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Delta real estate market cools off
Latest stats show slight decreases in Ladner and Tsawwassen, the first drop in quite some time SANDOR GYARMATI
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The red hot real estate market in Delta has started to cool. The latest figures from the Real Estate Board of Greater Vancouver for July indicate residential property sales in the
region saw a decrease from the sales recorded in July 2015, as well as a decrease compared to June 2016. “After several months of record-breaking sales activity, home buyer demand returned to more historically normal levels in July,” said Dan Morrison,
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REBGV president. While sales of detached properties this July saw an overall decrease compared to July 2015, the “benchmark price” for those properties overall are now 38 per cent higher. In Ladner, the benchmark for a detached house this July was
$1,033,400, a slight decrease of less than one per cent from the previous month. However, since July 2015 the price rose 36.6 per cent. The price in Tsawwassen was at $1,269,700, which was a decrease of under one per cent as well. Due to months of rapid esca-
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lation over the year the price had risen 42.4 per cent, the second highest in the region. The slight decreases in Ladner and Tsawwassen were the first drop in a long time and reflective of other communities that saw prices barely move up or downward.
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