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Current: Vancouver Downtown's Residential Attached housing market is a Seller market with 20 %SOLD rate and a 98% Sell/List Ratio.
(This means 15 homes out of 100 sold with an average of $18,000 discount on a sale from original list price)
Most Active Range: Homes between $575,000 - $650,000 have 42.7 %SOLD rate.
Least Active Range: Homes above $2.5 mill. have 6.2 %SOLD rate
History: The Vancouver Downtown Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $49,000.
The Vancouver Downtown Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $5,985.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Current listing inventories are 40% 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.
March's Real Estate Statistics show that we are still in the highly emotional "Gold Fever"market. We have seen 100% of the Single-Family Homes in Metro Vancouver go up this month with most buyers competing in bidding wars. The Average Monthly Price increase is a whopping $84,263! This is the Highest Price increase on record since 2016. ON the other hand, 100% of Fraser Valley Detached Markets went up this month with a whopping $60,306 monthly price changes on average. This seller's market is partly due to the fact that we have Low listing levels. We are forecasting that in the Metro Vancouver Markets will continue to be a Strong Seller's Market for the coming month.
Currently, Condos are in a more subdued Seller's Market with 100% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. The average monthly price increase was a $17,534. At the same time, all Townhouse Markets increased an average of $37,065. We analyze and provides 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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