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Current: Vancouver Downtown's Residential Attached housing market is a Stable market with 12 %SOLD rate and a 96% Sell/List Ratio.
(This means 11 homes out of 100 sold with an average of $32,000 discount on a sale from original list price)
Most Active Range: Homes below $450,000 have 31.0 %SOLD rate.
Least Active Range: Homes above $2.2 mill. have 3.6 %SOLD rate
History: The Vancouver Downtown Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $193,773.
The Vancouver Downtown Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $51,511.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Current listing inventories are 24% 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.
July's Real Estate Statistics shows 74% of Vancouver's Detached Home decreased in values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $22,076. This demonstrates a trend of deeper declines as evidenced from the $18,158 drop in June, $14,880 drop in May and the $8,007 drop in April. On the other hand, the Fraser Valley also shows a declined this month with the monthly price decrease of $3,176. We are forecasting Declining Detached Home Prices across most of the Fraser Valley and Vancouver Markets the next quarter.
Currently, the Condo Market presents a Cool Market with 87% of the Greater Vancouver (Lower Mainland) Condo Prices decreasing $6,482 on average. On the same note, 81% of the Townhouse Markets decreased $3,507 on average (23 out of 28 Markets). We are forecasting a Buyer’s Market in most Condo and Townhouse Markets for the coming quarter. 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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