Market Update

Posted by Ken Eddy on Monday, July 4th, 2016 at 12:55pm.

In the trenches...

Overall year-to-date sales declined across all areas of the city. However we continue to to see detached sales growth in the City Centre, West and North West areas of the city. I noticed this first hand with a property we listed in Cougar Ridge in mid-June for $549,900. It generated 2 offers and conditionally sold in 2 days. What has been helpful in mitigating further price declines has been the fact that we have not seen substantial city-wide inventory gains. Apartments and row house sales continue to have the largest decline in sales volume. The type of market conditions being experienced continues to depend on what type of property it is and what price range it is in. As always, if you are curious about what is happening with the market in general, or in your specific neighbourhood, please call or email us anytime. We'd love to chat with you about it.

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