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Current: Vancouver Downtown's Residential Attached housing market is a Stable market with 12 %SOLD rate and a 98% Sell/List Ratio.
(This means 12 homes out of 100 sold with an average of $18,000 discount on a sale from original list price)
Most Active Range: Homes befow $600,000 have 23.0 %SOLD rate.
Least Active Range: Homes between $2.5 mill. - $4.0 mill. have 1.8 %SOLD rate
History: The Vancouver Downtown Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $61,215.
The Vancouver Downtown Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $20,520.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Current listing inventories are 8% less than same month last year meaning that we are seeing a reduced listings supply. We project Vancouver Downtown to be a continued Stable market.
Greater Vancouver September 2022:
In September, 86% of the Vancouver Real Estate Detached Markets' monthly prices decreased by ($27,946) on average; that's a 13% decline from last month's drop of $21,611. On the other hand, the Fraser Valley home prices dropped even more to ($45,444) on average. We are seeing continued downward pressures due to the increasing interest rates, high inflation, and stock market jitters. We are forecasting that the majority of the Metro Vancouver Markets will continue to be in a Buyer's Market for the next 6 months.
Currently, Both the Condo Markets and Townhouse Markets are also in a Buyer's Market, with an Average Price decrease of ($6,326) and ($13,326) 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 September 2022:
The Fraser Valley Real Estate Market shows that 94% of the Detached homes' monthly prices decreased in September by ($45,444) on average. This is the 2nd lowest price change we've seen on Record for the month of September. We are seeing continued downward pressures due to the increasing interest rates, high inflation, and stock market jitters. We are forecasting that the majority of the Fraser Valley Markets will continue to be in a Buyer's Market for the next 6 months.
Currently, Both the Condo Markets and Townhouse Markets are also in a Buyer's Market, with an Average Price Decrease of ($6,326) and ($13,326) 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.
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