Vancouver Area   Sept 10, 2021  (2-week update)

Current:  Vancouver area Real Estate Market ranges from a Stable market to a Seller Market with an average of 17.6 %SOLD rate.   See each city for the full details.

Forecast: The Real Estate bubble burst is over! The Vancouver Market just rebounded from the $17,304 drop in July to a $9,115 INCREASE in August. That is a 77% of Single-Family Home Markets just went up! Why did this turn around? Although the number of sales is normal, we now have the lowest listing inventory since 2011. This lack of listings is partially due to the covid infections/lockdowns resulting in many sellers putting plans on hold. Here in the Fraser Valley 89% of the home market increasing by an average of $29,258. This is the largest August price increase we've seen in the last 11years. This Strong Sellers’ market is a combination of high buyer demand and one of the lowest listing inventories since 2011. We are forecasting that the majority of the Metro Vancouver and Fraser Valley Markets will continue to be a Seller's Market in the coming months.

Currently, Condos are now in a Seller's Market with 63% of the Greater Vancouver (Lower Mainland) Condo Prices increasing $3,264 on average. On the other hand, 68% Townhouse Markets (16 out of 28) prices increased $5,149 on average. 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  Sept 10, 2021  (2-week update)

Current:  Fraser Valley and the Chilliwack areas overall are in a Seller Market averaging a 31.2 %SOLD rate.  See each city link for the full details

In the Vancouver area for the Month of Aug 2021, 11% of the Single Family Home Sold Listings reduced their List Price by the Average of $115,526. This compares to July 2021, when 16% reduced their List Price by the Average of $113,575.
( 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 Aug 2021, 12% of the Single Family Home Sold Listings reduced their List Price by the average of $73,069. This compares to July 2021 when 14% reduced their List Price by the average of $71,736.

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

Now do compare the %SOLD and the MTI rates to the year 2018!

Now do compare the %SOLD and the MTI rates to the year 2017!

Now do compare the %SOLD and the MTI rates to the year 2016!

Now do compare the %SOLD and the MTI rates to the year 2015!

Now do compare the %SOLD and the MTI rates to the year 2014!

Now do compare the %SOLD and the MTI rates to the year 2013!

Now do compare the %SOLD and the MTI rates to the year 2012! Now do compare the %SOLD and the MTI rates to the year 2011!

The Best and Worst Investments in Greater Vancouver()

Peak-To-Date: Greater Vancouver Real Estate Markets AVERAGE Prices Changes 
Updated  2021 September

Prices have dropped across All Cities, All Markets!

From the Peak in June 2016 (63 months Sales) For Vancouver Detached Homes:

Vancouver Westside is down with 8.5%, Whilst White Rock went up 12.2%.

From the Peak in April 2018 (41 months Sales) For Fraser Valley Detached Homes:

All cities continue to show an upward trend, especially Abbotsford at 45.5% and  51.5% for Chilliwack

(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

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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