Vancouver Area   Jan 27, 2023  (2-week update)

Current:  Vancouver area Real Estate Market is in a Buyer's Market with an average of 10.2 %SOLD rate.   See each city for the full details.

Forecast:

In January, 62% of Vancouver Real Estate Detached Market prices decreased by just ($6,340) on average. That's an improvement from the -$8,770 drop in December. Listing inventories are still very low and when combined with our modest sales volume the market prices are stablizing. We are forecasting that the majority of the Hongcouver Markets will stabilize this February. With one year of pent-up buyers we should see price increases in March.

Currently, Both the Condo Markets and Townhouse Markets are still in a Buyer's Market, with the Average Price decrease of $802 and ($1,048) respectively. We analyze and provide 97 individual City's Home Price Indexes to supply you with 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  Jan 27, 2023  (2-week update)

Current:  Fraser Valley and the Chilliwack areas range from Buyer's Market to a Stable Market averaging a 13.0 %SOLD rate.  See each city link for the full details

Forecast: 

The Fraser Valley Real Estate Market shows that 78% of the Detached Homes in January decreased their values by ($14,803) on average. That's an improvement from the -($26,006) drop in December. Listing inventories are still very low and when combined with our poor sales volume the market prices are months from stablizing. We are forecasting that the majority of the Fraser Valley Market will stabilize in late April/ May.

Currently, Both the Condo Markets and Townhouse Markets are also in a Buyer's Market, with the Average Price decrease of $802 and ($1,048) respectively. We analyze and provide 97 individual City's Home Price Indexes to supply you with 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.

In the Vancouver area for the Month of Jan 2023, 18% of the Single Family Home Sold Listings reduced their List Price by an average of $121,618. This compared to Dec 2022 when 30% reduced their List Price by an average of $128,678.
(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 Jan 2023, 34% of the Single Family Home Sold Listings reduced their List Price by an average of $70,212. This is compared to Dec 2022 when 41% reduced their List Price by an average of $74,025.

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 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  2023 Jan 2

Prices have dropped across All Cities, All Markets!

Prices have dropped across All Cities in All Markets!

From the Peak in Mar 2022 (10 months of Sales) For Vancouver Detached Homes:

White Rock S. Surrey is down the most at 13.7%,
Whilst West Van declined JUST 4.3%.

From the Peak in Feb 2022 (11 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 30.4% 
  and had the least drop at 10.4% for North Delta. 

(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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