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Everyone, media, home owners, Realtors etc. are fascinated with the average price of housing. With 80% of sales within a $200,000 price change it only takes a couple of million dollar properties to skew the average into an unrealistic number.
I like using the Housing Price Index (HPI) as an indication of the market for tow reasons: first, its gives a truer indication of real estate price levels of both the long and short period; second, when doing a market evaluation of a "typical" home I can look at the change in the index between the date a client purchased their house and the date of the evaluation and extrapolate a current price.
The HPI of the three housing categories follow.
The Housing Price Index (HPI), for all detached homes and apartment condos have recovered to within 3 per cent lower than in spring 2008. HPI for all three categories for January 2010 was $446,671 compared to $460,682 in May 2008.
HPI of Fraser Valley Detached Homes increased by 10.8 per cent going from $452,145 in January 2009 to $500,931 in January 2010.
HPI of Fraser Valley Townhouses increased by 7.6 percent going from $295,339 in January 2009 to $317,719 in January 2010.
HPI of Fraser Valley Apartments increased by 10.4 per cent going from $220,595 in January 2009 to $243,470 in January 2010.
The Housing Price Index (HPI) is a tool developed by the Greater Vancouver and Fraser Valley Real Estate Boards to measure residential market activity. It tracks and measures the movement of mid-range priced homes for a set time period and provides reliable information on housing price trends since it excludes extremely high and low priced properties.
Do you want a Realtor who works to higher standards As your real estate agent I owe you the duties of loyalty, obedience, disclosure, confidentiality, care and diligence. I work to higher standards.
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I am pleased to write this letter in support of my Realtor, Bob Dunn. I have known Bob for six years and have come to rely on him as my source for real estate information and help. Bob is always prompt at returning calls, and takes extra time in showing properties and updating me on the latest trends. He never seems too busy to help. I also appreciate his easy manner and confidence. I know Bob will get the job done for me, and I appreciate that.
Susan G., Accountant, Abbotsford
Attention to detail, service before and after sales. I really enjoyed working with you both on the sale and purchase. You always responded to my requests and encouraged me to look in an area I hadn't considered. You were helpful on dealing with the bank as well. I would certainly use your services again were I to move.
Gloria, University Professor, Vancouver
We liked that we had coffee as a way to build trust and to help to get to know what we were looking for.
Eugene and Jane, Counselors, Abbotsford
Thank you for all of your assistance with the sale of our condo! We greatly appreciate the ongoing market updates over the year and the special attention you extended to us. Please enjoy a night out as a small thank you for all of your assistance.
Alyson& Steve, Administrator & Air Traffic Control
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