The reasoning for trading up in a down Richmond housing market is best summed up by Sebastian Albrecht, a Vancouver Realtor at Royal LePage Westside.
The housing market in Richmond is similar to the markets in other Greater Vancouver Municipalities. Home prices had come down by 10% to 12% from the peak towards the end of 2007.
Trading Up
Obviously, you must have the need for trading up to a newer or larger home, a better neighborhood and you can afford to make the move.
If you are in a similar situation wondering whether you should trade up, the post helped to explain why you should do it:
"Not only is our young couple saving money, they are also more likely to find the home that they want in this market. There are lots of choices and you have the luxury of finding the right home for you in this market. That’s not a luxury you’d have in a seller’s market".
You can read Sebastian's full article here.
Richmond Housing Market
You can view the most recent sales and pricing activities in Richmond by following my on-line real estate postings on Richmond Housing Report.
If you like to have more information on buying or selling your home in Richmond, you can contact me at 604-721-4817 or send me an email.
