Current: Vancouver Westside ranges from a Hot Lower End Market to a Stable High End Market with average 5 %SOLD rate and a
Sale Price /List Price of 93% or $198,000 avg. sale price discount from original list price.
Most Active Range: Homes between $2.25 mill. - $2.5mill. have 19.2 %SOLD rate.
Least Active Range: Homes between $6 mil. - $8 mill. have 0.9 %SOLD rate
History: The Vancouver Westside Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $25,280.
The Vancouver Westside Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $121,517.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Vancouver Westside has average Listing Supply; 493 homes are for sale and with the 5 %SOLD monthly rate gives us a ~20 months of inventory. 3% of the active listings have reduced their price by $239,462 on average and $200,000 median for the last month.
December's Real Estate Statistics show 51% of Vancouver's Detached Markets increasing values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price decrease of $12,671, which is a big drop from the $3,870 increase that we saw in the month prior. On the an Average Monthly Price increase of $5,518, which is close to the $6,132 increase that we saw in the month prior. With the much tougher mortgage lending rules upon us, the pending higher interest rates, 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 67% still increasing in Greater Vancouver (Lower Mainland) (20 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.