Vancouver Area   May 19, 2023  (2-week update)

Current:  Vancouver area Real Estate Market is in a Seller's Market with an average of 25.3 %SOLD rate.   See each city for the full details.

Forecast:

In April, the Greater Vancouver Single-Family Homes increased by a  monthly average price of $11,259. This is the 3rd consecutive monthly price increase.  Last years buyers that waited for the market bottom are actively buying now. We continue to forecast a Seller's market for the next 6 weeks before stabilizing. 

Currently, the Condo and Townhouse Markets continue to be in a Seller's Market, with average price increases of $8,861 and $8,587, respectively. Every Saturday at noon, we analyze 97 different City's House Price Indices and present the MOST ACCURATE Market Trends to you. 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  May 19, 2023  (2-week update)

Current:  Fraser Valley and the Chilliwack areas in a Seller's Market averaging a 25.6 %SOLD rate.  See each city link for the full details

Forecast: 

The Fraser Valley's Real Estate is heating up with 83% of the Detached Market increased home prices.  Single Family Homes Average Price increased by $36,449 in April. This is twice the increase of the $17,585 that we saw the month earlier. Last years buyers that waited for the market bottom are actively buying now. We forecast a Seller's market for the next 10 weeks before stabilizing. 

Currently, the Condo and Townhouse Markets continue to be in a Seller's Market, with average price increases of $8,486 and $17,215, respectively. Every Saturday at noon, we analyze 97 different City's House Price Indices and present the MOST ACCURATE Market Trends to you. 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 Apr 2023, 10% of the Single Family Home Sold Listings reduced their List Price by an average of $134,897. This compared to Mar 2023 when 13% reduced their List Price by an average of $118,907.
(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 Apr 2023, 13% of the Single Family Home Sold Listings reduced their List Price by an average of $62,770. This is compared to Mar 2023 when 21% reduced their List Price by an average of $71,447.

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 (13 months of Sales) For Vancouver Detached Homes:

White Rock S. Surrey is down the most at 11.6%,
Whilst New West declined JUST 4.6%.

From the Peak in Feb 2022 (14 months of Sales) For Fraser Valley Detached Homes:

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

 Abbostford had the biggest drop at   28.8%  

Chilliwack had the 2nd biggest drop at   27.9% 

Abbotsford's Top50% dropped   28.2% or -$637,735.
  and the city with the least drop was North Delta at 15.0%. 

(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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