Vancouver Area   Mar 10, 2023  (2-week update)

Current:  Vancouver area Real Estate Market is in a Seller's Market with an average of 20.6 %SOLD rate.   See each city for the full details.

Forecast:

The Greater Vancouver Real Estate Market shows that 57% of the Detached Homes in February is increasing in price. The average price values increased by $4,653. That's is a reversal from the -($6,340) drop in January and the 1st increase we've seen since April last year. We are forecasting that the majority of the Metro Vancouver Markets will stabilize this March. With one year of pent-up buyers we should see price increases in March.

Currently, the Condo Markets and Townhouse Markets have switched to a Seller's Market, with the Average Price increases of $5,114 and $114 respectively. We analyze and provide 97 individual City's Home Price Indexes to supply you with the MOST ACCURATE Market Trends every Saturday. 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  Mar 10, 2023  (2-week update)

Current:  Fraser Valley and the Chilliwack areas range from Seller's Market to a Stable Market averaging a 20.8 %SOLD rate.  See each city link for the full details

Forecast: 

In February, 56% of Fraser Valley Real Estate Detached Market prices decreased by just ($1,739) on average. That is a significant improvement from the -($14,803) drop in January. We are forecasting that the majority of the Fraser Valley Market will stabilize in late March / earlier April.

Currently, the Condo Markets and Townhouse Markets have switched to a Seller's Market, with the Average Price increases of $3,732 and $588 respectively. We analyze and provide 97 individual City's Home Price Indexes to supply you with the MOST ACCURATE Market Trends every Saturday. 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.

In the Vancouver area for the Month of Feb 2023, 14% of the Single Family Home Sold Listings reduced their List Price by an average of $118,524. This compared to Jan 2023 when 18% reduced their List Price by an average of $121,618.
(Note: the other Two Week Reports (STR and MTI) will be more accurate market indicators than this monthly report after the middle of each month)

In the Fraser Valley-Chilliwack area, for the Month of Feb 2023, 24% of the Single Family Home Sold Listings reduced their List Price by an average of $79,006. This is compared to Jan 2023 when 34% reduced their List Price by an average of $70,212.

Now do compare the %SOLD and the MTI rates to the year 2021!

Now do compare the %SOLD and the MTI rates to the year 2020!

Now do compare the %SOLD and the MTI rates to the year 2019!

Now do compare the %SOLD and the MTI rates HISTORY

The Best and Worst Investments in Greater Vancouver()

Peak-To-Date: Greater Vancouver Real Estate Markets 
AVERAGE Prices Changes 
Updated  2023 Mar 5 

Prices have dropped across All Cities, All Markets!

From the Peak in Mar 2022 (11 months of Sales) For Vancouver Detached Homes:

White Rock S. Surrey is down the most at 13.7%,
Whilst New West declined JUST 4.2%.

From the Peak in Feb 2022 (12 months of Sales) For Fraser Valley Detached Homes:

All cities continue to show a downward trend for average price changes,

 Abbostford had the biggest drop at   29.6%  

Chilliwack had the 2nd biggest drop at   28.8% 

Abbotsford's Top50% dropped   30.0% or -$662,285.
  and the city with the least drop was North Delta at 12.7%. 

(Click Image to See the difference between the High and Low Markets)



Compare the HIGH-END and LOW-END Markets

   Houses  Detached Homes                                                                                                                                                 TOP

 
Condos  Attached        High/Low Markets                                                                                                                  TOP

Townhouses  Attached        High/Low Markets                                                                                              TOP

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                         EXPAND..Interactive Link   zzzz

Bill Coughlin
"Realtor and Lifestyle Consultant"

1-778-374-3744            Bill@coughlinteam.com

eXp Realty
Independently Owned and Operated                               Key words Real Estate Investments Housing Market Trends and Forecasts for Vancouver Area

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