New Westminster, E. Burnaby Housing Market Trends
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East Burnaby, New Westminster Market Update
West End NW, Queensborough, Queens Park, East Burnaby, The Heights NW and all the sub-areas of East Burnaby, New Westminster Real Estate Market Update Report.
What are New Westminster, E. Burnaby's Best and Worst Investments?
June 1, 2017
Current: New West & E. Burnaby's Residential Detached housing is in a Sellers Market with 40 %SOLD rate. (meaning 40 homes out of 100 sold last month with an average $3,000 Discount from the original list price)
Most Active Range: Homes below $850,000 have a High 85.7 %SOLD rate.
Least Active Range: Homes above $1.65 mill. have 12.0 %SOLD rate.
History: The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Upper 50%) shows that prices increased $78,835.
The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $87,406.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast:New Westminster- East Burnaby has an average Listing Supply; 61 homes are for sale and with the 40%SOLD Monthly Rate giving us a ~3 Months of Inventory. Another indicator: 3% of the Active Listings have Reduced their Price by $50,000 on Average and Median in the last month. We project New Westminster- East Burnaby Detached to be a 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.
We thank Lori Blake for his support of these New Westminster, E.Burnaby Real Estate Updates which include sub-areas such as Queensborough, Queens Park, West End NW, East Burnaby, The Heights NW etc. Contact Lori as the Local Expert.... more details.
Download the full NewWestminster.E.Burnaby.Marketupdatereport.PDF
This E.Burnaby, New Westminster Real Estate Market update includes the sub areas West End NW, Queensborough, Queens Park, East Burnaby, The Heights NW etc.
Click Image to compare previous STR/ MTI graphs
Trying to do the math? Lessons: STR MTI
Index Vancouver, Downtown-West End, Yaletown, Richmond, East Van, West Van, North Van, South Burnaby, North Burnaby, E.Burnaby-New West, Coquitlam, Port Coquitlam-Port Moody, Maple Ridge, White Rock, N. Delta, W. Surrey E. Surrey, Langley, North Langley, Chilliwack, Mission, Abbotsford, East vrs West
East Burnaby, New Westminster
Real Estate Market Analysis Reports
Disclaimer: Market predictions are exactly that: predictions. Market conditions are changing daily and you should consult with your local expert to confirm facts before making any decisions.