Not all real estate markets are equally suffering from the recession, according to Century 21.

In its recent study focused on finding the 21 hottest neighbourhoods, Richmond, Langley and Coal Harbour in downtown Vancouver were among the best real estate markets in Canada for realizing real estate price increases in the past year.

Richmond was ranked Canada's third hottest neighborhood. It recorded a 16% increase in its average real estate price between March and April 2009 and a 3% increase in average prices since April 2008.

The Township of Langley was the fourth hottest neighborhood with a 15% increase in average prices between March and April and a 12% increase since April 2008.

Vancouver's downtown West Side/Coal Harbour area was the sixth hottest neighborhood (15% increase between March and April and a 0.3% increase since April 2008).

Don Lawby, president of Century 21 Canada, said, "Although most markets have been impacted by the recession, some have neighborhoods in which prices are resilient and stronger today than a year ago."

The country's two hottest neighborhoods were Etobicoke (4% increase) and Pickering (7% increase), both in Metro Toronto.

In the Lower Mainland, in addition to Richmond, Langley and Coal Harbour, Kitsilano, Port Moody, the Dear Lake area in Burnaby, Abbotsford, Mission and Port Coquitlam were among the best performing neighbourhoods between March and April.

The B.C. Real Estate Association reported Thursday that residential sales rose 3% to 8,270 units in May. It was the first year-over-year increase since December 2007.

May also posted the highest number of residential sales since April 2008 and is the fourth consecutive month of rising home sales.

Overall, however, the sales volume of multiple listing service residential sales is down 31% to $11.7 billion over the same period last year. A total of 26,359 units were sold in the first five months of 2009, down 26% from 2008.

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