Port Moody Real Estate News

The summer market has cooled off and sales have decreased throughout July and August. An increase in inventory levels and slower sales are turning back towards a "Buyers Market".

Currently in all Port Moody condos and townhouses there are currently 285 active listings, and only 33 sales in July and first half of August.

Sellers- You must be the best priced or your place will NOT sell.

Buyers-lots ot choose from and more negotiating strength.

Some Buyers seem to be waiting to see what happens with the market. Will prices decrease, and how much will they come down? Always good to keep in mind, but watch for interest rate hikes as an increase in interest rates will more or less leave you with the same payments each month.