Current: Maple Ridge & Pitt Meadows are in a Stable Market with Average Listing inventories, a 14 %SOLD Rate and Sell Price/List Price = 96%
(Meaning there is an Average of a $27,000 Discount on a Sale from the List price)
Most Active Range: Homes below $760,000 - $800,000 have 28.6 %SOLD Rate
Least Active Range: Homes above $1.3 mill. have 0.8 %SOLD Rate.
History: The Maple Ridge, Pitt Meadows Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $20,755.
The Maple Ridge, Pitt Meadows Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $53,999.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Maple Ridge & Pitt Meadows has normal Listing supply; 560 homes are for sale and with the 14 %SOLD Monthly Rate gives us a ~7 months of inventory. Another Indicator: 17% of the Active listings have Reduced their Price by $38,098 on Average or $25,100 Median in the last month. We project Maple Ridge - Pitt Meadows Detached to continue into a Stable Market.
July's Real Estate Statistics shows 74% of Vancouver's Detached Home decreased in values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $22,076. This demonstrates a trend of deeper declines as evidenced from the $18,158 drop in June, $14,880 drop in May and the $8,007 drop in April. On the other hand, the Fraser Valley also shows a declined this month with the monthly price decrease of $3,176. We are forecasting Declining Detached Home Prices across most of the Fraser Valley and Vancouver Markets the next quarter.
Currently, the Condo Market presents a Cool Market with 87% of the Greater Vancouver (Lower Mainland) Condo Prices decreasing $6,482 on average. On the same note, 81% of the Townhouse Markets decreased $3,507 on average (23 out of 28 Markets). We are forecasting a Buyer’s Market in most Condo and Townhouse Markets for the coming quarter. 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.