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JUMP! The leap from a condo or townhouse to a house has NEVER narrowed like this in our market!

 

A real trend of late is the continued heat of the condo and townhome market in most prime areas, and the continued (but likely bottoming out) cooling of detached house markets. This means the market has given MANY condo and townhome owners who intend to buy a house in the near future an unprecedented shortening of the 'equity bridge' to this goal.

CASE IN POINT: westside condos and townhomes remain at a relatively stratospheric level of demand (close to 50% sales ratio) and over the last year have risen 10% to 20% in value by most measures, while houses on the eastside are in balanced (18-20% +/- sales ratio) or even buyer's market territory in almost all sub-areas, with prices the same or even a bit less than they were a year ago (and certainly less than they were in June or July!). 

 

Point being: while condo and townhome owners' budgets have seen a dramatic acceleration, house prices have NOT.

 

If you are at ALL curious about how this special time in our market impacts YOUR unique situation and want to flesh out your present options, we are always available, along with our crack team of financial planners and mortgage specialists.

 

This graph tells the story... as FAR BACK as the stats go, this has never happened. Blue line is houses on the eastside, green line is condos and townhouses on the westside. Mouse over graph for further detail.