Current: East Vancouver has a Buyer's Market with average listing inventory, 6 %SOLD rate, a 95% Sell/List Ratio and 27 DOM.
(This means an average of an $59,000 discount on a sale from the original list price)
Most Active Range: Homes below $1.2 mill. have a High 20.6 %SOLD rate.
Least Active Range: Homes above $2 mill. have 2.3 %SOLD rate.
History: The East Vancouver Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $60,093.
The East Vancouver Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $73,630.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: East Vancouver has average Listing Supply; with 483 homes for sale and the 6 %SOLD monthly rate gives us ~17 months of Inventory. 19% of the active listings have reduced their price by $144,375 on average or $100,000 on median for the last month. We project East Vancouver to be a continued Buyer Market.
January's Real Estate Statistics shows 69% of Vancouver's Detached Markets values experienced an Average Monthly Price decrease of $13,255 which more than last December's price drop of $11,497. On Average, the Fraser Valley Market shows a $3,389 monthly price decrease. Consumer confidence has been damped with the Volatile Stock Markets, tougher mortgage lending rules, and pending interest rate increases. We are forecasting a Buyer's Market across most Detached Markets for the following months.
Currently, the Condo Market presents a Cool Market with 77% of the Greater Vancouver (Lower Mainland) now decreasing. At the same time, 71% of Townhouse Markets are decreasing. (20 out of 28 Markets). Both Markets still indicate a Buyer's "Wait-To-Drop-More" behavior for the last 3 quarters. We are forecasting a Buyer’s Market in all Condo/Townhouse Markets for the foreseeable future. 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.