Current: N.Delta has a Stable Market with 16 %SOLD rates and a 96% Sell/List ratio.
(This means that there is an average of a $39,444 Discount from Original list price)
Most Active Range: Homes below $875,000 have a high 25.6 %SOLD rate.
Least Active Range: Homes above $1.2 mill. have 10.3 %SOLD rate.
History: North Delta Year-To-Date Home Price Index* HPIp (Top 50%) shows that prices increased $2,716.
The North Delta Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $6,195.
*The RMR HPI (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: North Delta has average Listing supply; 177 homes are for sale and with 16 %SOLD monthly rates gives us about ~6 months of inventory. 16% of the active listings have reduced their price by $34,569 on average or $29,200 on median for the last month. We project North Delta to be a continued Stable market.
November's Real Estate Statistics shows Vancouver's Detached Markets values experienced an Average Monthly Price decrease of $11,521. This exceeds the $7,184 drop that we saw in the month prior. On Average, the Fraser Valley Market had a $7,425 monthly price decrease. Consumer confidence has been boosted with our new NAFTA trade agreement but offset with the continued, the GM plant shutdown in Oshawa, on tougher mortgage lending rules and pending interest rate increases. We are still forecasting a Buyer's Market across most Detached Markets for the following months.
Currently, the Condo Market continues to present a Cool Market with 87% of the Greater Vancouver (Lower Mainland) now decreasing. At the same time, 89% of Townhouse Markets are decreasing. (25 out of 28 Markets). We are still forecasting a Buyer’s Market in all Condo/Townhouse Markets for the foreseeable future. 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.