Current: Vancouver Downtown's Residential Attached housing market is a Stable market with 11 %SOLD rate and a 98% Sell/List Ratio.
(This means 9 homes out of 100 sold with an average of $13,900 discount on a sale from original list price)
Most Active Range: Homes below $500,000 have 23.3 %SOLD rate.
Least Active Range: Homes above $2.75 mill. have 1.5 %SOLD rate
History: The Vancouver Downtown Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $49,001.
The Vancouver Downtown Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $13,869.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Current listing inventories are 17% 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 February 2024:
In Greater Vancouver, the average monthly cost of single-family detached homes has increased by $20,376. This is a substantial recovery from January's $3,444 price increase. Listing inventories are still low; thus, with limited sales, there is enough pressure to push the market upward. This spring, we forecast a seller's market in the Vancouver area.
With an average price increase of $8,951, 72% of condos in Vancouver's condo market are in a seller's market. The average price of townhouses has decreased to $1,247 but will shift to a Buyer's market now.
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 February 2024:
In Fraser Valley, the average monthly cost of single-family detached homes has increased to $19,686. This is a substantial recovery from January's $1,040 price increase. In the Fraser Valley Area, we forecast a seller's market this spring.
The Fraser Valley's condo market saw an average price increase of $8,223, 92% of the condo markets are in a Seller's Market. Furthermore, the average price of townhouses in the market has increased by $4,856.
For the latest and most accurate market trends, join us every Saturday at noon on VancouverMarketReports.com, where we analyze the performance of 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, feel free to reach out to Bill Coughlin and the Coughlin Team at 778-374-3744.
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