Current: Vancouver Downtown's Residential Attached housing market is a Stable market with 10 %SOLD rate and a 97% Sell/List Ratio.
(This means 17 homes out of 100 sold with an average of $34,900 discount on a sale from original list price)
Most Active Range: Homes below $450,000 have 31.8 %SOLD rate.
Least Active Range: Homes between $2.2 mill. have 4.7 %SOLD rate
History: The Vancouver Downtown Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $73,234.
The Vancouver Downtown Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $37,535.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Current listing inventories are 46% more than the same month last year meaning that we are seeing a reduced listings supply. The buyer demand is strong. We project Vancouver Downtown to be a continued Stable market
February's Real Estate Statistics shows some of our Markets stabilizing with 44% of Vancouver's Detached Markets increasing values this month. Generally, Single Family Homes in Metro Vancouver experienced an Average Monthly Price decrease of $13,230 which is the same as last month's price drop of $13,255. On Average, the Fraser Valley's Market is balanced with just a $464 monthly price decrease. The following month's forecasts are continued Buyer's Detached Market across most of Vancouver and a Stable Market in the Fraser Valley.
Currently, the Condo Market presents a Cooler Market with 63% of Greater Vancouver (Lower Mainland) with decreasing prices. At the same time, 67% of Townhouse Markets are decreasing. (16 out of 28 Markets). We are forecasting a continued Buyers Market in all Condo/Townhouse Markets for the short term. 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.