PRICE INCREASES ACROSS THE BOARD FOR SINGLE FAMILY HOMES IN CRANBROOK FOR THE YEAR 2018
TFA = total finished area including basement finish
PP sq. ft. = average price per square ft. including the lot
Year Built TFA 2017 2018 Increase
PP sq. ft. PP sq. ft %
1970- 1980 1900-2150 $141 $156 10.7
1981- 1991 2000-3500 $139 $158 13.7
1991-2010 2100-3800 $151 $164 8.8
1995-2018 2500-4500 $170 $184 8.2
WILL THESE PRICE INCREASES HOLD FOR 2019?
CHECK OUT THE INFORMATION BELOW
QUICK FACTS ABOUT the CRANBROOK RESIDENTIAL MARKET
AVERAGE PRICE of SINGLE FAMILY SALES IN 2017 - $319,972
FOR A TOTAL OF 291 SALES
AVERAGE PRICE of SINGLE FAMILY SALES IN 2018 - $334,823
FOR A TOTAL OF 282 SALES
ARE 2019 SALES KEEPING PACE WITH 2018?
SALES OF SINGLE FAMILY HOMES FOR FIRST 60 DAYS OF 2018
SALES OF SINGLE FAMILY HOMES FOR FIRST 60 DAYS OF 2019
31 - right on target!
ARE THE PRICE INCREASES IN 2018 HOLDING?
There is not enough data to establish a trend. One small study indicated a small price correction on the one hand, but but on the other hand homes are being priced close to 2018 levels and are being sold close to asking price. That coupled with the fact that the number of sales have not dropped, and that inventory levels are close to the same level of 2018, is positive and so there is reason to be cautiously optimistic. (see the active single family listings graph below)