Stiff competition among buyers will continue to put upward pressure on the price of real estate this spring, Real Estate Board of Greater Vancouver president Darcy McLeod says. Multiple offer situations helped push the benchmark price for a detached property in Metro Vancouver last month to $1.05M (the benchmark price for all residential properties was $660,700, a 7.2% increase over last March). There are just over 12,000 properties available for sale at the moment, well below what's typical for this time of year and a 14.5% decline from last March, Darcy notes.
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