Vancouver Area Dec 6, 2019 (2-week update)
Current: Vancouver area Real Estate Market ranges from a Sellers Market to a Buyers Market with an average of 12.8 %SOLD rate. See each city for the full details.
Forecast: November's Real Estate Statistics shows Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $5,488. This is an improvement from the $8,735 drop in October. While home prices declined for 29 consecutive months, we have built up a lot of pent-up buyers just waiting for the market to bottom out. Now some of these buyers are finally stepping back into the market in the lower-end price ranges. Today we have a stark difference between the Low-End and High-End Markets. Over the next few months, we are forecasting price stabilization in the Low-End (lower-50%) and continual decline for the High-End (Top-50%) Vancouver Detached Home Markets.
Currently, the Condo Market presents near stable Market conditions with 57% of the Greater Vancouver (Lower Mainland) Condo Prices decreasing just $308 on average. On the same note, 57% of the Townhouse Markets decreased $623 on average (12 out of 28 Markets). We are forecasting a stable 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 Dec 6, 2019 (2-week update)
Current: Fraser Valley and the Chilliwack areas overall are in a Stable Market averaging a 18.8 %SOLD rate. See each city link for the full details