Current: New West & E. Burnaby's Residential Detached housing is in a Stable Market with 13 %SOLD rate.
(meaning 13 homes out of 100 sold last month with an average $48,988 Discount from the original list price)
Most Active Range: Homes between $950,000 - $1 mill. have a High 26.9 %SOLD rate.
Least Active Range: Homes between $1.1 mill. - $1.25 mill. have a 7.4 %SOLD rate.
History: The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Upper 50%) shows that prices decreased $30,226.
The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $11,220.
*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; 127 homes are for sale and with the 13 %SOLD Monthly Rate giving us a ~8 Months of Inventory. Another indicator: 10% of the Active Listings have Reduced their Price by $54,092 on Average and $49,900 on Median in the last month. We project New Westminster- East Burnaby Detached to be a Stable 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.