Can you guess which of the three cities saw a Median Sales Price last month that is LESS than it was 4 years ago for detached homes?
We had to do a double-take ourselves to make sure our eyes weren’t playing tricks on us.
Typical happenings here in Burnaby, as noted across the Metro Vancouver Area, as published from the REBGV. Prices are slightly down from last month, down from last year as well. Inventory levels are also both down from last month and last year. The silver lining for Burnaby though is that sales are slightly up from both last year and last month. Will this trend continue? I guess we shall see!
This city saw some positive growth from last month, but the Median Sales Price is still down from last year. Inventory is also down. Needless to say, sales are trending in the positive direction, from last year and last month. So far, both North Vancouver and Burnaby are looking to be good investments for purchases - if you're considering buying!
Vancouver saw the most drops across the board. The sales price was down from last month, last year... and EVEN 4 YEARS AGO! How could levels have dropped below 2015 for September?! Our minds are blown too! Inventory is also down for Vancouver but sales are also trending upwards.
Overall, we are seeing some positive hope in the marketplace. Although there is downward pressure on the pricing right now, we are seeing buyers submerge from limbo-land and into a more serious buyer mode!
Questions? Feel free to give us a call at 604.420.5220.
