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Current: Vancouver Downtown's Residential Attached housing market is a Stable market with 11 %SOLD rate and a 97% Sell/List Ratio.
(This means 11 homes out of 100 sold with an average of $21,800 discount on a sale from original list price)
Most Active Range: Homes between $500,000 - $580,000 have 21.1 %SOLD rate.
Least Active Range: Homes between $1.65 mill. - $2.5 mill. have 4.5 %SOLD rate
History: The Vancouver Downtown Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $39,950.
The Vancouver Downtown Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $8,618.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Current listing inventories are 43% more than same month last year meaning that we are seeing a reduced listings supply. We project Vancouver Downtown to be a continued Stable market.
October's Real Estate Statistics shows that in this highly emotional market that all 100% of the Single-Family Homes in Metro Vancouver are in a Seller's Market. This is the 1st time all markets are rising since May 2017. The Average Monthly Prices increased $19,518 which is the highest increase we have seen this year or for any October on record. Same in Fraser Valley, 94% of market increased with $23,580 monthly price increase. Thus, we are forecasting that Lower Mainland Markets (both fraser Valley and Metro Vancouver Markets) will continue to be Seller’s Market for the coming month.
Currently, Condos are also in a much cooler Seller's Market with 60% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. The average monthly price increase was $1,238. At the same time, 27 out of 28 Townhouse Markets increased an average of $2,980. 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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