 |
Current: East Vancouver has a Seller Market with average listing inventory, 17 %SOLD rate, a 98% Sell/List Ratio and 11 DOM.
(This means an average of a $11,000 increase on a sale from the original list price)
Most Active Range: Homes below $1.7 mill. have High 31.0 %SOLD rate.
Least Active Range: Homes above $2.9 mill have 5.2 %SOLD rate.
History: The East Vancouver Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $22,748.
The East Vancouver Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $104,529.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: East Vancouver has average Listing Supply; with 502 homes for sale and the 17 %SOLD monthly rate gives us ~6 months of Inventory. 5% of the active listings have reduced their price by $118,084 on average or $100,000 on median for the last month. We project East Vancouver to be a continued Stable Market.
Greater Vancouver April 2024:
Single-family detached home costs have increased on average by $11,953, slightly less than the $18,256 average rise observed in March. Although fixed mortgage rates have dropped significantly, it seems that buyer confidence is dependent on the Bank's policy rate falling as well, which could entice some buyers to enter the market. We forecast that the seller-friendly real estate market will switch to a buyers within the month.
In Vancouver, the average cost of 78% of condominiums has declined by $536. However, townhouses are selling for an average of $2,505 presently as opposed to $10,973. We forecast the sellers' market to end within the next month.
For the most accurate and up-to-date market trends, join us every Saturday at noon on VancouverMarketReports.com, where we analyze the winners and losers in each Lower Mainland city. For a comprehensive market value update, including forecasts and a thorough analysis of your neighborhood and local market area, please don't hesitate to contact Bill Coughlin and the Coughlin Team at 778-374-3744.
Fraser Valley April 2024:
Single-family detached home costs have increased on average by $4,367, slightly less than the $13,015 average rise observed in March. Although fixed mortgage rates have dropped significantly, it seems that buyer confidence is dependent on the Bank's policy rate falling as well, which could entice some buyers to enter the market. We forecast that the seller-friendly real estate market will switch to a buyers within the month.
In Fraser Valley, the average cost of 75% of condominiums has gone up by $3,141. However, townhouses are selling for an average of $7,202 presently as opposed to $9,716. We forecast the sellers' market to end within the next month.
For the most accurate and up-to-date market trends, join us every Saturday at noon on VancouverMarketReports.com, where we analyze the winners and losers in each Lower Mainland city. For a comprehensive market value update, including forecasts and a thorough analysis of your neighborhood and local market area, please don't hesitate to contact Bill Coughlin and the Coughlin Team at 778-374-3744.
|
