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Current: Vancouver Westside ranges from a Warm Lower End Market to a Stable High-End Market with average 10 %SOLD rate and a
Sale Price /List Price of 91% or $299,500 avg. sale price discount from original list price.
Most Active Range: Homes below $2.5 mill. have 22.2 %SOLD rate.
Least Active Range: Homes between $4.5 mill. - $5 mill. have 1.1 %SOLD rate
History: The Vancouver Westside Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $413,333.
The Vancouver Westside Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $312,000.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Vancouver Westside has average Listing Supply; 716 homes are for sale and with the 10 %SOLD monthly rate gives us a ~10 months of inventory. 7% of the active listings have reduced their price by $249,625 on average and $200,000 median for the last month.
June's Real Estate Statistics shows 62% of Vancouver's Detached Markets values decreased this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $18,158, which is a continuous decline from the last 2 months' $14,880 in May and the $8,007 price drop in April. On the other hand, the Fraser Valley remains a steady Market with the monthly price increase of $1,322. The following month's forecasts for Detached Homes are: a continued Buyer's Market across most of Vancouver and a Stable Market over most of the Fraser Valley.
Currently, the Condo Market presents a Cooler Market with 73% of the Greater Vancouver (Lower Mainland) Condo Prices decreasing. On the same note, 79% of the Townhouse Markets are decreasing (22 out of 28 Markets). We are forecasting a Buyers Market in most Condo and Townhouse Markets for the coming month. 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.
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