The trends set earlier this year have continued right through to the month of July. The scarcity of inventory and the out-of-province demand have continued to contribute to a very active market. In our opinion, this trend will continue as travel and tourism make BC more accessible in the coming months.
Like so many sectors in the market, townhouses are seeing more interest as well. They are selling in half the time. This year 87% of the townhouses listed have sold compared to 62% last year. This has also caused a price rise.
The average price is now 708,000 compared to 593000 last year. I believe townhouses play a key role in times like these. With single-family homes moving so fast, it is a viable option for many families. Townhouses are a viable option when looking to downsize.
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