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Current: New West & E. Burnaby's Residential Detached housing is in a Seller Market with 24 %SOLD rate.
(meaning 18 homes out of 100 sold last month with an average $7,500 Discount from the original list price)
Most Active Range: Homes between $1.3 mill - $1.45 mill. have a High 38.1 %SOLD rate.
Least Active Range: Homes above $1.7 mill. have a 11.6 %SOLD rate.
History: The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Upper 50%) shows that prices decreased $297,095.
The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $226,374
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast:New Westminster- East Burnaby has an average Listing Supply; 78 homes are for sale and with the 24 %SOLD Monthly Rate giving us a ~6 Months of Inventory. Another indicator: 3% of the Active Listings have Reduced their Price by $138,667 on Average and $90,000 on Median in the last month. We project New Westminster- East Burnaby Detached to be a Seller Market.
Greater Vancouver December 2021:
The Vancouver Market Monthly Average Price increased $37,949. This is 2nd highest price increase on record for the month of December. Why such a strong Sellers Market? Although the number of sales are near normal, we now have the lowest listing inventory in decades. 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 90% of the Greater Vancouver (Lower Mainland) Condo Prices increasing $12,030 on average. On the other hand, 100% of the Townhouse Markets (28 out of 28) prices increased $26,206 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 December 2021:
100% of the Fraser Valley Detached Markets went up for the month of December with $60,154 monthly average price increase. An all time record!! This increase is even $19,438 more than December 2020. Why such a strong Sellers Market? We now have the lowest listing inventories in decades, 50% lower than usual. This is partially due to the covid infections/lockdowns resulting in many sellers putting plans on hold.
Currently, Condos continue to be in a Seller's Market with 90% of the Greater Vancouver (Lower Mainland) Condo Prices increasing $12,030 on average. On the other hand, 100% of the Townhouse Markets (28 out of 28) prices increased $26,206 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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