Owen Bigland blogs about how many people's perceptions regarding condo prices in downtown Vancouver are hazy due to the skyrocketing prices of detached homes in certain areas. If you were to ask people on the street what they thought the price of a downtown Vancouver condo had done over the past  3, 4 or 5 years they would probably say it's way up. when in reality if you drew a line from Jan 2008 to Jan 2012  that line would be pretty much flat.

 

It's been a fairly balanced and stable market for condos in Downtown Vancouver the past 4 years with very little price appreciation unless you bought in a tiny window around Nov 08 to Mar 09.  We had a price drop in Fall of 2008 of approx 15%  on average then came out of it quickly in Spring 09 with an equal  gain of 15% so pretty much right back to where we were before the correction. Since the fall of 09 prices have been pretty much flat. It's the price of detached properties especially on the Vancouver west side and Richmond which have shot up dramatically since Jan 2009 that make people think real estate prices everywhere have done the same. Downtown Vancouver condos have not shared that same price jump that certain detached areas have.