Current: New West & E. Burnaby's Residential Detached housing is in a Stable Market with 14 %SOLD rate.
(meaning 14 homes out of 100 sold last month with an average $38,000 Discount from the original list price)
Most Active Range: Homes below $1 mill. - $1.15 mill. have a High 29.2 %SOLD rate.
Least Active Range: Homes above $1.85 mill. have a 2.5 %SOLD rate.
History: The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Upper 50%) shows that prices decreased $32,540.
The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $51,176.
*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; 198 homes are for sale and with the 14 %SOLD Monthly Rate giving us a ~7 Months of Inventory. Another indicator: 17% of the Active Listings have Reduced their Price by $67,571 on Average and $40,000 on Median in the last month. We project New Westminster- East Burnaby Detached to be a Stable Market.
May's Real Estate Statistics shows 64% of Vancouver's Detached Markets values decreased this month. Generally, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $14,880, which is a significant decline from last month's $8,007 price drop. On the other hand, the Fraser Valley shows a steady Market with the monthly price increase of $1,580. The following month's forecasts for Detached Homes are: a continued Buyer's Market across most of Vancouver and a Stable Market over most of the Fraser Valley.
Currently, the Condo Market presents a Warmer Market with 43% of the Greater Vancouver (Lower Mainland) Condo Prices Increasing. On the same note, 46% of the Townhouse Markets are Increasing. (13 out of 28 Markets). We are forecasting a Buyers’ Market in most Condo and Townhouse Markets for the coming 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 Neighborhood.