Current: Vancouver Westside ranges from a Hot Lower End Market to a Stable High End Market with average 11 %SOLD rate and a
Sale Price /List Price of 93% or $265,500 avg. sale price discount from original list price.
Most Active Range: Homes below $2,250,000 mill. have 32.4 %SOLD rate.
Least Active Range: Homes between $5 mil. - $6 mill. have 6.4 %SOLD rate
History: The Vancouver Westside Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $95,231.
The Vancouver Westside Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $123,262.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Vancouver Westside has average Listing Supply; 775 homes are for sale and with the 11 %SOLD monthly rate gives us a ~9 months of inventory. 8% of the active listings have reduced their price by $222,924 on average and $200,000 median for the last month.
October's Real Estate Statistics show our Markets have NORMALIZED with just 33% of Vancouver's Detached Markets increasing values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $10,887, which is less than the $12,693 decrease that we saw in the month prior. The Average Fraser Valley Markets are still stronger with a $1,381 monthly increase. Detached Markets values in October experienced an Average Monthly Price decrease of $1,381, which is a reduction of the $2,054 increase that we saw in the month prior. The FV is still a much stronger market than the Vancouver Detached Markets which just had a $10,887 monthly decrease. We are forecasting the beginning of Buyers Market across many Detached Markets, with Chilliwack being one of the last holdouts. We are forecasting the beginning of Buyers Market across most Detached Markets
Currently, the Attached Markets carry the day with 75% still increasing in Greater Vancouver (Lower Mainland) (43 of 58 Markets). We are forecasting a continued Seller's Market in the Attached Markets. We continue to 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.