Acreage Prices in BC for January 2018
Acreage Home Prices
We have seen 2 straight years of acreage listing price increases on acreage homes in BC The Real Estate Board of Greater Vancouver stated the following "After reaching record levels in 2015 and 2016, Lower Mainland & Fraser Valley home sales returned to more historically normal levels in 2017. Home listings, on the other hand, came in several thousand units below typical activity".
In fact it turns out that Last year’s sales total was, 9.7 per cent above the 10-year sales average. Acreage listings on the MLS throughout BC up until the new year dropped off dramatically. As of the date of this article only 110 acreage listings are available for sale in the entire Lower-mainland & Fraser Valley!
In a interview with the 1 Acre Plus Team it was said that "a large portion of the mls listings still showing up on the system are in fact under contract, making inventory levels even lower than they appear". With Strong economic growth, low interest rates, declining unemployment in BC, paired with increasing wages and a growing population all helped boost BC acreage home buyer demand throughout our entire region last year.
As we move into the new year of 2018, there are many factors that could alter BC's acreage market. While we look into the new year with very low inventory, we strive to guide our buyers & sellers understand how changing interest rates and the federal government’s new mortgage qualifications could affect their purchasing power. As of right now prices are still at record highs and show no signs of lowering, right now the amount of buyers is far greater than existing listings.
If you are interested in how much current inventory is on the market in BC you can find that information & up to the minute Market Stats by clicking on the link.
The median list price in December for acreage homes in BC is up between 17.2 - 20%.
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Visit our website to search for all acreage homes or to be notified when acreage homes come on the market.
To find out what your acreage home is worth in the current market email me or call or text 604-726-1023.