I had some time during this rainy day to to a little statistical research and this is what I found.
Compared to last year home values are up on both the median and average scale. The median price of a home is up 7.5% from last year. The median price of a condo is up 19% That is an amazing move!! Granted with only 20 condo sales the pool is small so numbers can change quickly.
It’s really going to be interesting to see what happens by the end of Q3 and by the end of the year. With the low interest rates that we are seeing now, I expect that sales will stay on the up cycle for the remainder of the year.