Two distinct markets have emerged this summer. The detached home market has seen demand lease back to more typical levels while competition for condominiums is creating multiple offer scenarios and putting upward pressure on prices for that property type.
Home buyers have more selection to choose from in the detached market today while condominium listings are near an all-time low on the MLS®. Detached home listings have increased every month this year, while the number of condominiums for sale has decreased each month since February.
Market conditions will vary today depending on area and property type. It’s important to work with your local REALTOR® to help you understand the trends that are occurring in your community.
For more in-depth information on June's market, please click below:
Greater Vancouver: REBGV June 2017 Stats Package
Fraser Valley: FVREB June 2017 Stats Package