Current: Vancouver Westside ranges from a Hot Lower End Market to a Stable High End Market with average 6 %SOLD rate and a
Sale Price /List Price of 93% or $264,900 avg. sale price discount from original list price.
Most Active Range: Homes between $4 mill. - $4.5mill. have 13.2 %SOLD rate.
Least Active Range: Homes between $5 mil. - $6 mill. have 2.4 %SOLD rate
History: The Vancouver Westside Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $78,607.
The Vancouver Westside Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $74,260.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Vancouver Westside has average Listing Supply; 604 homes are for sale and with the 6 %SOLD monthly rate gives us a ~17 months of inventory. 3% of the active listings have reduced their price by $234,529 on average and $200,000 median for the last month.
January's Real Estate Statistics shows just 44% of Vancouver's Detached Markets increased values. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price decrease of $12,262, which the same as the $12,671 decrease that we saw in the month prior. On the Average Fraser Valley still has a stronger Market with their $7,012 monthly increase. With the much tougher mortgage lending rules upon us, the higher interest rates, pending trade tariffs and chilly economic winds arriving, we are forecasting the beginning of Buyers Market across most Detached Markets.
Currently, the Condo Markets set the breakneck pace with 93% increasing in Greater Vancouver (Lower Mainland) (28 of 30 Markets). We are forecasting a continued Seller's Market in the Condo Markets for the following months. 57% of the Townhouse Markets are currently increasing (16 out of 28 Markets), but we do expect this market to shift to a Buyer’s Market in the next few months. There is a Notable difference between the top 50% of the markets which are slowing down and decreasing over the much stronger bottom 50% of the markets. 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.