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Current: Vancouver Downtown's Residential Attached housing market is a Sellers market with 49 %SOLD rate and a 100% Sell/List Ratio. (This means 49 homes out of 100 sold with an average of $2,000 discount on a sale from original list price)
Most Active Range: Homes between $300,000 - $400,000 have 87.5 %SOLD rate.
Least Active Range: Homes above $2 mill. have 31.4 %SOLD rate
History: The Vancouver Downtown Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $144,167.
The Vancouver Downtown Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $80,857.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Current listing inventories are 22% more than May 2016 meaning that we are seeing a reduced listings supply. The buyer demand is strong. We project Vancouver Downtown to be a continued sellers market.
May's Real Estate Statistics show ALL 97 Markets are in a Strong Sellers Market and by most accounts, exceeding the 2016 Market Furious Activity Levels. This Consumer Confidence is largely due in part to an increased demand from a Large Local Investor Component and Lower Inventory Levels. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Increase of $40,337, which is a dramatic increase over the $23,408 increase that we saw in April and Single Family Homes in the Fraser Valley experienced an Average Monthly Price Increase of $25,106, which is a decrease from the $32,589 increase that we saw in April.
Currently 100% of the Attached Markets are increasing at a fast pace in Greater Vancouver's 58 Markets. Last year our Emotionally Charged Single Family Markets peaked in June/July and this year we are forecasting a prolonged Sellers Market across all 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.
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