Maple Ridge is a fast growing community that allows the residents the feel of a small town while having the amenities of a big city. With natural beauty and a high quality of life, Maple Ridge is a magnet for many new residents. The real estate market in Maple Ridge is soft as it is in other locations. There are currently 589 homes for sale but more than half, 309, have been on the market for over three months. However, real estate prices are not cheap in this part of the world.



 

The median price for a detached home is almost $394,000. For townhouses and condominiums the price is considerably lower. The median price for a townhouse is $216,000 while condominiums average $284,000. Despite a large inventory of houses on the market, there are new developments under construction. In the renters market, the median asking price for a two bedroom apartment is $768. The rental market in Maple Ridge currently has a vacancy rate of only .5% making it one of the lowest rates in Canada. In terms of price, their rental fees are among the highest in the country making the area an expensive place to rent and live.
 

Despite the economy, Maple Ridge continues to grow. Forecasters predict that the area will almost double in the number of detached single homes in the next twenty years and multi family homes will increase also. The real estate board reports that home sales thru August of 2009 have jumped 4.9% from last year but the prices have dropped 1.1% so homes are moving albeit at a slightly lower price.