Right now Mountain Village is incredible value, with prices at $85,000 cheaper that East Abbotsford for the same 2,300 sq ft house, or $115,000 cheaper for a 3,100 sq ft house. In fact Mountain Village is the same or less expensive than Mission right now but that is another story. Click for more details
So, if you need some help planning ahead, buying or selling real estate just call me and let's have coffee.
Home Price Index HPI
Dow Jones Stock Values 2007 - 2010
I see a close relationship between the Dow Jones stock market health and the market adjustments in the Mountain Village area, it is safe to say that majority of these owners have large stock portfolios
Now North Missions home prices are actually HIGHER than Abbotsford Mountain Village prices on a per square foot cost for the same size and age of home!!
Now Chilliwack showed quite a difference from between the Promontory Park and Sardis Garrison Crossing area.
People really want to know if the market is going up or down in the next quarter.
Basically the average home prices reported by our Real Estate Board have very little to do with actual home price changes.
In fact, when the average prices go up, it really could simply mean that during the month a few BIG million dollar homes may have been sold. When the average home price goes down it could mean that that month a lot of first time buyers bought the cheapest homes in town. In other words, these averages have absolutely NOTHING to do with "did your house value go up or down?".
Let me show you my extensive analyzing of the LOCAL neighborhood market areas and market projections.
Looking at the graph above you will probably say Bill, this is a very LOW value in Mountain Village in the spring of 2008 and it must be wrong .. Well , there were 11 sales in Mountain Village BELOW $120 per sq ft, in fact a few even below $100 per sq ft. Compare this to Townline and Parkside in North Abbotsford which hit $196-198 per sq ft. last year.
Remember that this report is based on the average price per sq ft with the sq footage being a 2300 sq ft home in East Abbotsford. The Mountain Village homes are closer to 3,100 sq ft. For the full picture it is still more than the the cost per sqft, the supply and demand (absorption rate) and the pending economic and political events that will affect consumer confidence that I analyze.
"Realtor and Lifestyle Consultant"
1-888-539-4664 Toll free
Re/Max Little Oak Realty
Abbotsford, Mission BC