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Current: Vancouver Downtown's Residential Attached housing market is a Seller market with 18 %SOLD rate and a 98% Sell/List Ratio.
(This means 19 homes out of 100 sold with an average of $12,900 discount on a sale from original list price)
Most Active Range: Homes below $500,000 have 37.5 %SOLD rate.
Least Active Range: Homes between $1.8 mill. - $2.75 mill. have 5.3 %SOLD rate
History: The Vancouver Downtown Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $34,425.
The Vancouver Downtown Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $20,965.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Current listing inventories are 18% more than same month last year meaning that we are seeing a reduced listings supply. We project Vancouver Downtown to be a continued Seller market.
Greater Vancouver October 2021:
The Vancouver Market Monthly Average Price increased $33,054 in October. This is the 2nd highest October price increase since 2015. Why such a strong Seller’s Market? Although the number of sales is near 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. We are forecasting that the majority of the Metro Vancouver Markets will continue to be a Seller's Market in the coming months.
Currently, Condos continue to be in a Seller's Market with 67% of the Greater Vancouver (Lower Mainland) Condo Prices increasing $9,255 on average. On the other hand, 82% of the Townhouse Markets (23 out of 28) prices increased $15,199 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 October 2021:
The Fraser Valley Home Market Monthly Average Prices jumped up $40,869 on average. This is the largest October price increase we have seen in 11years. Why such a strong Seller’s Market? We now have the lowest listing inventories since 2011, 50% lower than usual. This is partially due to the covid infections/lockdowns resulting in many sellers putting plans on hold.
Currently, Condos are now in a Seller's Market with 67% of the Greater Vancouver (Lower Mainland) Condo Prices increasing $9,255 on average. On the other hand, 82% Townhouse Markets (23 out of 28) prices increased $15,199 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.
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