The supply of homes continues to increase across Metro Vancouver, but the demand has gone down. The housing market in September was below the typical levels for this time of year. The sales volume for houses decreased by more than 50%, with the average sales price also seeing a dip. One of the sold homes was newly listed in September, selling in 10 days, and this was over asking. Of the 3 homes sold, two were over asking.
There is more selection of detached homes for you to choose from. The picking is all yours. Take your time and find the home that works for you. Since spring, listing totals have risen to levels we haven’t seen in quite a while. Whether it’s a detached house, condo, or even townhouse, there’s plenty to choose from. Prices are at their best.
Attached homes are the hot thing on the market right now. Almost half of the attached homes sold in September were at asking price or higher. Of the 12 homes, 9 were above the government assessed value. Unlike with detached houses, there’s still some upward pressure for prices in Kits.
Information taken October 3, 2018 from REBGV and MLS by Nick Chen PREC* deemed accurate from the respective sources. Nick Chen PREC* is the provider of the data and analysis to the writer for the purposes of creating an informative article providing informative publicly available information in a condensed manner. All data is presented to show a snap stat of the real estate market at the given time, further detail requires in-depth consultation and appropriate disclosures with a licensed real estate professional.
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