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The following is a summary of stats released by the Real Estate Board of Greater Vancouver. Most of it is specific to detached houses on the Westside of Vancouver. 
Housing Price Index
September: $1,315,517
October: $1,279,528
November: $1,116,267
December: $1,165,007
January: $1,134.773
3-Month Average: $1,138,682
1-Year Change: -19.3%
3-Year Change: +13.7%
5-Year Change: +54.5% 
Number of Sales
September: 46
October: 52
November: 25
December: 56
January: 46
Number of New Listings
September: 314
October: 232
November: 128
December: 74
January: 195
Total Active Listings (includes condos)
September: 4314
October: 4241
November: 4112
December: 3424
January: 3230
Total Sales (Includes condos)
September: 323
October: 285
November:  185
December: 211
January: 189
The number of listings for sale is down for the 4th month in a row!  Sales for the month are down a tiny bit, but most of them were in the second half of the month.  Real estate sales always come to a crawl during Vancouver snow storms (ie the first 2 weeks of January)!  From being out in the trenches, I can tell you that sales are actually WAY up.  The stats will reflect that next month.
Prices are down a tiny bit since December, but still way up over November. The median pricing stats are actually way down (over 30% since December), but that just reflects a massive increase in the volume of entry level housing being sold.  The first-time buyers are back en masse!  Condos are flying off the shelves.  Multiple offers and sales over list price are becoming common, and well priced entry-level homes are selling in a matter of days. 
Prices are low -- relatively speaking, quite likely the lowest they have EVER been in Vancouver.  They're not going down any more, and you've only got 6-12 months before they start to shoot back up.  (We're already seeing people raising asking prices...)  And with interest rates the lowest in over 50 years, why WOULDN'T you be buying?


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Robin Hill, REALTOR®
Please accept my appreciation for the outstanding job you did on the sale of my friend’s property....


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                Vancouver, BC, V6M 3W5