Current: West Vancouver is in a Buyers Market with 7 %SOLD rate, 23 days on the market (DOM) and with a 4% selling discount of $139,000 off the original list price.
Most Active Range: Homes below $2 mill. have 32 %SOLD rate.
Least Active Range: Homes above $7 mill. have 5.1 %SOLD rate.
History: The West Vancouver Year-To-Date Home Price Index HPIp (Top 50%) HPIp* shows that prices increased $106,961.
The West Vancouver Year-To-Date Home Price Index HPIp (Lower 50%) HPIp* shows that prices increased $72,075.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: West Vancouver has average Listing supply; 476 homes are for sale and with the 7 %SOLD monthly rate gives us a ~14 months of inventory. 7% of the active listings have reduced their price by $261,485 on average and $200,000 on median for the last month. We project West Vancouver to be a continued Stable market.
July's Real Estate Statistics show our Markets have NORMLIZED with 52% of Vancouver's Detached Markets increasing values this month. Gone of the Exhausting Highly Emotional Charged Markets that we have seen in the last few years. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Increase of just $7,343, which is a small decrease over the $8,046 increase that we saw in June. Average Increase in Fraser Valley Markets has also normalized with a $6,045 monthly increase. Single Family Homes in the Fraser Valley experienced an Average Monthly Price Increase of $6,045, which is a major decrease over the $19,160 increase that we saw in June. Last year our Single Family Markets peaked in June/July and this year we are forecasting the end of the Sellers Market across most Detached Markets.
Currently 88% of the Attached Markets are increasing at a fast pace in Greater Vancouver (51 of 58 Markets). We continue to 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 Neighbourhood.