Current: Vancouver Downtown's Residential Attached housing market is a Seller market with 21 %SOLD rate and a 99% Sell/List Ratio.
(This means 21 homes out of 100 sold with an average of $10,000 discount on a sale from original list price)
Most Active Range: Homes between $575,000 - $650,000 have 34.1 %SOLD rate.
Least Active Range: Homes above $2.5 mill. have 4.8 %SOLD rate
History: The Vancouver Downtown Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $150,000.
The Vancouver Downtown Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $19,698.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Current listing inventories are 52% 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.
May's Real Estate Statistics show that the seller's market is near its end. We have seen 86% of the Single-Family Homes in Metro Vancouver go up with an Average Monthly Price increase of $8,840! On the Other Hand, 67% of the Fraser Valley Detached Markets went up with a Monthly Price increase of $9,394 on average! Due to tougher mortgage qualification rules, we are forecasting that the majority of the Metro Vancouver Markets will flip to a Buyer's Market within 2-3 weeks.
Currently, Condos are in a more subdued Seller's Market with 77% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. The average monthly price increase was $6,150. On the other hand, 96% of Townhouse Markets (27 out of 28) increased an average of $7,859. We analyze and provide 97 individual City's Home Price Indexes to supply you with 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.