Vancouver Area Nov 22, 2019 (2-week update)
Current: Vancouver area Real Estate Market ranges from a Sellers Market to a Buyers Market with an average of 13.3 %SOLD rate. See each city for the full details.
Forecast: October's Real Estate Statistics shows 62% of Vancouver's Detached Home decreased in values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $8,735. This is a positive improvement from the $13,210 and the $9,192 drops that we saw in August and September respectively. On the other hand, the Fraser Valley also had a monthly price decrease of $4,655. The Chinese National Holiday was the 1st week of October and helped bring a few extra sales in the Hongcouver cities, we are now forecasting further Declines in Detached Home Prices across most of Vancouver Markets in the next month.
Currently, the Condo Market presents a Cool Market with 72% of the Greater Vancouver (Lower Mainland) Condo Prices decreasing $1,153.75 on average. Many new Condo Projects are now competing against the existing market. On the same note, 54% of the Townhouse Markets decreased $477 on average (15 out of 28 Markets). We are forecasting a Buyer's Market in most Condo and Townhouse Markets for the coming month. 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.
Fraser Valley & Chilliwack Nov 22, 2019 (2-week update)
Current: Fraser Valley and the Chilliwack areas overall are in a Stable Market averaging a 15.7 %SOLD rate. See each city link for the full details