Attached or Detached – What’s your market?
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.
Buyers Market
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.
Sellers Market
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.