A condominium development draws interest in Vancouver yesterday. CREDIT: Jason Payne, The Province

Just when you thought the white-hot housing market had peaked, the latest Greater Vancouver real-estate figures have scaled new heights.

Last month’s sales are the highest since April 1991, with condo buyers leading the charge.

While total sales jumped by 32 per cent from last year to 4,371 properties sold, condo sales skyrocketed to an all-time high — up 60 per cent from last year with almost 2,000 units sold in March.

The statistics come as no surprise to Firenze sales manager Kerry Lum.

More than half of the suites in the development’s three new buildings at International Village in east Vancouver were sold in advance of the opening of its sales office March 27. As of yesterday, 340 of the 457 suites were sold.

Lum said it’s been one of the strongest months he’s seen in the past 14 years.

“We haven’t had a lot of people lining up in the past for condos,” he said.

“Now we’re seeing people wanting a piece of the action. We’ve had tremendous response. I was doing the presentations 10 at a time — it was just constant for the whole day.”

Some of the interest has been from Americans and baby boomers moving to the city from the suburbs, he said.

But Real Estate Board of Greater Vancouver president Andrew Peck said that, for the most part, young, first-time home buyers wanting to stay in the urban core were the demographic propelling condo sales.

As space for developments dries up downtown, condo fever seems to be migrating to the suburbs.

In Port Moody, buyers camped over-night to be the first to purchase suites in the Sentinel development when its presales office opened Saturday.

“It’s unusual here,” said Bev Currie of Sutton Group West Coast Realty, who lined up Thursday for clients, musing that the suburban condo market was becoming like Vancouver’s, where days-long lineups are not uncommon.

MARCH HOUSE PRICES

MEDIAN SELLING PRICES Detached homes Attached homes Apartments

Mar. 2004 Mar. 2003 % change Mar. 2004 Mar. 2003 % change Mar. 2004 Mar. 2003 % change

Abbotsford $266,000 $227,000 17.2% $160,000 $153,000 4.6% $105,000 $87,900 19.5%

Burnaby $445,000 $370,000 20.27% $261,097 $221,900 17.66% $180,000 $155,000 16.13%

Coquitlam $401,000 $339,000 18.29% $251,900 $257,500 -2.17% $158,000 $128,000 23.44%

Delta South $412,000 $350,100 17.68% n/a n/a n/a $194,000 $163,000 19.02%

Delta North $294,000 $265,000 10.9% $175,000 $141,500 23.7% $108,000 $59,900 80.3%

Langley $336,000 $288,500 16.5% $201,500 $171,000 17.8% $133,000 $117,500 13.2%

Maple Ridge – Pitt Meadows $315,000 $272,000 15.81% $188,000 $157,500 19.37% $123,000 $102,500 20.00%

Mission $255,000 $180,000 41.7% $143,500 $137,000 4.7% $95,000 $89,000 6.7%

New Westminster $332,000 $274,999 20.73% n/a n/a n/a $159,900 $148,000 8.04%

North Vancouver $569,000 $475,000 19.79% $374,500 $294,000 27.38% $225,000 $166,000 35.54%

Port Coquitlam $337,000 $285,000 18.25% $255,000 $195,000 30.77% $143,000 $109,500 30.59%

Port Moody – Belcarra $557,500 $381,000 46.33% $249,500 n/a n/a $169,500 n/a n/a

Richmond $433,800 $357,820 21.23% $290,000 $246,000 17.89% $183,000 $140,000 30.71%

Squamish $315,000 $283,000 11.31% n/a n/a n/a n/a n/a n/a

Sunshine Coast $242,500 $188,000 28.99% n/a n/a n/a n/a n/a n/a

Surrey $338,000 $290,000 16.6% $215,000 $189,900 13.2% $125,000 $98,500 26.9%

Vancouver East $414,000 $334,000 23.95% $279,900 $255,000 9.76% $178,000 $146,000 21.92%

Vancouver West $799,000 $665,000 20.15% $374,900 $328,025 14.29% $261,000 $236,100 10.55%

West Vancouver – Howe Sound $875,000 $650,000 34.62% n/a n/a n/a $339,000 n/a n/a

White Rock $462,000 $395,000 17.0% $275,041 $233,000 18.0% $185,000 $147,000 25.9%

Sources: Real Estate Board of Greater Vancouver, Fraser Valley Real Estate Board

© The Vancouver Province 2004