The statistics for November are in. There were 55 sales of detached homes. That’s down from October’s total of 63 and last November’s total of 83. The Benchmark Price – that is, the price of an average home in an average area – declined 2.2% to $863,700, marking the first such decrease since July. Year-to-date sales total 777, a large increase over the 710 sales last year. Apartments and townhome sales thus far this year total 249, well up from the 186 sales this time last year. With the increasing popularity of attached homes and the decreased supply, we expect prices to rise. Land sales remained relatively steady in November, but the 193 sales year-to-date is significantly up from 143 this time last year. In spite of the decrease in supply, the price of vacant lots appears to be holding steady at the moment. We feel this may be due to uncertainty over rising construction costs. Are you thinking of selling? There’s never been a better time to market your home. Call US FIRST!

Click here to view full report including the latest sales and listing stats

Read full post
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.