The Lower Mainland Real Estate Market Reports, Forecasts and Trends

 


The lower mainland real estate market reports give you live market updates. Pick a city above to see their report!!

                         EXPAND..Interactive Link

 

 
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Vancouver Area  Nov 17, 2023  (2-week update)

Current:  Vancouver area Real Estate Market is in Stable Market with an average of 10.7 %SOLD rate.   See each city for the full details.

Forecast:

Greater Vancouver October 2023:

In October, the average price of Single-Family Detached Homes in Greater Vancouver continued to decline, with an average price of $15,669, representing a substantial decrease from the previous month's average of $297. This is the most significant decrease we've witnessed in the current year and the lowest October price drop in the past 25 years. 

The ongoing conflicts now involving Israel and Hamas, as well as Russia and Ukraine, have significantly eroded buyer confidence. This, in turn, has led to increased uncertainty in oil prices, inflationary pressures, and higher food prices. Additionally, buyers are currently facing unprecedented limitations on their borrowing power, which have not been seen in the past 20 years. Based on our forecasts, we anticipate that the market will continue to experience a decline until February 2024.

Presently, both the condominium and townhouse markets are in a near state of balance. Condominium prices have decreased by an average of $5,697, while townhouse prices have actually risen by $2,472.

Every Saturday at noon, we analyze 97 different city House Price Indices and present the most accurate market trends to you at VancouverMarketReports.com. Please get in touch with us if you'd like a market value update that includes a thorough analysis and forecast for your neighborhood and local market area. - Your Neighborhood.

Fraser Valley October 2023:

In October, the average price of Single-Family Detached Homes in Fraser Valley decreased by $10,502, which represents a positive change from the prior month when the average decrease was $15,966. This represents the lowest price decline for the month of October over the last decade.

The ongoing conflicts now involving Israel and Hamas, as well as Russia and Ukraine, have significantly eroded buyer confidence. This, in turn, has led to increased uncertainty in oil prices, inflationary pressures, and higher food prices. Additionally, buyers are currently facing unprecedented limitations on their borrowing power, which have not been seen in the past 20 years. Based on our forecasts, we anticipate that the market will continue to experience a decline until February 2024.

As per the latest data, both the condominium and townhouse markets are experiencing significant declines. The average price of a condominium has dropped by $7,595, while the average price of a townhouse has declined by $7,783.

Every Saturday at noon, we analyze 97 different cities' House Price Indices and present the MOST ACCURATE Market Trends to you at VancouverMarketReports.com. Please get in touch with us if you'd like a market value update that includes a thorough analysis and forecast for your neighborhood and local market area. - Your Neighborhood.

 


Fraser Valley & Chilliwack  Nov 17, 2023  (2-week update)

Current:  Fraser Valley and the Chilliwack areas are in a Stable Market averaging a 10.0 %SOLD rate.  See each city link for the full details

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by Vancouver Market Reports

 

   Which Real Estate Markets are Going Up or Down Next?
You can follow the Market Money move from the West to the East every 2 weeks. Need a lesson? Call 778-374-3744  
   

Trying to do the math?   STR   Lesson  MTI  Lesson

%SOLD rates for 1 Week below

Now do compare the %SOLD rates to HIGHEST STR below!      Archive

Now do compare the %SOLD rates to last year below! 

Now do compare the %SOLD rates to the year 2020

%SOLD rates for 1 week      Archive


%SOLD rates for 2 Weeks below

Now do compare the %SOLD rates to last year below!      Archive

Now do compare the %SOLD rates to the year 2020

Now do compare the %SOLD rates to the year 2019

Now do compare the %SOLD rates to the year 2018

Now do compare the %SOLD rates to the year 2017

Now do compare the %SOLD rates to the year 2016

Now do compare the %SOLD rates to the year 2015

Now do compare the %SOLD rates to the year 2014

Now do compare the %SOLD rates to the year 2013

Now do compare the %SOLD rates to the year 2012

Now do compare the %SOLD rates to the year 2011

 
 


Trying to do the math?   STR   Lesson  MTI  Lesson  

Now do compare the %SOLD and the MTI rates to last year!

Now do compare the %SOLD and the MTI rates to year 2020!

Now do compare the %SOLD and the MTI rates to year 2019!

Now do compare the %SOLD and the MTI rates to year 2018!

Now do compare the %SOLD and the MTI rates to year 2017!

Now do compare the %SOLD and the MTI rates to year 2016!

Now do compare the %SOLD and the MTI rates to the year 2015

Now do compare the %SOLD and the MTI rates to the year 2014

Now do compare the %SOLD and the MTI rates to the year 2013

Now do compare the %SOLD and the MTI rates to the year 2012

Now do compare the %SOLD and the MTI rates to the year 2011

 

Archives: Dec 2011

 

Real Estate Market Conditions for the Vancouver Area

 

In the Vancouver area for the Month of October 2023, 13% of the Single Family Home Sold Listings reduced their List Price by an average of $106,186. This compared to September 2023 when 13% reduced their List Price by an average of $106,186.
(Note: the other Two Week Reports ( STR and MTI ) will be more accurate market indicators than this monthly report after the middle of each month)

 

   

Real Estate Market Conditions for the Fraser Valley and Chilliwack Area

In the Fraser Valley-Chilliwack area, for the Month of October 2023, 29% of the Single Family Home Sold Listings reduced their List Price by an average of $65,891. This is compared to September 2023 when 29% reduced their List Price by an average of $65,891.

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The Best and Worst Investments in Greater Vancouver()


Peak-To-Date: Greater Vancouver Real Estate Markets AVERAGE Prices Changes 
Updated 2023 Oct 08   w8cb5a

Prices have dropped across most Cities in All Markets!

From the Peak in Mar 2022 (19 months of Sales) For Vancouver Detached Homes:

White Rock is down the most at 8.9%,
Whilst North Vancouver declined JUST 3.3%.

From the Peak in Feb 2022 (20 months of Sales) For Fraser Valley Detached Homes:

All cities continue to show a downward trend for average price changes,

 Chilliwack had the biggest drop at   22.6% 

Abbotsford had the 2nd biggest drop at   20.9% 

Chilliwack's High 50% dropped   24.7% or -$424,464
  and the city with the least drop was Maple Ridge at 14.3%


(Click Image to See the difference between the High and Low Markets)



Compare the HIGH-END and LOW-END Markets

   Houses  Detached Homes                                                                                                                                                 TOP

 
Condos  Attached        High/Low Markets                                                                                                                  TOP

Townhouses  Attached        High/Low Markets                                                                                              TOP

 

Bill Coughlin
"Realtor and Lifestyle Consultant"

 

1-778-374-3744            Bill@coughlinteam.com

eXp Realty
Independently Owned and Operated                               Key words Real Estate Investments Housing Market Trends and Forecasts for Vancouver Area

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Bill Coughlin
"Realtor and Lifestyle Consultant"

778-374-3744 cell        1-888-539-4664 Toll free                     Bill@coughlinteam.com

EXP Realty

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