Market Statistics Discovery Harbour

Market Statistics Discovery Harbour

August 11, 2018

How’s the vacant land market here, in Discovery Harbour neighborhood? Well, the turnover rate is 9% so more people are selling now. The average sold price is now $31,318 and the year over year appreciation rate is up 4%. The absorption rate last quarter was 7% and that means there are 15 months inventory, and that’s pushing us into a stronger buyer’s market. The market velocity, which measures changes in buyer demand, is up 64% year over year, so we should continue to see price appreciation moving forward. Overall, the market in Discovery Harbour is quite healthy and I think that will continue.

How’s the residential market here, in Discovery Harbour neighborhood? Well, the turnover rate is 8% so more people are selling now. The average sold price is now $267,346 and the year over year appreciation rate is down 9%. The absorption rate last quarter was 25% and that means there are 4 months inventory, and that’s pushing us into a stronger seller’s market. The market velocity, which measures changes in buyer demand, is up 14% year over year, so we should see price appreciation moving forward. Overall, the market in Discovery Harbour is quite healthy and I think that will continue.

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