Current: Maple Ridge & Pitt Meadows are in a Stable Market with Average Listing inventories, a 14 %SOLD Rate and Sell Price/List Price = 98%
(Meaning there is an Average of a $19,450 Discount on a Sale from the List price)
Most Active Range: Homes between $800,000 - $900,000 have 25.0 %SOLD Rate
Least Active Range: Homes above $1.25 mill. have 7.9 %SOLD Rate.
History: The Maple Ridge, Pitt Meadows Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $21;061.
The Maple Ridge, Pitt Meadows Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $12,132.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Maple Ridge & Pitt Meadows has normal Listing supply; 373 homes are for sale and with the 14 %SOLD Monthly Rate gives us a ~7 months of inventory. Another Indicator: 9% of the Active listings have Reduced their Price by $32,434 on Average or $20,900 Median in the last month. We project Maple Ridge - Pitt Meadows Detached to continue into a Stable Market.
May's Real Estate Statistics shows that 86% of Single-Family Homes in Metro Vancouver are in a Seller's Market. The Average Monthly Prices increased $2,796 which is a slight increase over last month's increase. On the Other hand, May's Real Estate Statistics shows 61% of Fraser Valley's Detached Markets increased values this month. Fraser Valley's Single Family Homes had a $1,220 monthly price increase. We are all surprised at the Market resilience with our large drops in sales during the pandemic. It turns out that the few buyers we had competed for the very low listing inventories. Now we are seeing a trend of substantial new listings increases and are forecasting a stable Market this coming month.
Currently, Condos are in a Seller Market with 60% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. On average, the Condo Market went up $894. At the same time, the Townhouse Markets increased $1,243. That is 71% increased (20 out of 28 Markets). We analyze and provide 97 individual City's Home Price Indexes to supply you 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.