Current: New West & E. Burnaby's Residential Detached housing is in a Seller Market with 21 %SOLD rate.
(meaning 21 homes out of 100 sold last month with an average $18,500 Discount from the original list price)
Most Active Range: Homes between $1.125 mill. - $1.3 mill. have a High 35.8 %SOLD rate.
Least Active Range: Homes between $1.875 mill. have a 8.1 %SOLD rate.
History: The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Upper 50%) shows that prices decreased $12,000.
The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $10,814.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast:New Westminster- East Burnaby has an average Listing Supply; 128 homes are for sale and with the 21 %SOLD Monthly Rate giving us a ~5 Months of Inventory. Another indicator: 13% of the Active Listings have Reduced their Price by $47,689 on Average and $40,000 on Median in the last month. We project New Westminster- East Burnaby Detached to be a Seller Market.
September's Real Estate Statistics shows that 100% of Single-Family Homes in Metro Vancouver are in a Seller's Market. This is the 1st time all markets are rising since May 2017. The Average Monthly Prices increased $9,084 which is the highest increase we have seen this year or for any September on record. ON the other hand, Fraser Valley shows $7,079 monthly price increase. Thus, we are forecasting that in the Metro Vancouver Markets will Seller's Market will continue for the coming month.
Currently, Condos are also in a Seller Market with 60% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. The average monthly price increase was $965. At the same time, 20 out of 28 Townhouse Markets increased an average of $1,412. 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.