BRITISH COLUMBIA

2006 was another strong year for residential real estate in B.C. as a whole. According to the Vancouver Sun (B.C. Assessment) the total value of B.C. real estate increased by 23%. Vernon, Salmon Arm and surrounding communities increased by 30%, Anmore increased by 33%.

GREATER VANCOUVER

Greater Vancouver was also very strong with prices increasing by an average of 13.5% for detached, 16.6% for attached and 17% for apartments. Total number of units sold decreased by 12.4% from 2005 and 2.1% from 2004, both record breaking years. The total units sold was over 35,000 for Greater Vancouver which is still a huge volume. The benchmark price for a detached home in Greater Vancouver is $647,000. It is extremely important to keep in mind the supply/demand situation. The total number of listings available is down 30% from a historical average.

WEST VANCOUVER

West Vancouver continues to be the most expensive municipality in Greater Vancouver with benchmark prices reaching $1,235,000 at the end of December 2006. We currently have 276 listings in West Vancouver down from an average of over 400, we are currently down by 33%. Our total sales for 2006 was approximately 700, an average historical year is 750. It is easy to understand how the market continues to be strong, and shall continue when we have a dramatic supply shortage, great interest rates, strong economy, and a bright future. I believe we shall see West Vancouver continue to increase in value with the high end continuing to amaze. In 2006 we had 24 sales over $4,000,000. Waterfront lots are over $5,000,000.