Drew & Patti Steeves Team

HomeLife Benchmark Titus Realty

Cell (604) 230-5700

Office (604) 575-5262

Email: drew@drewsteeves.com

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Market Tool: Home Price Index (HPI)

If you are trying to find out what the market looks like in your local area, a great tool is the Home Price Index (HPI) found on the Real Estate Board of Greater Vancouver website.


You can select the area you are looking to buy in (or the area you currently live in to help determine a sale price); the property style (detached, condo, etc) and the time period (most recent, or past periods to help spot trends).

 

An example of the HPI results for residential properties in the Lower Mainland based on May 2014 data

 

 

Why it's good for sellers:

- provide recent, relevant information to give you an overall idea of the market in certain ares, for different property types, and what the trends have been

- select a fair price to list your home to help it sell faster

 

Why it's good for buyers:

- provide information about prices in areas you are interested in

- help you make informed offers that reflect a variety of considerations, such as the local market trends and prices for the different kinds of properties available

 

 

Having a tool like this can help give you an overall picture of current market conditions as you prepare to buy or sell. Listing your house at a fair, competitive price can help make it attractive to buyers & help it sell fast. For buyers, this can help you determine how realistic your budget and expectations are for properties in the areas you are seeking to buy in. 

 

If you have any questions about the local market, curent prices, and other information, contact us today and we will happily answer all your questions and make the process simple & straight forward.

 

Image Sources:

Real Estate Board of Greater Vancouver

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.