Here is the news from the Real Estate Board of Vancouver, B.C. March 2, 2007.

"Despite an increase in active listings, we didn't see a corresponding surge in new listings last month."

"Many agents are reporting multiple-offer situations, though not at the same fast pace as we experienced in 2005. Unsurprisingly, the average days a property spent on market jumped to 49 days in February 2007 versus 58 days in January 2007. All signs are pointing towards a busy spring housing market."

"We also saw a lot of activity in the condo market, particularly in Squamish, North Vancouver, South Delta and Van- couver West. This was due in part to resales from completed developments, but also due to more and more consumers realizing that apartment properties are great lifestyle alternatives to detached homes and also great real estate investments."

You can download the whole Vancouver real estate news release here in PDF format.