New West has seen its share of recent price increases for detached houses. It took off right at the start of January and made a few big leaps. Over the past 6 weeks there have now been a number of sales where the final price was more than $250,000 over asking price. We’ve leveled off somewhat, but prices are now reaching above $1M more often than not.
Fun fact: We recently saw a new record set for the highest priced sale ever in New West and it crossed the $2M threshold. Here’s a link to the details if you feel like snooping – 101 College Ct
I know a lot us (myself included) are now more focused on condo and townhouse options to raise our families. It’s a common trend that is driving activity and prices upward for strata properties that will accommodate a family. I expect to see a lot of growth in that segment this year.
Condos overall are on an upward trend and I notice a lot of investors trying to get in before a big lift. Now is definitely the time to talk if you’ve been thinking of an investment condo.
I enjoy keeping a close eye on the New West market. Please contact me directly if you want to get into it in more detail. I’m here to help and share my knowledge.
All the best,
Matt