Current: Vancouver Downtown's Residential Attached housing market is a Stable market with 12 %SOLD rate and a 98% Sell/List Ratio.
(This means 11 homes out of 100 sold with an average of $14,900 discount on a sale from original list price)
Most Active Range: Homes below $500,000 have 20.9 %SOLD rate.
Least Active Range: Homes above $2.75 mill. have 3.9 %SOLD rate
History: The Vancouver Downtown Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $50,376.
The Vancouver Downtown Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $23,054.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Current listing inventories are 26% more than same month last year meaning that we are seeing a reduced listings supply. We project Vancouver Downtown to be on a Continued Stable market.
Greater Vancouver June 2024:
In Greater Vancouver, the price of single-family homes went up by an average of $9,848, which is a substantial reduction from the $22,450 increase in May. The housing market continues to experience pressure as home buyers are still waiting for a bigger drop in interest rates, which we are now expecting this fall. We predict that the Metro Vancouver area is now a buyer's market and will stay that way for the next few months.
Last month, the average price of condos went down by $7,295, but townhouse prices actually went up by $2,120. We think the condo and townhouse markets have stabilized and will be a buyer's market in Vancouver for the next few months.
For the latest market trends, join us every Saturday at noon on VancouverMarketReports.com. We discuss which areas in the Lower Mainland are doing well and which are not. For a complete update on market values, forecasts, and a detailed analysis of your neighborhood, contact Bill Coughlin and the Coughlin Team at 778-374-3744.
Fraser Valley June 2024:
In Fraser Valley, the price of single-family homes increased by an average of $1,063, which is a similar increase that we saw in May. The housing market continues to experience pressure as home buyers are still waiting for a bigger drop in interest rates, which we are now expecting this fall. We predict that the Fraser Valley area is now a buyer's market and will remain so for the next few months.
Last month, the average price of condos went down by $5,499, and townhouse prices also decreased by $2,253. We think the condo and townhouse markets have stabilized and will be a buyer's market in Vancouver for the next few months.
For the latest market trends, join us every Saturday at noon on VancouverMarketReports.com. We discuss which areas in the Lower Mainland are doing well and which are not. For a complete update on market values, forecasts, and a detailed analysis of your neighborhood, contact Bill Coughlin and the Coughlin Team at 778-374-3744.
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