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A buyer's market in Vancouver still no bargain
Continue to the storyAccording to The Real Estate Board of Greater Vancouver, Canada's most expensive market is in "a buyer's phase," but the cost of an average detached home is still $305,878 higher than the national average. The Canadian Real Estate Association lists the average price in May 2008 for a property in Canada as $318, 761, where houses in Vancouver are listed at an average of $624,639. According to the numbers from June 2008 released by REBGV, a typical detached residential property in Greater Vancouver sells for $765,654. That's a change of seven per cent over one year and 89.5 per cent over five years. A typical apartment will cost $388,722, a change of 7.8 per cent over one year and 105.2% over five years.