Get the facts!

Real Estate Agent with RE/MAX Little Oak

I recently read an Vancouver Sun article that proclaimed an area of Langley as the Lower Mainland's hottest real-estate neighbourhood, the article went on to claim an average price increase of 12%  (April 2009 vs. April 2008).  Those are astounding numbers, particularly in this market.

A closer look at the actual sales statistics for the area reveals that apartment, townhouse & house prices all declined 9-10% during the same time period.  So what gives?

In April of this year five homes with acreage sold for an average price above $850,000, in 2008 no homes with acreage sold.  With a sample size of 59 sales these higher priced sales had a significant impact on the average selling price for the area.

When you are buying or selling it is important that you have all the facts.

Paul Penner

RE/MAX Little Oak Realty

Abbotsford, BC

Comments (2)

Bob Dunn
Sutton Group West Coast Realty - Abbotsford, BC

I took a statistics course at university where we were given a little book entitled, Figures Lie and Lairs Figure.  Aapparently this applies to the media as well.

Jun 27, 2009 05:14 PM
Wendy Casey
A-List Home Staging & Decor - Surrey, BC

Good point, Paul. Statistics can mean anything you want, as long as you 'work' them the right way.

Jul 23, 2009 07:03 AM