By: Gavin Chen

July 2018

Tags: 2018 Newsletter, Gavin Chen, The Gavin Chen Team

July is upon us! The June market showed signs of improvement with sales up 2.4% from June 2017 and very positive 17.6% from the previous month of May.   The average sale price was up 2% year over year and 3.3% from the previous month showing a steady upward trajectory as buyers returned to the market. We are still 4.8% down in price year over year based on the MLS Home Price Index but...Read More

By: Gavin Chen

June 2018

Tags: 2018 Newsletter, Gavin Chen, The Gavin Chen Team

WELCOME JUNE!   The market in May was down 22.2% compared to last year, but showed an improvement versus previous months in 2018 which were down over 30%.  The number of transactions were up fractionally (42 sales...I was right about increasing although by a smaller margin than I expected). The MLS Home Price Index Composite Benchmark was down 5.4% and average selling price was down 6...Read More

By: Gavin Chen

May 2018

Tags: 2018 Newsletter, Gavin Chen, The Gavin Chen Team

Welcome May!  Finally, Spring has arrived. April's sales are down 32.1% compared to last year with 7,792 sales recorded.  The average selling price is down 12.4% but the MLS Home Price Index Composite Benchmark is only down 5.2% as the majority of the decrease has come from the slow sales in the luxury market.  Homes over 2M accounted for 5.5% of total sales versus 10...Read More

By: Gavin Chen

April 2018

Tags: 2018 Newsletter, Gavin Chen, The Gavin Chen Team

  Spring is in the Air!  Not!  Welcome April!  Well I wish I had better news.  The market has slipped a bit further and the number of transactions are down 39.5% in March 2018 versus the same time in 2017.  This is balanced by the number of new listings also being down 12.4% from last year. Currently we are experiencing a larger than normal inventory of about 2-3 m...Read More

By: Gavin Chen

March 2018

Tags: 2018 Newsletter, Gavin Chen, The Gavin Chen Team

  Welcome March! February was a slow month, no double about it.  Sales were down 34.9% compared to February 2017 which was a further slow down from January. My forecast of market tentativeness due to the new financing requirements and fair housing plan was correct, but maybe more like mild paralysis. ;) The condo market however has been and continues to be on fire.  Properties a...Read More

By: Gavin Chen

February 2018

Tags: 2018 Newsletter, Gavin Chen, The Gavin Chen Team

  Welcome February!    Hope everyone is staying warm with all the Extreme Cold weather alerts this year. Maybe it's the cold weather or the change in the financing requirements, but the total sales transactions recorded in January 2018 was 4,019 which represents a 22% decrease from January 2017 which saw 5,155 transactions. The average selling price for a home in January 201...Read More

By: Gavin Chen

January 2018

Tags: 2018 Newsletter, Gavin chen, the gavin chen team

    Welcome January!  Happy New Year! The stats are in...and the total number of sales in 2017 was 92,394.  This represents a 18.3% decrease to the record highs set in 2016. Do not fret though as the average selling price for a home in 2017 was $822,681 which is a 12.7% increase from 2016! We all witnessed the turbulent market of 2017 with a tremendous gains in Q1, and the ...Read More