Current: Vancouver Downtown's Residential Attached housing market is a Stable market with 10 %SOLD rate and a 97% Sell/List Ratio.
(This means 17 homes out of 100 sold with an average of $34,900 discount on a sale from original list price)
Most Active Range: Homes below $450,000 have 31.8 %SOLD rate.
Least Active Range: Homes between $2.2 mill. have 4.7 %SOLD rate
History: The Vancouver Downtown Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $73,234.
The Vancouver Downtown Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $37,535.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Current listing inventories are 46% more than the same month last year meaning that we are seeing a reduced listings supply. The buyer demand is strong. We project Vancouver Downtown 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.