Current: Maple Ridge & Pitt Meadows are in a Sellers Market with Average Listing inventories, a 23 %SOLD Rate and Sell Price/List Price = 99% (Meaning there is an Average of a $6,650 Discount on a Sale from the List price)
Most Active Range: Homes between $750,000 - $850,000 have 39.2 %SOLD Rate
Least Active Range: Homes above $1.1 mill. have 11.3 %SOLD Rate.
History: The Maple Ridge, Pitt Meadows Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $103,491.
The Maple Ridge, Pitt Meadows Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $108,070.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Maple Ridge & Pitt Meadows has normal Listing supply; 340 homes are for sale and with the 23 %SOLD Monthly Rate gives us a ~4 months of inventory. Another Indicator: 9% of the Active listings have Reduced their Price by $31,152 on Average or $27,000 Median in the last month. We project Maple Ridge - Pitt Meadows Detached to continue into a Sellers Market.
November's Real Estate Statistics show 67% of Vancouver's Detached Markets increasing values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price increase of $3,870, which is much better than the $10,887 decrease that we saw in the month prior. The Average Fraser Valley has a stronger Market with their $6,132 monthly increase, which is better than the $1,381 increase that we saw in the month prior. With the pending higher mortgage rates, much tougher mortgage lending rules, pending trade tariffs and the chilly economic winds arriving starting in January, we are forecasting the beginning of Buyers Market across most Detached and Townhouse Markets.
Currently, the Condo Markets set the pace with 83% still increasing in Greater Vancouver (Lower Mainland) (25 of 30 Markets). We are forecasting a continued Seller's Market in the Condo Markets for the following month. 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.