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?
Aug 1, 2017
Current: New West & E. Burnaby's Residential Detached housing is in a Sellers Market with 17 %SOLD rate. (meaning 17 homes out of 100 sold last month with an average $18,000 Discount from the original list price)
Most Active Range: Homes below $850,000 have a High 40.0 %SOLD rate.
Least Active Range: Homes between $1.35 mill. - $1.65 mill. have 11.8 %SOLD rate.
History: The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Upper 50%) shows that prices increased $74,000.
The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $69,179.
*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; 149 homes are for sale and with the 17 %SOLD Monthly Rate giving us a a ~6 Months of Inventory. Another indicator: 14% of the Active Listings have Reduced their Price by $63,182 on Average and $48,001 on Median in the last month. We project New Westminster- East Burnaby Detached to be a sellers Market.
July's Real Estate Statistics show our Markets have NORMLIZED with 52% of Vancouver's Detached Markets increasing values this month. Gone of the Exhausting Highly Emotional Charged Markets that we have seen in the last few years. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Increase of just $7,343, which is a small decrease over the $8,046 increase that we saw in June. Average Increase in Fraser Valley Markets has also normalized with a $6,045 monthly increase. Single Family Homes in the Fraser Valley experienced an Average Monthly Price Increase of $6,045, which is a major decrease over the $19,160 increase that we saw in June. Last year our Single Family Markets peaked in June/July and this year we are forecasting the end of the Sellers Market across most Detached Markets.
Currently 88% of the Attached Markets are increasing at a fast pace in Greater Vancouver (51 of 58 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.