All real estate markets a local, changing from community to community and even within communities. After a slow start to 2019, our traditional Spring market is in full bloom. Many indicators at the local level are up. Properties that are selling are spending less time on the market and sellers are not having to give away the farm in order to get sold. Properties are moving.
Click on the graphs below to see that the downward trend has, for the time being, stopped and prices are remaining even or up slightly over last month’s values.
Housing Price Index
The Housing Price Index (HPI), is a calculated value of what a typical property’s value would be on any given month. The Real Estate Board of Greater Vancouver has a complicated algorithm it uses to calculate these values, and it is the Board’s best indicator in the change in value over time and is not subject to changes caused by a single property sale as can the average selling price. Check out your city and property type below:
Maple Ridge, Pitt Meadows, Poco and Coquitlam
Langley, Mission, Abbotsford