Vancouver Area July 22 2016 (2 week update)
Current: Vancouver area Real Estate Market ranges from a Stable to a Sellers Market with a strong 16.2 %SOLD rate. See each city for the full details.
Forecast: June's Real Estate Statistics indicate that the Cashing-Out-Vancouverites who are moving out to the Suburbs continue to drive the Real Estate Engine in the Fraser Valley. While the Monthly Price increases are continuing in the Fraser Valley, Many markets in Greater Vancouver are now experiencing a Seasonal Slowing. Single Family Houses in the Fraser Valley have increased an Average Monthly Average of $22,741 which is down from the $31,107 increase we saw in May. Single Family Houses in the Fraser Valley have increased an Average Monthly Average of $22,741 which is down from the $31,107 increase we saw in May. Both the Townhouse and Condominium Markets (58 of 58 Markets reporting) have price increases, and for the first time are stronger than some Single Family Home market places.
On another note, Vancouver Market Reports has always tracked Market activity in countries we identified as the most influential in our Foreign Buyers. Knowing what is going on in those countries gives us secondary insight and the ability to project their increasing or decreasing influence in our Marketplace. We are proud to announce the release of our New Home Price Index for Hong Kong, Beijing and Shanghai which is built and calculated from Sales Data from as early as 2000. This addition now means that we now provide Comparative Investment Analysis for over 150 Market Areas through Greater Vancouver, 7 other Canadian Cities and 15 other Cities around the World.
We forecast the Off-shore Buyers and energized Local Buyers to continue at a more moderate pace for the next few months. Many markets are now converting into a Buyers Market.
Fraser Valley & Chilliwack July 22 2016 (2 week update)
Current: Fraser Valley and the Chilliwack areas over all are in a Buyers/Stable Market averaging a 21.2 %SOLD rate. See each city link for the full details