the NOW tREnd

(December 06, 2016)

#vanre
My previous post indicates that if you bought here 3 years ago, the value of your property has gone up…way up. But what is the “now” trend”?

North Vancouver: Approximately 1/3 the amount of properties are selling compared to Spring 2016*.
60 SOLD per month Autumn 2016 vs. 180 SOLD per month Spring 2016*.

West Vancouver: Approximately 1/5 the amount of properties are selling compared to Spring 2016*.
25 SOLD per month Autumn 2016 vs. 130 SOLD per month Spring 2016*.

Downtown Vancouver
: Approximately 1/2 the amount of properties are selling compared to Spring 2016*.
175 SOLD per month Autumn 2016 vs. 350 SOLD per month Spring 2016*.

So …sales are down from spring, no big surprise there.
Autumn month to month volume is steady & consistent…NOT tanking!

Are prices are down?…yes.
Are certain market segments hot?...yes.
Are there buying opportunities?...yes.

Brand new built luxury houses are the slowest market segment in our subject areas.

Sorry naysayers & fence sitters, the market has not imploded!

*Based on REBGV data and approximated to illustrate trends.

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