Vancouver Area   Feb 14, 2020  (2-week update)

Current:  Vancouver area Real Estate Market ranges from a Sellers Market to a Buyers Market with an average of 12.6 %SOLD rate.   See each city for the full details.

Forecast: January's Real Estate Statistics shows that we are almost a stable market! Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $3,176 which is slightly up from $1,777 price decrease the month prior (the inclement weather dampened sales.) The Last 31 consecutives months-long dropping market means that we have built up some pent-up buyers just waiting for the market to the bottom out, and for them to start buying. The Coronavirus growth damages any residual Chinese Foreign investors. Over the next few months, we are forecasting price stabilization in most Vancouver Detached Home Markets. On the other hand, Single Family Homes in the Fraser Valley Market had a $1,642 monthly price increase, which is similar to last month’s price increase of $1,355. We are forecasting the Detached Home Prices to increase across most of the Fraser Valley and the Lower-End Vancouver Markets in the coming months

Currently, the Condo Market presents near stable Market conditions with 73% of the Greater Vancouver (Lower Mainland) Condo Prices increasing just $730 on average. At the same time, 53% of the Townhouse Markets increased $43 on average (22 out of 28 Markets). We are forecasting increasing Condo and Townhouse Markets in the coming months. We analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every 2 weeks. 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  Feb 14, 2020  (2-week update)

Current:  Fraser Valley and the Chilliwack areas overall are in a Stable Market averaging a 18.2 %SOLD rate.  See each city link for the full details

In the Vancouver area for the Month of January 2020, 26% of the Single Family Home Sold Listings reduced their List Price by the Average of $116,572. This compares to December 2019, when 25% reduced their List Price by the Average of $111,532.
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 January 2020, 24% of the Single Family Home Sold Listings reduced their List Price by the average of $36,455. This compares to December 2019 when 29% reduced their List Price by the average of $32,000.

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!

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Peak-To-Date: Greater Vancouver Real Estate Markets AVERAGE Prices Changes 
Updated  Feb 2020

Prices have dropped across All Cities, All Markets!

From the Peak in June 2017 (31 months Sales) For Vancouver Detached Homes:
Vancouver Westside and White Rock are both down with 24.7% and 14.7%, respectively.

From the Peak in April 2018 (21 months Sales) For Fraser Valley Detached Homes:
Chilliwack homes also got hit with a 8.8% decrease, and Maple Ridge showed a decline with 10.4% price decrease. 

(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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