according to the latest report released today by Sotheby's International Realty Canada. This is unexpected, because there has been talk of a slowing condo market, in particular a slow down in the two biggest and wealthiest of the English Speaknig cities, Vancouver and Toronto.
Asian Office Space | Paya Lebar Square SingaporeAccording to the Top-Tier Real Estate Report, which analyzes year-over-year data for single family, attached and condominium properties over $1 million, Vancouver saw 1,239 sales over $1 million between January 1 and June 30, 2013, representing a 57% increase over the last six months of 2012 and a slight 6% decline in sales compared to the same period last year. Compared to July 1 to December 31, 2012, unit sales of homes between $1-2 million saw a 47% increase. Sales of homes from over $2 million saw the greatest increase: compared to the last half of 2012, home sales of $2-4 million rose by 78% while home sales over $4 million increased by nearly 70%.
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