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Vancouver Area Aug 9, 2024 (2-week update)
Current: Vancouver area Real Estate Market is in Buyer's Market with an average of 9.1 %SOLD rate. See each city for the full details.
Forecast:
In July, the average price of single-family houses in Greater Vancouver took a dramatic turn. In June, the average price was up $9,848. But then, it plummeted a staggering $13,363 .This dramatic reversal sent shockwaves through the market! Despite the recent two months of lower interest rates, home buyers resistance continues to put pressure on the house prices. We believe that over the next two months, the Metro Vancouver area will continue to be in a Buyer's Market.
While the average cost of townhouses increased by $857 last month, the average cost of condos decreased by $4,911. For the upcoming few months, we forecast that Vancouver's condo and townhouse markets will firmly move into a Buyers’ Market.
For the latest market trends, join us every Saturday at noon on VancouverMarketReports.com. We forecast which areas in the Lower Mainland are going up or going down. For a complete update on market values, forecasts, and a detailed analysis of your neighborhood, contact Bill Coughlin and the Coughlin Team at 778-374-3744.
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Fraser Valley & Chilliwack Aug 9, 2024 (2-week update)
Current: Fraser Valley and the Chilliwack areas in Buyer's Market averaging a 9.3 %SOLD rate. See each city link for the full details
Forecast:
July's average price of single-family houses in the Fraser Valley decreased by $8,707, marking the first decrease of the year. Despite the recent two months of lower interest rates, home buyers’ resistance continues to put pressure on the house prices. We forecast that over the next two months, the Fraser Valley will continue to be in a Buyer's Market.
The average cost of condos dropped by $2,755 last month, while the cost of townhouses stabilized. For the upcoming few months, we forecast that Vancouver's condo and townhouse markets have been steady and will be favorable to buyers.
For the latest market trends, join us every Saturday at noon on VancouverMarketReports.com. We discuss which areas in the Lower Mainland are going up or going down. For a complete update on market values, forecasts, and a detailed analysis of your neighborhood, contact Bill Coughlin and the Coughlin Team at 778-374-3744.
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