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Record low inventory levels in the Vancouver condo market are one of the key drivers for the condo prices staying firm or in some cases continuing to rise. Yes, you heard it here first. It’s Feb 24, 2017 and I’m starting to see condo prices rising again in the starter level price range in Richmond (priced under $350K) as well as 1 and 2 bed condos in Vancouver, priced under $900K. The 2 main drivers of this are ultra low interest rates, and low inventory levels. There are simply more buyers than units for sale. I’m finding that the main reason for the low inventory is that many sellers don’t want to be buyers. They’re afraid of getting an accepted offer on their unit then being under the gun to buy a new condo or townhouse before their sale completes.