The chart below tracks the monthly sales of single family homes in West Vancouver and clearly indicates how hot the market was in the Spring of 2011. This was due to a number of factors, but one was the impending tightening of the mortgage rules acting as a catalyst for first time buyers to buy a home and this created a lot of activity as the market was suddenly full of second, third and fourth time buyers. There was also an indication of off-shore buyers, but this is a hard statistic to track.
Here is a chart of the sales of single family homes in West Vancouver by month:
Here is a chart comparing 2011 single family home sales to 2010 single family home sales. You can see the monthly and seasonal trends are similar, but the volume in 2011 has been astonishing.