Vancouver Area   Dec 2, 2022  (2-week update)

Current:  Vancouver area Real Estate Market is in a Buyer's to a Stable Market with an average of 11.0 %SOLD rate.   See each city for the full details.

Forecast:

In November, 76% of Vancouver Real Estate Detached Market prices decreased by ($16,683) on average. Chinese New Year is on January 25, and we do expect more cash incoming to certain Asian focused cities. This demand will be tempered with the "Canada's Foreign Buyer Ban" beginning in January. This Federal Act prohibits non-citizens and non-permanent residents from purchasing residential property in Canada for two years. We are still forecasting that the majority of the Hongcouver Markets will stabilize in January 2023. This cash influx should trickle out to the Fraser Valley by March. We are forecasting that the majority of the Hongcouver Markets will continue to stabilize in January 2023. This cash influx should trickle out to the Fraser Valley by March.

Currently, Both the Condo Markets and Townhouse Markets are also in a Buyer's Market, with the Average Price decrease of ($9,534) and ($12,139) 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  Dec 02, 2022  (2-week update)

Current:  Fraser Valley and the Chilliwack areas range from Buyer's Market to a Stable Market averaging a 12.3 %SOLD rate.  See each city link for the full details

Forecast: 

Fraser Valley Real Estate Market shows 94% of the Detached Homes in November decreased their values by ($28,101) on average. Chinese New Year is January 25, 2023 and do expect more cash incoming to Asian focused cities. This demand will be tempered with the "Canada's Foreign Buyer Ban" beginning in January. This Federal Act prohibits non-citizens and non-permanent residents from purchasing residential property in Canada for two years. We are still forecasting that the majority of the Hongcouver Markets will stabilize in January 2023. This cash influx should trickle out to the Fraser Valley by March and start to stabilize most city's detached markets.

Currently, Both the Condo Markets and Townhouse Markets are also in a Buyer's Market, with the Average Price decrease of ($9,534) and ($12,139) 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 Nov 2022, 27% of the Single Family Home Sold Listings reduced their List Price by an average of $131,213. This compared to Oct 2022 when 23% reduced their List Price by an average of $134,708.
(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 Nov 2022, 41% of the Single Family Home Sold Listings reduced their List Price by an average of $75,828. This is compared to Oct 2022 when 38% reduced their List Price by an average of $87,814.

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  2022 Nov

Prices have dropped across All Cities, All Markets!

From the Peak in Mar 2022 (7 months Sales) For Vancouver Detached Homes:

West Vancouver is down with 12.5%, Whilst White Rock declined 11.2%.

From the Peak in Feb 2022 (8 months Sales) For Fraser Valley Detached Homes:

All cities continue to show a downward trend, especially Abbotsford at 26.5% and
  24.1% for Chilliwack on average price changes. 

(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

See all Markets