Have you heard the expression The Unicorn years? In the property market that relates to 2022 and 2021; before the pandemic of 2020. And the unicorn, as defined in this context, is something that is greatly desired, but difficult or impossible to find. There is no point in looking at 2023 data and comparing it back to 2022 or 2021 because we're not comparing apples to apples. What we're doing is actually skewing our perspective.

The reality is where we are now! Price appreciation is more akin to what we saw in 2019 and 2018, and we still have a lot of buyers out there looking back at the levels of 2019 and 2018. When we do comps for a seller looking to list their property or a buyer looking to ensure that they're transacting at a level they feel comfortable with, it's really important to put all this data into the proper perspective. At the end of the day, of course, something is only worth as much as somebody is willing to pay for it.

And isn't that the truth!