Here is some more information and some very interesting MLS numbers and charts posted by another very well established local realtor. I read this guy's blog regularly, mostly because it has valid information and he very rarely triggers my BS radar. He seems to be a sincere straight-shooter who avoids industry "spin".
It's worth following the link for the full post, but here's a teaser:
"In July 2016 the average price for a Vancouver detached was recorded at $1,764,682. In less than a month (post Tax proclamation), the average price gain over the year of approximately $300,000 has been wiped out. August 2016`s average price for a detached home flat lined at $1,470,265 to settle below August 2015`s average price of $1,474,475."
In fond memory of Taipan, a model of modesty, decency, dignity and tolerance. Long may we all prosper from the tremendous legacy of worldly wisdom and specialized real estate knowledge which he left in the "Arguments" thread.