Current: Ladner, Tsawwassen and S.Delta residential detached housing market have a 13 %SOLD rate making it a Stable's Market. (This means 13 homes out of 100 sold last month with an average $46,900 Discount from the original list price )
Most Active Range: Homes below $1 mill. have 20.7 %SOLD rate
Least Active Range: Homes between $1.4 mill. - $1.8 mill. have 5.1 %SOLD rate
History: Ladner, Tsawwassen and S.Delta Year-To-Date RMR Home Price Index* show that that prices increased $49,123.
*The RMR HPI (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Ladner, Tsawwassen and S.Delta have 271 homes for sale and with the 13 %SOLD monthly rate gives us ~8 months of inventory. 16% of the active listings have reduced their price by $64,702 on average or $50,000 median in the last month.
April's Real Estate Statistics shows 57% of Vancouver's Detached Markets decreased values this last month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price increase of $4,857 which is an improvement over the $2,135 decrease that we saw in the month prior. On the Average Fraser Valley continues to show a much stronger Market with their $13,418 monthly increase. With many new foreign buyer taxes, the much tougher mortgage lending rules, the higher interest rates, pending trade tariffs, we are forecasting a Buyer's Market across all the High-End Detached Markets and a stabilizing of the Lower-End Detached Markets
Currently, the Condo Market is turning from Hot to a warm market, with 67% of the Greater Vancouver (Lower Mainland) still increasing. 75% of the Townhouse Markets are still increasing (21 out of 28 Markets). There is a Notable difference between the top 50% of the attached markets which are stabilizing over the much stronger bottom 50% of the markets which can see multiple offers. We are forecasting a stabilizing Market in the lower end Condo/Townhouse Markets for the following months. 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.