Current: Ladner, Tsawwassen and S.Delta residential detached housing market have a 9 %SOLD rate making it a Stable's Market. (This means 9 homes out of 100 sold last month with an average $0 Discount from the original list price )
Most Active Range: Homes below $1 mill. have 18.0 %SOLD rate
Least Active Range: Homes between $1.4 mill. - $1.8 mill. have 2.9 %SOLD rate
History: Ladner, Tsawwassen and S.Delta Year-To-Date RMR Home Price Index* show that that prices increased $6,000.
*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 9 %SOLD monthly rate gives us ~11 months of inventory. 19% of the active listings have reduced their price by $67,908 on average or $50,000 median in the last month
June's Real Estate Statistics shows 64% of Vancouver's Detached Markets decreased values this last month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price decrease of $11,020 which shows an improvement from the significant drop of $16,674 that we saw in the month prior. On Average the Fraser Valley continues to show a further Market decline with their $8,889 monthly decrease from $4,469. With the latest trade tariffs, foreign buyer taxes, higher personal taxes, tough mortgage lending rules and the pending interest rate increase, we are forecasting a Buyer's Market across most Detached Markets.
Currently, the Condo Market is turning from a Hot to a Cooler Market, with 57% of the Greater Vancouver (Lower Mainland) still increasing. At the same time, just 50% of the Townhouse Markets are increasing (17 out of 28 Markets). The "I-Will-Wait" Attitude now outweighs the buyer's emotions of the "Fear-Of-Missing-Out" that we saw in early spring. We are forecasting a Buyers 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.