Vancouver Area Nov 9, 2018 (2-week update)
Current: Vancouver area Real Estate Market ranges from a Sellers Market to a Buyers Market with an average of 7.4 %SOLD rate. See each city for the full details.
Forecast: October's Real Estate Statistics show our Markets have started to Stablize with 48% of Vancouver's Detached Markets increasing values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $7,184, which is less than the $9,914 decrease that we saw in the month prior. On Average, Out in the Fraser Valley, the Markets decreased $4,586 this month. Consumer confidence has been boosted with our new NAFTA-USMCA trade agreement but offset with the continued tougher mortgage lending rules and interest rate increases. We are still forecasting a Stable Market across most Detached Markets for the following month.
Currently, the Condo Market continues to present a Cool Market with 63% of the Greater Vancouver (Lower Mainland) now decreasing. At the same time, 61% of the Townhouse Markets are decreasing (11 out of 28 Markets). We are still 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.
Fraser Valley & Chilliwack Nov 9, 2018 (2-week update)
Current: Fraser Valley and the Chilliwack areas over all are in a Stable Market averaging a 12.0 %SOLD rate. See each city link for the full details