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Townhomes and Condos are very hot right now!

Blog by Michael Cosburn | May 3rd, 2017

The townhome and condo markets are extremely hot right now! We are seeing similar patterns that we saw last year in terms of a quick sale after the initial open house weekend. The buyers are out and ready to pay for a sought after townhome or condo. These choices were thought to be more affordable but the prices of detached homes, which still remain hign, have brought up the demand for what was more affordable housing. Thus with more demand for townhomes and condos the prices have come up. We are again seeing multiple offer situations regularly and the prices are still on the rise as a result of the buyers competing for the same inventory of properties for sale and offering over the asking price. Usually there is a bit of a lull before an election but it doens't seem to be the case this time around. If you have questions about Buying or Selling real estate in the Fraser Valley let me know and I'll be glad to assist you. Hope you have a great day!