January 9, 2020
Golden Nuggets of December 2019
We know that real estate statistics can be overwhelming and exhaustive. So much can be going on that it can be hard to take away a single meaning from the data. Fear not, as it’s time that we outline the “golden nugget” of the month for each of the most popular areas that we build in. The golden nugget is something significant about the month, either good or dramatically bad.
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Ready to see last month’s golden nuggets?
Sales in 2019 for detached new construction homes went from 6 to 4 (November to December). On the contrary, the past three years showed an increase: 1 to 8 (2018), 5 to 13 (2017) and 2 to 4 (2017). While the drop isn’t too dramatic, it is interesting that this happened nonetheless.
Inventory in Burnaby for new construction detached homes actually increased, relative to December 2018, where it was at only 13 listings. The interesting fact is that it actually returned back to the levels it was at for December 2017, which was 21 listings. Where will it head from here?
While Vancouver has had a Median Sales Price higher than other areas in the Greater Vancouver Region, that doesn’t mean it hasn’t had its share of ups and downs. January 2017 was the lowest it dropped over the past few year with a Median Sales Price of $1,774,000. Otherwise than that, it never really dropped below 2.1 million. So, we guess you could say it’s currently at its low point and therefore can be expected to improve for the future months.
