A lot of strata owners have been enjoying watching their values soar over the past couple of years. But its not all fun, a common problem persists and a question is raised “but where would I go?” and if “I am up then so is the rest of the attached market.” Many strata owners are stuck in the position of having incredible equity in their condos and townhomes but a lack of options of how to make those incredible gains go to work for them with their next purchase. It can be a hard question to answer but one thing is for sure, the jump from attached to detached living hasn’t made this much sense in years. Below are two line graphs of house prices for detached and attached over the past 3 years. It is evident that the foreign buyers tax did its job in the detached market by cooling prices but the attached is still continuing to rise at a rapid pace. Pricing has become less about the home itself and more just about the price bands the home sits within. If you are considering the sale of your attached property and looking into your options with detached homes, I would love to help steer that conversation and provide some valuable insight of the trends I am seeing in the market.
