August 8, 2019
Feels like 2016!
WHAT’S ON THE MENU FOR DISCUSSION?
A main dish of the year 2019 with a side of 2016 pricing!
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It’s not often you see pricing returning to levels from years ago - but it has officially happened! We know this isn’t the prettiest looking post we have made - although some may argue it’s the most delicious - especially if you’re looking to get into the market for the first time and buy a parcel of land or thought you missed the market.
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Check out the graph for detached homes across the Vancouver area, depicting the median sales price - aka MSP. If you notice, the peak was achieved early in 2017 and had been declining ever-so-slowly since. If you line up where we are now and take it back a few years… you’ll see that that MSP has returned to the same level as it was in early 2016.
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Over the course of the years of data we are able to obtain since 2005, THIS HAS NEVER HAPPENED! There was a slight dip in the pricing in 2012, but things had only continued to climb thereafter (until 2017).
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So, what does this mean for you and your current home building goals?
Give us a call to find out. 604.420.5220.
