Current: N.Delta has a Stable Market with 13 %SOLD rates and a 98% Sell/List ratio.
(This means that there is an average of a $38,944 Discount from Original list price)
Most Active Range: Homes between $875,000 - $980,000 have a high 17.6 %SOLD rate.
Least Active Range: Homes above $1.2 mill. have 6.5 %SOLD rate.
History: North Delta Year-To-Date Home Price Index* HPIp (Top 50%) shows that prices decreased $24,248.
The North Delta Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $30,948.
*The RMR HPI (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: North Delta has average Listing supply; 240 homes are for sale and with 13 %SOLD monthly rates gives us about ~8 months of inventory. 10% of the active listings have reduced their price by $41,344 on average or $30,000 on median for the last month. We project North Delta to be a continued Stable market.
July's Real Estate Statistics shows 74% of Vancouver's Detached Home decreased in values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $22,076. This demonstrates a trend of deeper declines as evidenced from the $18,158 drop in June, $14,880 drop in May and the $8,007 drop in April. On the other hand, the Fraser Valley also shows a declined this month with the monthly price decrease of $3,176. We are forecasting Declining Detached Home Prices across most of the Fraser Valley and Vancouver Markets the next quarter.
Currently, the Condo Market presents a Cool Market with 87% of the Greater Vancouver (Lower Mainland) Condo Prices decreasing $6,482 on average. On the same note, 81% of the Townhouse Markets decreased $3,507 on average (23 out of 28 Markets). We are forecasting a Buyer’s Market in most Condo and Townhouse Markets for the coming quarter. We 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 Neighborhood.