Current: Vancouver Downtown's Residential Attached housing market is a Sellers market with 30 %SOLD rate and a 100% Sell/List Ratio. (This means 30 homes out of 100 sold with an average of $0 discount on a sale from original list price)
Most Active Range: Homes below $300,000 have 75.0 %SOLD rate.
Least Active Range: Homes above $2 mill. have 11.2 %SOLD rate
History: The Vancouver Downtown Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $232,000.
The Vancouver Downtown Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $135,212.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Current listing inventories are 6% less than same month in 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
November's Real Estate Statistics show 67% of Vancouver's Detached Markets increasing values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price increase of $3,870, which is much better than the $10,887 decrease that we saw in the month prior. The Average Fraser Valley has a stronger Market with their $6,132 monthly increase, which is better than the $1,381 increase that we saw in the month prior. With the pending higher mortgage rates, much tougher mortgage lending rules, pending trade tariffs and the chilly economic winds arriving starting in January, we are forecasting the beginning of Buyers Market across most Detached and Townhouse Markets.
Currently, the Condo Markets set the pace with 83% still increasing in Greater Vancouver (Lower Mainland) (25 of 30 Markets). We are forecasting a continued Seller's Market in the Condo Markets for the following 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 Neighbourhood.