Current: Vancouver Downtown's Residential Attached housing market is a Seller market with 16 %SOLD rate and a 96% Sell/List Ratio.
(This means 16 homes out of 100 sold with an average of $34,900 discount on a sale from original list price)
Most Active Range: Homes between $1 mill. - $1.3 mill. have 29.7 %SOLD rate.
Least Active Range: Homes above $1.8 mill. have 5.0 %SOLD rate
History: The Vancouver Downtown Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $113,231.
The Vancouver Downtown Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $24,975.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Current listing inventories are 3% more than same month last year meaning that we are seeing a reduced listings supply. We project Vancouver Downtown to be a continued seller market.
October's Real Estate Statistics shows 62% of Vancouver's Detached Home decreased in values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $8,735. This is a positive improvement from the $13,210 and the $9,192 drops that we saw in August and September respectively. On the other hand, the Fraser Valley also had a monthly price decrease of $4,655. The Chinese National Holiday was the 1st week of October and helped bring a few extra sales in the Hongcouver cities, we are now forecasting further Declines in Detached Home Prices across most of Vancouver Markets in the next month.
Currently, the Condo Market presents a Cool Market with 72% of the Greater Vancouver (Lower Mainland) Condo Prices decreasing $1,153.75 on average. Many new Condo Projects are now competing against the existing market. On the same note, 54% of the Townhouse Markets decreased $477 on average (15 out of 28 Markets). We are forecasting a Buyer's Market in most Condo and Townhouse Markets for the coming month. 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.