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Entry detached is running away from the rest of the market. It's absolutely insane, anything that's not a tear down under 1.7M is gone in the blink of an eye. Prices are up 15% in 1 year and I think we're about to see ATH in this segment if we're not there yet... It definitely feels like 2016 again for anyone looking in this segment...
Your standard, well maintained, original van special is now selling for up to 1.6-1.7m...
2688 E45th just sold for 1.663M today (ask was 1.498. peak 2018 assessed was 1.453)...
*disclaimer: sold my Olympic village condo july 2019 hoping to make the jump to detached while headlines were screaming that sales were the lowest in 30 years... I got caught completely off guard with how fast the detached market was heating up, lost out on multiple offers over 8-9 months and ended up settling for a detached in west Coquitlam a few months ago. Hindsight is 20/20 but I lost out on over 100k in equity gains...
Last edited by Alpine; 08-27-2020 at 01:21 PM.
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