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!
movie Current:550pxheightTOKENS:Vancouver Market Reports
Vancouver Area Aug 3, 2018 (2-week update)
Current: Vancouver area Real Estate Market ranges from a Sellers Market to a Buyers Market with an average of 6.4 %SOLD rate. See each city for the full details.
July's Real Estate Statistics shows 76% of Vancouver's Detached Markets decreased values in this last month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price decrease of $23,555 which displays a continuous decline from $11,020 price drop we saw in the month prior. On Average, the Fraser Valley Market shows $6,842 monthly price decrease which is a minimal improvement compared with $8,889 decrease that we saw in the month prior. With the latest trade tariffs, foreign buyer taxes, higher personal taxes, tough mortgage lending rules and the pending interest rate increase, we are still forecasting a Buyer's Market across the Detached Markets.
Currently, the Condo Market continues to present a Cooler Market with 57% of the Greater Vancouver (Lower Mainland) now decreasing. At the same time, just 39% of the Townhouse Markets are increasing (11 out of 28 Markets). Both Markets remain to signify Buyer's "Watching and Waiting" behavior which is also seen at the end of the previous quarter. We are still forecasting a Buyers Market in the lower end 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 Neighbourhood.
Fraser Valley & Chilliwack Aug 3, 2018 (2-week update)
Current: Fraser Valley and the Chilliwack areas over all are in a Sellers Market averaging a 12.3 %SOLD rate. See each city link for the full details
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
Now do compare the %SOLD rates to last year below! Archive
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 AAA
Now do compare the %SOLD and the MTI rates to last year!
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 July 2018, 31% of the Single Family Home Sold Listings reduced their List Price by the Average of $104,486. This compares to the June 2018, when 26% reduced their List Price by the Average of $119,204.
( 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 July 2018, 31% of the Single Family Home Sold Listings reduced their List Price by the average of $40,217. This compares to the June 2018 when 29% reduced their List Price by the average of $39,740.
Did Vancouver Real Estate Really go up 6.6% in the last year?
True or False?
Year to Date Real Estate Price Changes
Single Family Homes Top 50% See all Markets
Here on the first Graph the Year to Date Price Changes for the Top 50% Single Family Housing Market comparing all cities in the Greater Vancouver areas is up an AVERAGE of near 4%.
Do note that in West Surrey and a few other cities prices are actually DOWN!
So the Realities are that Prices in a few cities actually went up over 6.6%.
Now compare this to the Condo Markets (Lower 50%) See all Markets
Yes the Lower 50% of the Condo Market actually went Down on Average.
Do notice that only a few cities even beat our expected 2% Canada Consumer Annual Inflation Rate.
Are Condos a good investment? When will they go up?
Low End Condos attract very little foreign investment. This Market is considered mostly a Job Driven Market!
The Condo market will recover and increase when Demand Increases eg: when we have stronger employment with good paying jobs. More Tim Horton jobs will not create many more home buyers.
The Condo Market is so easy to Over Supply with the many new high rises currently being developed this year. Single Family Lots ...in other words "DIRT" will continue to be the the one true investment that can rarely be over supplied.
Now compare this to the 2 Year Market Changes