Current: Ladner, Tsawwassen and S.Delta residential detached housing market have a 7 %SOLD rate making it a Buyer's Market.
(This means 7 homes out of 100 sold last month with an average $73,950 Discount from the original list price )
Most Active Range: Homes below $1 mill. have 13.0 %SOLD rate
Least Active Range: Homes between $1.8 mill. have 1.9 %SOLD rate
History: Ladner, Tsawwassen and S.Delta Year-To-Date RMR Home Price Index* show that prices decreased $140,820.
*The RMR HPI (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Ladner, Tsawwassen and S.Delta have 247 homes for sale and with the 7 %SOLD monthly rate gives us ~14 months of inventory. 10% of the active listings have reduced their price by $46,312 on average or $50,000 median in the last month.
December's Real Estate Statistics shows 72% of Vancouver's Detached Markets values experienced an Average Monthly Price decrease of $11,497 which is close to the $11,521 November price drop. On Average, the Fraser Valley Market shows a $7,226 monthly price decrease. Consumer confidence has been damped with the Volatile Stock Markets, tougher mortgage lending rules, and pending interest rate increases. We are forecasting a Buyer's Market across most Detached Markets for the following months.
Currently, the Condo Market presents a Cool Market with 67% of the Greater Vancouver (Lower Mainland) now decreasing. At the same time, 68% of Townhouse Markets are decreasing. (19 out of 28 Markets). Both Markets still indicate a Buyer's "Wait-To-Drop-More" behaviour for the last 2 quarters. We are forecasting a Buyers 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.