Newsletter

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

Detached Homes

https://statscentre.rebgv.org/infoserv/s-v1/EQai-Mdl

Apartments

https://statscentre.rebgv.org/infoserv/s-v1/EQaG-s4p

Townhouses

https://statscentre.rebgv.org/infoserv/s-v1/EQMf-f8c

Langley, Mission, Abbotsford

Detached Homes

https://statscentre.rebgv.org/infoserv/s-v1/EQLp-0Rq

Apartments

https://statscentre.rebgv.org/infoserv/s-v1/EQLV-m8c

Townhouses

https://statscentre.rebgv.org/infoserv/s-v1/EQaQ-au5

You can click on the links below to check out and compare what has been happening with prices in the six areas mentioned.  I have done comparative graphs for detached homes, townhouses and apartments.

The graphs are for the Housing Price Index (HPI) which is a calculated value for a typical home in that area.  It is best used to track the changes in price and the overall trend in the market.  Use your mouse to check out prices for different months!

Mostly, housing prices continue to trend lower.  Langley, however, is bucking the trend with slight upticks in the market over the past 3 months, in all three types of housing.

Again, with the price gaps narrowing, it is a great time to move up in the market!  Call me if you want to know the value of your property and/or need assistance determining what you can afford!

Maple Ridge, Pitt Meadows, Port Coquitlam, Coquitlam

https://statscentre.rebgv.org/infoserv/s-v1/FaQg-2W4    Detached

https://statscentre.rebgv.org/infoserv/s-v1/FabP-Hys    Townhouses

https://statscentre.rebgv.org/infoserv/s-v1/Fabu-S1R   Apartments

Langley, Mission

https://statscentre.rebgv.org/infoserv/s-v1/Fabq-Aa5    Detached

https://statscentre.rebgv.org/infoserv/s-v1/Faby-Zgj     Townhouses

https://statscentre.rebgv.org/infoserv/s-v1/Fabe-S8r    Apartments

Contrary to what might be depicted on television or what many real estate agents think, when a contract is executed is not the time to begin celebrating. It marks the beginning of an uncertain process to a potential closing. There are almost always inspections to go through as well as an appraisal, if the buyer is getting financing. Much can go wrong with so many hands in the pot, and the fear of the unknown is real. Murphy’s Law is alive and well in real estate, and if the other shoe can drop, it will find a way.

The best way to increase your chance as a seller of crossing the finish line is to have a prelisting inspection done before ever coming on the market. Here are seven reasons why: Continue reading →