Current: Ladner,Tsawwassen and S.Delta residential detached housing market has a 13 %SOLD rate making it a Sellers Market . (This means 13 homes out of 100 sold last month with an average $58,000 Discount from the original list price )
Most Active Range: Homes below $1 mill. have 20.5 %SOLD rate
Least Active Range: Homes above $1.8 mill. have 3.6 %SOLD rate
History: Ladner, Tsawwassen and S.Delta Year-To-Date RMR Home Price Index* shows that that prices increased $41,078.
*The RMR HPI (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Ladner,Tsawwassen and S.Delta have 224 homes for sale and with the 13 %SOLD monthly rate gives us ~8 months of inventory. 13% of the active listings have reduced their price by $51,321 on average or $50,000 median in the last month.
November's Real Estate Statistics show 67% of Vancouver's Detached Markets increasing values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price increase of $3,870, which is much better than the $10,887 decrease that we saw in the month prior. The Average Fraser Valley has a stronger Market with their $6,132 monthly increase, which is better than the $1,381 increase that we saw in the month prior. With the pending higher mortgage rates, much tougher mortgage lending rules, pending trade tariffs and the chilly economic winds arriving starting in January, we are forecasting the beginning of Buyers Market across most Detached and Townhouse Markets.
Currently, the Condo Markets set the pace with 83% still increasing in Greater Vancouver (Lower Mainland) (25 of 30 Markets). We are forecasting a continued Seller's Market in the Condo Markets for the following month. 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 Neighbourhood.