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Current: New West & E. Burnaby's Residential Detached housing is in a Stable Market with 12 %SOLD rate.
(meaning 12 homes out of 100 sold last month with an average $21,000 decrease from the original list price)
Most Active Range: Homes below $1.4 mill. - $1.7 mill. have 22.2 %SOLD rate.
Least Active Range: Homes above $2.5 mill. have 0.0 %SOLD rate.
History: The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Upper 50%) shows that prices increased $25,702.
The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $19,585.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: New Westminster- East Burnaby has an average Listing Supply; 157 homes are for sale and with the 12 %SOLD Monthly Rate giving us a ~8 Months of Inventory. We project New Westminster- East Burnaby Detached to be a Stable Market. 4% of the Active Listings have Reduced their Price by $35,388 on Average and $28,500 on Median for the last month.
Greater Vancouver October 2024:
October's real estate report shows that 52% of detached homes in Greater Vancouver lost value this month. On average, single-family homes in Metro Vancouver saw a price drop of $1,045. With mortgage rates going down, buyers will be more active, especially in the condo and townhouse markets. We forecast that the Metro Vancouver area to remain a buyer's market until the end of the year.
In October, the average price of condos decreased by $3,925, and townhouses saw a decline of $3,155. We forecast that the condo and townhouse markets will remain a buyer's market in the coming months.
To keep up with the latest market trends, tune in every Saturday at noon on VancouverMarketReports.com. We analyze which areas in the Lower Mainland are rising or falling. For a full update on market values, forecasts, and a detailed analysis of your neighborhood, reach out to Bill Coughlin and the Coughlin Team at 778-374-3744.
Fraser Valley October 2024:
October's real estate statistics show that 50% of detached homes in the Fraser Valley lost value this month. Overall, single-family homes in the Fraser Valley had an average price drop of $2,083. With mortgage rates going down, buyers will be more active, especially in the condo and townhouse markets. For now, we expect the Fraser Valley to remain a buyer's market until the end of the year.
In October, the average price of condos decreased by $1,364, and townhouses saw a decline of $940. We forecast that the condo and townhouse markets will remain a buyer's market in the coming months.
To keep up with the latest market trends, tune in every Saturday at noon on VancouverMarketReports.com. We analyze which areas in the Lower Mainland are rising or falling. For a full update on market values, forecasts, and a detailed analysis of your neighborhood, reach out to Bill Coughlin and the Coughlin Team at 778-374-3744.
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