Current: Ladner, Tsawwassen and S.Delta residential detached housing market have an 8 %SOLD rate making it a Buyer's Market.
(This means 8 homes out of 100 sold last month with an average $59,000 Discount from the original list price )
Most Active Range: Homes below $1 mill. have 16.7 %SOLD rate
Least Active Range: Homes between $1.2 mill. - $1.4 mill. have 1.5 %SOLD rate
History: Ladner, Tsawwassen and S.Delta Year-To-Date RMR Home Price Index* show that prices decreased $52,424.
*The RMR HPI (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Ladner, Tsawwassen and S.Delta have 306 homes for sale and with the 8 %SOLD monthly rate gives us ~13 months of inventory. 17% of the active listings have reduced their price by $47,889 on average or $29,100 median in the last month
August's Real Estate Statistics shows 90% of Vancouver's Detached Markets decreased $26,380 in this last month and that compares to the COMPLETE OPPOSITE Market we saw in August 2015 when 90% increased by an average of $$23,833. Our August 2018 Drop demonstrates a continuous decline from $23,555 price drop we saw in July 2018. On Average, the Fraser Valley Market shows a $14,299 monthly price decrease. With the latest trade tariffs, foreign buyer taxes, higher personal taxes, tough mortgage lending rules and the pending interest rate increase, we are still forecasting a Buyer's Market across the Detached Markets for the following quarter.
Currently, the Condo Market continues to present a Cool Market with 90% of the Greater Vancouver (Lower Mainland) now decreasing. At the same time, 86% of the Townhouse Markets are decreasing. (24 out of 28 Markets). Both Markets indicate a Buyer's "Watching and Waiting" behavior which was evident in the previous quarter. 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.