Port Moody Living
"City of the Arts" - Located at the head of Burrard Inlet, this vibrant city is rich in history and modern development. Steps from seaside parks, mountain trails and lakes, Port Moody is a nature lovers paradise.
Port Moody Real Estate News
Tuesday, July 17, 2012
July 2012 Market Update
Even with low interest rates persisting, the summer market has officially started. Sales in Port Moody for the month of June were down 47.7% compared to June 2011. So far July’s stats seem similar, with buyers not rushing to purchase. Median prices for June's sales were up 13.7% in 2011 but have took a hit this year coming down 10%. A look at the local inventory shows, 153 detached homes, 77 townhomes, 166 condo listings available. Since June 1, 2012 there were 12 detached sales, 13 townhouse sales, and 21 condo sales. These conditions signal an earlier shift into this summers "Buyers Market". Quality properties are selling in the area, although the importance of being properly priced is essential in these market conditions.
If you would like more insight into the local housing market please stop by our Suter Brook office, give us a call, or send us a message online.