One thing everyone in the lower mainland is talking about is the Real Estate market. Being a realtor I get asked on a daily basis how the market is doing. during the month of April we had the interest rates go up which had some effect on the market.
In the Maple Ridge detached market inventory is up 29% from March but sales and average sale prices are down. Sales are down 38% which is why we are seeing some price reductions. The average sale price is down from $1,488,000 in March to $1,360,000 in April. The most popular product on the market is 3-4 bedroom homes.
One of the only markets that is still going up for average sale price is the Maple Ridge attached market. Maple Ridge condo and townhouse inventory is up 47% but sales are down 37% from March. The sale prices are up 10% but over all there is a lot more inventory than sales in April. A lot of the listings priced from $800,000 to $1,000,000 are sitting and some are even seeing price reductions. The most popular inventory being 3 bedroom units.
For a more detailed breakdown or if you have questions about the Maple Ridge market or any others contact Kara at 604-341-9937 or [email protected]