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Current: Vancouver Downtown's Residential Attached housing market is a Stable market with 11 %SOLD rate and a 98% Sell/List Ratio.
(This means 11 homes out of 100 sold with an average of $16,250 discount on a sale from original list price)
Most Active Range: Homes below $500,000 have 25.6 %SOLD rate.
Least Active Range: Homes above $2.75 mill. have 3.0 %SOLD rate
History: The Vancouver Downtown Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $62,785.
The Vancouver Downtown Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $9,051.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Current listing inventories are 25% more than same month last year meaning that we are seeing a reduced listings supply. We project Vancouver Downtown to be on a Continued Stable market.
Greater Vancouver April 2024:
Single-family detached home costs have increased on average by $11,953, slightly less than the $18,256 average rise observed in March. Although fixed mortgage rates have dropped significantly, it seems that buyer confidence is dependent on the Bank's policy rate falling as well, which could entice some buyers to enter the market. We forecast that the seller-friendly real estate market will switch to a buyers within the month.
In Vancouver, the average cost of 78% of condominiums has declined by $536. However, townhouses are selling for an average of $2,505 presently as opposed to $10,973. We forecast the sellers' market to end within the next month.
For the most accurate and up-to-date market trends, join us every Saturday at noon on VancouverMarketReports.com, where we analyze the winners and losers in each Lower Mainland city. For a comprehensive market value update, including forecasts and a thorough analysis of your neighborhood and local market area, please don't hesitate to contact Bill Coughlin and the Coughlin Team at 778-374-3744.
Fraser Valley April 2024:
Single-family detached home costs have increased on average by $4,367, slightly less than the $13,015 average rise observed in March. Although fixed mortgage rates have dropped significantly, it seems that buyer confidence is dependent on the Bank's policy rate falling as well, which could entice some buyers to enter the market. We forecast that the seller-friendly real estate market will switch to a buyers within the month.
In Fraser Valley, the average cost of 75% of condominiums has gone up by $3,141. However, townhouses are selling for an average of $7,202 presently as opposed to $9,716. We forecast the sellers' market to end within the next month.
For the most accurate and up-to-date market trends, join us every Saturday at noon on VancouverMarketReports.com, where we analyze the winners and losers in each Lower Mainland city. For a comprehensive market value update, including forecasts and a thorough analysis of your neighborhood and local market area, please don't hesitate to contact Bill Coughlin and the Coughlin Team at 778-374-3744.
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