The real estate statistics for January are in. There were 36 sales of detached housing. While this is down from both Dec 2021 and last January, it’s still a strong number and a sign of continuing high demand. The Benchmark Price – that is, the price of an average home in an average area – increased again 1.1% to $900,000. This is yet another all-time high for the Coast. With attached housing (condo’s and apartments), there were 9 sales. This is similar to December, but a full 50% off of January of 2021. The average Benchmark price for attached was $600,000, up again over the previous month. As for vacant land, there were 12 sales in January – similar to December, but well short of the 30 sales this time last year. The Benchmark price isn’t available for vacant land, but prices are still rising. How can prices rise while overall sales decrease? It’s the law of supply and demand. High demand coupled with low inventory means upward pressure on prices. Stay informed - Call Us FIRST!!