Vancouver Area   June 19, 2020  (2-week update)

Current:  Vancouver area Real Estate Market ranges from a Stable market to Seller Market with an average of 17.1 %SOLD rate.   See each city for the full details.

Forecast: May's Real Estate Statistics shows that 86% of Single-Family Homes in Metro Vancouver are in a Seller's Market. The Average Monthly Prices increased $2,796 which is a slight increase over last month's increase. On the Other hand, May's Real Estate Statistics shows 61% of Fraser Valley's Detached Markets increased values this month. Fraser Valley's Single Family Homes had a $1,220 monthly price increase. We are all surprised at the Market resilience with our large drops in sales during the pandemic. It turns out that the few buyers we had competed for the very low listing inventories. Now we are seeing a trend of substantial new listings increases and are forecasting a stable Market this coming month.

Currently, Condos are in a Seller Market with 60% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. On average, the Condo Market went up $894. At the same time, the Townhouse Markets increased $1,243. That is 71% increased (20 out of 28 Markets). We analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every Saturday. 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.

Fraser Valley & Chilliwack  June 19, 2020  (2-week update)

Current:  Fraser Valley and the Chilliwack areas overall are in a Seller Market averaging a 22.8 %SOLD rate.  See each city link for the full details

In the Vancouver area for the Month of May 2020, 13% of the Single Family Home Sold Listings reduced their List Price by the Average of $121,083. This compares to April 2020, when 15% reduced their List Price by the Average of $112,924.
( Note: the other Two Week Reports ( STR and MTI ) will be more accurate market indicators than this monthly report after the middle of each month.)

In the Fraser Valley-Chilliwack area, for the Month of May 2020, 23% of the Single Family Home Sold Listings reduced their List Price by the average of $75,828. This compares to April 2020 when 15% reduced their List Price by the average of $44,242.

Now %%FIRSTNAME do compare the %SOLD and the MTI rates to the year 2018!

Now %%FIRSTNAME do compare the %SOLD and the MTI rates to the year 2017!

Now %%FIRSTNAME do compare the %SOLD and the MTI rates to the year 2016!

Now %%FIRSTNAME do compare the %SOLD and the MTI rates to the year 2015!

Now %%FIRSTNAME do compare the %SOLD and the MTI rates to the year 2014!

Now %%FIRSTNAME do compare the %SOLD and the MTI rates to the year 2013!

Now %%FIRSTNAME do compare the %SOLD and the MTI rates to the year 2012! Now %%FIRSTNAME do compare the %SOLD and the MTI rates to the year 2011!

The Best and Worst Investments in Greater Vancouver()

Peak-To-Date: Greater Vancouver Real Estate Markets AVERAGE Prices Changes 
Updated  June 2020

Prices have dropped across All Cities, All Markets!

From the Peak in June 2016 (48 months Sales) For Vancouver Detached Homes:
Vancouver Westside and White Rock are both down with 21.5% and 13.5%, respectively.

From the Peak in April 2018 (26 months Sales) For Fraser Valley Detached Homes:
Chilliwack homes also got hit with a 6.8% decrease, and Maple Ridge showed a decline with 7.2% price decrease. 

(Click Image to See the difference between the High and Low Markets)



Compare the HIGH-END and LOW-END Markets

   Houses  Detached Homes                                                                                                                                                 TOP

 
Condos  Attached        High/Low Markets                                                                                                                  TOP

Townhouses  Attached        High/Low Markets                                                                                              TOP

Bill Coughlin
"Realtor and Lifestyle Consultant"

1-778-374-3744            Bill@coughlinteam.com

eXp Realty
Independently Owned and Operated                               Key words Real Estate Investments Housing Market Trends and Forecasts for Vancouver Area

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