Current: N.Delta has a Stable Market with 16 %SOLD rates and a 96% Sell/List ratio.
(This means that there is an average of a $39,444 Discount from Original list price)
Most Active Range: Homes below $875,000 have a high 25.6 %SOLD rate.
Least Active Range: Homes above $1.2 mill. have 10.3 %SOLD rate.
History: North Delta Year-To-Date Home Price Index* HPIp (Top 50%) shows that prices increased $2,716.
The North Delta Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $6,195.
*The RMR HPI (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: North Delta has average Listing supply; 177 homes are for sale and with 16 %SOLD monthly rates gives us about ~6 months of inventory. 16% of the active listings have reduced their price by $34,569 on average or $29,200 on median for the last month. We project North Delta to be a continued Stable market.
January's Real Estate Statistics shows 69% of Vancouver's Detached Markets values experienced an Average Monthly Price decrease of $13,255 which more than last December's price drop of $11,497. On Average, the Fraser Valley Market shows a $3,389 monthly price decrease. Consumer confidence has been damped with the Volatile Stock Markets, tougher mortgage lending rules, and pending interest rate increases. We are forecasting a Buyer's Market across most Detached Markets for the following months.
Currently, the Condo Market presents a Cool Market with 77% of the Greater Vancouver (Lower Mainland) now decreasing. At the same time, 71% of Townhouse Markets are decreasing. (20 out of 28 Markets). Both Markets still indicate a Buyer's "Wait-To-Drop-More" behavior for the last 3 quarters. We are forecasting a Buyer’s Market in all Condo/Townhouse Markets for the foreseeable future. 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.