Housing Prices...
Housing prices plateau, but sales still strong.
House and condo selling prices dropped slightly in Richmond in June, though sales remained strong in the days and weeks before HST came into effect.
According to stats from the REBGV the number of apartments and townhouses that changed hands increased between May and June.
While the median selling price of a townhouse jumped to $528,000 the price of condos dropped slightly from $350,000 in May to $332,500 last month.
The median selling price of a house also dropped slightly to $830,000 compared to the month earlier, while the number of signed deals dropped 11 per cent to 139 units over that same period.
Compared to June in 2009, however, the median selling price of condos, apartments and townhomes was up more than 10 per cent. Local market activity in June 2009 was much higher than last month.
From the Richmond Review-Mark van den Hemel