Vancouver Area   Nov 18, 2022  (2-week update)

Current:  Vancouver area Real Estate Market is in a Buyer's Market with an average of 11.4 %SOLD rate.   See each city for the full details.

Forecast:

67% of Vancouver Real Estate Detached Markets decreased in prices in October. The decrease was only ($13,786) on average. This is ~50% improvement from September's ($27,946) decrease. The Fraser Valley home prices dropped less than 1/2 from the previous month's decrease ($45,444) down to ($22,730). Consumer confidence is impacted by recent interest rate increases, high inflation, and stock market uncertainties. We are forecasting that the majority of the Metro Vancouver Markets will continue to be in a Buyer's Market for the next 3 months and then it could stabilize.

Currently, Both the Condo Markets and Townhouse Markets are also in a Buyer's Market, with the Average Price decrease of ($10,922) and ($12,427) 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  Nov 18, 2022  (2-week update)

Current:  Fraser Valley and the Chilliwack areas overall are in a Buyer's Market averaging a 11.1 %SOLD rate.  See each city link for the full details

Forecast: 

In October, Fraser Valley Real Estate Market shows that 78% of the Detached home's monthly price decreased by ($22,730) on average. This is a major improvement over the ($45,444) price drop in September. Consumer confidence is impacted by recent interest rate increases, high inflation, and stock market uncertainties. We are forecasting that the majority of the Fraser Valley Markets will continue to be in a Buyer's Market for the next 3 months and then it could stabilize.

Currently, Both the Condo Markets and Townhouse Markets are also in a Buyer's Market, with the Average Price decrease of ($10,922) and ($12,427) 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 Oct 2022, 23% of the Single Family Home Sold Listings reduced their List Price by an average of $134,708. This compared to Sept 2022 when 26% reduced their List Price by an average of $139,341.
(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 Oct 2022, 38% of the Single Family Home Sold Listings reduced their List Price by an average of $87,814. This is compared to Sept 2022 when 38% reduced their List Price by an average of $84,794.

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

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