Fully one third of the total condo and townhouse listings in Kits have reduced their prices in the last 30 days but prices have not reached levels sufficient to attract a large number of buyers as only 19.5% of the listings sold.
Buyer’s linger with indecision as they wait for both local and US political out comes and the financial meltdown to settle into a positive direction. Bank prime rates are favorable with an expected reduction in the BOC rate today.
Analysis is that the market will continue its slow decline for the balance of this year. Depending on a slow financial revival it may continue until at least mid next year.
Data courtesy of REBGV. Statistical numbers provided may vary due to dynamic posting by the REBGV. The enclosed information while deemed to be correct is not guaranteed and is provided by Larry Yatkowsky, Realtor®, YatterMatters.com. Further information available by calling 604-657-6236 or emailing lmy@Yattermatters.com.
Last modified: October 21, 2008
As a Kits person looking to buy a bigger place in Kits, this analysis is super useful. Thanks for always posting these!
Great to see you here Larry. These are some nice looking graphs!