The statistics for October are in. There were 63 sales of detached homes. That’s down from September’s total of 70 and last October’s total of 104. The Benchmark Price – that is, the price of an average home in an average area – rose 1.7% to $882,900, representing yet another all-time high for detached homes on the Coast. Year-to-date sales total 722, a large increase over the 627 sales last year. Apartments and townhome sales thus far this year total 225, well up from the 163 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 October, but the 182 sales year-to-date is significantly up from 121 this time last year. Land prices appear to be holding steady at the moment. While the supply is down, we feel rising construction costs may be capping any immediate price increases. Are you thinking of selling? There’s never been a better time to market your home. Call US FIRST!
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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.