|
Current: Maple Ridge & Pitt Meadows are in a Stable Market with Average Listing inventories, a 11 %SOLD Rate and Sell Price/List Price = 98%
(Meaning there is an Average of a $19,900 Discount on a Sale from the List price)
Most Active Range: Homes between $700,000 - $800,000 have 18.5 %SOLD Rate
Least Active Range: Homes above $1.25 mill. have 7.1 %SOLD Rate.
History: The Maple Ridge, Pitt Meadows Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $20,450.
The Maple Ridge, Pitt Meadows Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $10,143.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Maple Ridge & Pitt Meadows has normal Listing supply; 387 homes are for sale and with the 11 %SOLD Monthly Rate gives us a ~9 months of inventory. Another Indicator: 7% of the Active listings have Reduced their Price by $24,922 on Average or $19,200 Median in the last month. We project Maple Ridge - Pitt Meadows Detached to continue into a Stable Market.
April's Real Estate Statistics shows that 76% of Single-Family Homes in Metro Vancouver have been in a Seller's Market. The Average Monthly Price increase was $2,100 which is a small decline from last month's $4,090 gain. On the other hand, Fraser Valley’s Detached Markets increased values this month. Single Family Homes had a $2,239 monthly price increase. Yes, both sales and inventory have dropped in the last month and the sell-through rates are falling enough to become a Buyer's Market. With that being said, we are not going to forecast the Markets this coming month, due to the Stock Market volatility and the Pandemic on hand.
Currently, Condos are in a Seller Market with 77% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. On average, the Condo Market went up $1,476. At the same time, the Townhouse Market increased $1,366 on average. That is 79% increased (22 out of 28 Markets). 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.
|
