Despite all the talk in the news of the market slowing down, the detached market has only seen a 5% drop in HPI price since it’s high this year of $1,537,300, putting the current HPI price at $1,456,700. The sales to active ratio has seen the bigger change, currently at 12% from 42% in May and the year’s high of 50% in March. The sales to active ratio is on a slight upward swing since September (when it was 9%) so it’ll be interest to see where the next month takes us.
Financing is becoming tougher for new developments, so lot sales aren’t moving as quickly, but solid houses in family oriented neighbourhoods are still in demand.
HPI Price: Take a look at the HPI price difference for condos in a few different neighbourhoods in East Van…
Don’t hesitate to contact us if you are starting to think about sale of your home in East Vancouver – with the detached house market slowing down, you have to ensure that your home shows it’s best, is marketed well and has a good negotiator behind it to ensure your sale is a success.