Current: Vancouver Downtown's Residential Attached housing market is a Seller market with 11 %SOLD rate and a 97% Sell/List Ratio.
(This means 10 homes out of 100 sold with an average of $24,000 discount on a sale from original list price)
Most Active Range: Homes below $450,000 - $550,000 have 35.0 %SOLD rate.
Least Active Range: Homes above $2.2 mill. have 4.2 %SOLD rate
History: The Vancouver Downtown Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $18,590.
The Vancouver Downtown Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $22,503.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Current listing inventories are 37% less than same month last year meaning that we are seeing a reduced listings supply. We project Vancouver Downtown to be a continued Seller market.
June's Real Estate Statistics still shows that 86% of Single-Family Homes in Metro Vancouver are in a Seller's Market. The Average Monthly Prices increased $4,262 which is almost the same price increase we saw last March. On the other hand, Fraser Valley Single Family Homes had a $2,625 monthly price increase. We saw a 50% increase in sales last month and a significant increase in new listings. Thus, we are forecasting that the Markets will start to stabilize this coming month.
Currently, Condos are in a Seller Market with 57% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. On average, the Condo Market went up $323. At the same time, the Townhouse Markets increased $1,529. That is 75% increased (21 out of 28 Markets). We analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every Saturday. 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.