Current: Vancouver area Real Estate Market ranges from a Buyers Market to a Stable Market with an average of 16.6 %SOLDrate. See each city for the full details.
February's Real Estate Statistics shows a Normal Spring Market! Single Family Homes in Metro Vancouver experienced an Average Monthly Price increase of $2,749 a real improvement from the $3,176 price decrease the month prior. Finally, we have ended 32 consecutive months of dropping home prices. On the other hand, Single Family Homes in the Fraser Valley Market had a $4,302 monthly price increase, this is our most substantive recovery since the Peak in April 2018 with 94% of Detached Markets increased values. The Coronavirus issue now moves us into uncharted territory. The pent-up buyer demand is still there! Over the next few months, we are forecasting modest seasonal price increases in most Vancouver Detached Home Markets.
Currently, the Condo Market presents Seller Market conditions with 83% of the Greater Vancouver (Lower Mainland) Condo Prices increasing $1,428 on average. At the same time, 68% of the Townhouse Markets increased $831 on average (19 out of 28 Markets). We are forecasting increasing Condo and Townhouse Markets in the coming months. We analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every 2 weeks. Please contact us for your own Market Value Update with an in-depth Analysis and Forecast in your Local Market Area and more specifically - Your Neighborhood.
Fraser Valley & Chilliwack Mar 13, 2020 (2-week update)
Current: Fraser Valley and the Chilliwack areas overall are in a Seller Market averaging a 20.3 %SOLD rate. See eaccity link for the full details
Real Estate Market Conditions for the Vancouver Area
In the Vancouver area for the Month of February 2020, 16% of the Single Family Home Sold Listings reduced their List Price by the Average of $105,164. This compares to January 2020, when 26% reduced their List Price by the Average of $116,572.
( Note: the other Two Week Reports ( STR and MTI ) will be more accurate market indicators than this monthly report after the middle of each month.)
Real Estate Market Conditions for the Fraser Valley and Chilliwack Area
In the Fraser Valley-Chilliwack area, for the Month of February 2020, 15% of the Single Family Home Sold Listings reduced their List Price by the average of $39,006. This compares to January 2020 when 24% reduced their List Price by the average of $36,455.
Did Vancouver Real Estate Really go down 17% since April 2018 peak?
The Bestand Worst Investments in Greater Vancouver()
Prices have dropped across All Cities, All Markets!
From the Peak in June 2017 (32 months Sales) For Vancouver Detached Homes:
Vancouver Westside and White Rock are both down with 24.7% and 14.4%, respectively.
From the Peak in April 2018 (23 months Sales) For Fraser Valley Detached Homes:
Chilliwack homes also got hit with an 8.8% decrease, and Maple Ridge showed a decline with 9.6% price decrease. (Click Image to See the difference between the High and Low Markets)