Vancouver Area   May 6, 2022  (2-week update)

Current:  Vancouver area Real Estate Market is in Seller's Market with an average of 19.1 %SOLD rate.   See each city for the full details.

Forecast:

Vancouver home prices increased by just $2,372 in April. This is a big drop from the $59,777 increase that we saw in March. This is partially caused by the erosion of consumer confidence with the $2/litre gas prices, interest rates, and economic woes. We are now forecasting that the majority of the Metro Vancouver Markets will be in a Buyers’ Market the next month. The Fraser Valley has already switched to a Buyer's Market with prices dropping a whopping ($43,918.)

Currently, the Condo Market is still Stable with an Average Price Increase of $1,617. Meanwhile, Townhouse Markets have switched to a Buyer's Market with an ($8,069) average price decrease. 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  May 6, 2022  (2-week update)

Current:  Fraser Valley and the Chilliwack areas overall are in a Seller Market averaging a 22.2 %SOLD rate.  See each city link for the full details

Forecast: 

The Fraser Valley's Detached Home Market has now dropped for the 2nd month in a row. The Average Home Price  decreased ($43,918) which is a big change from the $2,921 drop that we saw in March. This adjustment is partially caused by the erosion of consumer confidence with the $2/litre gas prices, interest rates, and economic woes. This is the 4th lowest monthly price decrease we have seen on record. We are now forecasting that the majority of the Fraser Valley Market continues to be in a Buyer's Market in the next coming months.

Currently, the Condo Market is still Stable with an Average Price Increase of $1,617. Meanwhile, Townhouse Markets have switched to a Buyer's Market with an ($8,069) average price decrease. 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 Aprr 2022, 5% of the Single Family Home Sold Listings reduced their List Price by the Average of $183,409. This compares to Mar 2022, when 6% reduced their List Price by the Average of $252,188.
( 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 2022, 14% of the Single Family Home Sold Listings reduced their List Price by an average of $92,014. This compares to Mar 2022 when 7% reduced their List Price by an average of $96,621.

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 March

Prices have dropped across All Cities, All Markets!

From the Peak in June 2016 (70 months Sales) For Vancouver Detached Homes:

Vancouver Westside is down with 0.5%, Whilst White Rock went up 38.1%.

From the Peak in April 2018 (48 months Sales) For Fraser Valley Detached Homes:

All cities continue to show an upward trend, especially Abbotsford at 81.1% and  84.5% for Chilliwack

(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