The latest reports for the local area real estate market shows that average prices are plummeting, and the data is showing signs of much lower volume for this time of year.
With an oversupply of inventory and sluggish days on market, coupled with high interest rates, it is a buyers market with deals to be had. Current home owners looking to sell should be considering their homes’ current value and determing if it is better to wait out this downward trend in home prices.
Local area real estate prices are on the rise, and that data is showing that signs of a retreat or stablization does not appear to be near.
With a drop in inventory and houses being snatched up almost as soon as they are listed buyers can expect to be paying more for homes and need to be on their toes and act fast when they see a home they are interested in.
With this quick upward pressure on price, with no end it sight, we could see ourselves in a bubble going forward.
This past months report on the local area real estate market shows that average prices are remaining stable, and that data is showing signs of typical sales volume for this time of year.
With a steady inventory and days on market, coupled with balanced sales, sellers can expect an average days on market of 32. However home owners should always be considering their homes’ competitive advantages to stand out to buyers in this market.
Average prices have continued to keep stable. Even looking through the past few years of increased inventory, market prices remain competitive.
THIS HOME IS NOT FOR SALE - IT IS A SAMPLE LISTING. First Shaughnessy Treasure! Substantially renovated with distinctive quality and taste, this magnificent home offers over 7,100 sqft of elegant living area in a corner lot. Entertainment sized living room and dining room with crownmoulding, oak wood floor and iron wood
THIS HOME IS NOT FOR SALE - IT IS A SAMPLE LISTING. 2745 square foot 5 bedroom, 3.5 bathroom house located in quiet neighborhood. Beautiful kitchen with generous use of white cabinetry and a large glass door pantry. The spacious great room/living room features a fireplace and a built-in entertainment unit.
This is a sample listing - Not for sale from this site. Enjoy
gorgeous panorama views from Mount Baker to Vancouver Island from this
exc eptional 7,000 sq ft mansion. Perched high on the hill in
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THIS HOME IS NOT FOR SALE - IT IS A SAMPLE LISTING. Sit'd on W
Vancouver's most sought-after address & walking distance
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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.