Vancouver Area   Sept 22, 2023  (2-week update)

Current:  Vancouver area Real Estate Market is in Stable Market with an average of 13.7 %SOLD rate.   See each city for the full details.

Forecast:

In Greater Vancouver, the average prices of single-family detached homes took a dramatic turn in August, dropping by $8,319, a sharp contrast to the previous month's $2,661 increase. This marks the first decline since January. Our analysis suggests a shift toward a more stable real estate market. In this changing landscape with low inventory and the highest interest rates in 21 years, staying informed is crucial for buyers, sellers, and investors. Explore detailed reports for specific cities in Greater Vancouver through the city menu for a deeper understanding.

Currently, both the condominium and townhouse markets are in a state of stability. Condos have seen their average prices decrease by $3,572, while townhouses have faced a drop of $5,795.

Every Saturday at noon, we analyze 97 different city House Price Indices and present the most accurate market trends to you at VancouverMarketReports.com. Please get in touch with us if you'd like a market value update that includes a thorough analysis and forecast for your neighborhood and local market area. - Your Neighborhood.

Fraser Valley & Chilliwack  Sept 8, 2023  (2-week update)

Current:  Fraser Valley and the Chilliwack areas in Stable Market averaging a 13.0 %SOLD rate.  See each city link for the full details

Forecast: 

In the Fraser Valley, the average prices of single-family detached homes took a significant turn in August, dropping by $9,319, a sharp contrast to the previous month's modest $318 increase. This marks the first decline since February. Our analysis suggests a shift toward a more stable real estate market. In this changing landscape, with low inventory and rising interest rates, staying informed is crucial for buyers, sellers, and industry participants. Explore detailed reports for specific cities in Greater Vancouver through the city menu for a deeper understanding.

Currently, both the condominium and townhouse markets are in a state of stability. Condos have seen their average prices decrease by only $68, while townhouses have faced a drop of $2,071.

Every Saturday at noon, we analyze 97 different cities' House Price Indices and present the MOST ACCURATE Market Trends to you at VancouverMarketReports.com. Please get in touch with us if you'd like a market value update that includes a thorough analysis and forecast for your neighborhood and local market area. - Your Neighborhood.

In the Vancouver area for the Month of August 2023, 14% of the Single Family Home Sold Listings reduced their List Price by an average of $105,008. This compared to July 2023 when 11% reduced their List Price by an average of $117,417.
(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 August 2023, 23% of the Single Family Home Sold Listings reduced their List Price by an average of $63,779. This is compared to July 2023 when 20% reduced their List Price by an average of $64,358.

Now %%FIRSTNAME do compare the %SOLD and the MTI rates to the year 2021!

Now %%FIRSTNAME do compare the %SOLD and the MTI rates to the year 2020!

Now %%FIRSTNAME do compare the %SOLD and the MTI rates to the year 2019!

Now %%FIRSTNAME do compare the %SOLD and the MTI rates HISTORY

The Best and Worst Investments in Greater Vancouver()

Peak-To-Date: Greater Vancouver Real Estate Markets 
AVERAGE Prices Changes 
Updated  2023 Mar 5 

Prices have dropped across All Cities, All Markets!

From the Peak in Mar 2022 (15 months of Sales) For Vancouver Detached Homes:

East Vancouver is down the most at 9.2%,
Whilst Richmond declined JUST 4.2%.

From the Peak in Feb 2022 (16 months of Sales) For Fraser Valley Detached Homes:

All cities continue to show a downward trend for average price changes,

 Chilliwack had the biggest drop at   22.8%  

Abbotsford had the 2nd biggest drop at   20.8% 

Abbotsford's Top50% dropped   22.2% or -$502,000.
  and the city with the least drop was Surrey East at 12.7%. 

(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

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                         EXPAND..Interactive Link   zzzz

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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