August 8, 2019

Feels like 2016!

0808 2016


A main dish of the year 2019 with a side of 2016 pricing!
It’s not often you see pricing returning to levels from years ago - but it has officially happened! We know this isn’t the prettiest looking post we have made - although some may argue it’s the most delicious - especially if you’re looking to get into the market for the first time and buy a parcel of land or thought you missed the market.
Screen Shot 2019 08 08 at 5.07.18 PM
Check out the graph for detached homes across the Vancouver area, depicting the median sales price - aka MSP. If you notice, the peak was achieved early in 2017 and had been declining ever-so-slowly since. If you line up where we are now and take it back a few years… you’ll see that that MSP has returned to the same level as it was in early 2016.
Over the course of the years of data we are able to obtain since 2005, THIS HAS NEVER HAPPENED! There was a slight dip in the pricing in 2012, but things had only continued to climb thereafter (until 2017).
So, what does this mean for you and your current home building goals?
Give us a call to find out. 604.420.5220.
Tag Cloud