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Current: New West & E. Burnaby's Residential Detached housing is in a Seller Market with 18 %SOLD rate.
(meaning 18 homes out of 100 sold last month with an average $0 Discount from the original list price)
Most Active Range: Homes below $1.3 mill. have a High 30.8 %SOLD rate.
Least Active Range: Homes above $2.5 mill. have a 4.2 %SOLD rate.
History: The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Upper 50%) shows that prices decreased $326,898.
The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $117,758.
*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; 118 homes are for sale and with the 18 %SOLD Monthly Rate giving us a ~6 Months of Inventory. We project New Westminster- East Burnaby Detached to be a Seller Market. 8% of the Active Listings have Reduced their Price by $84,232 on Average and $89,000 on Median for the last month.
Greater Vancouver May 2022:
May's Real Estate Statistics shows Vancouver's Detached Markets decreased by ($25,900) on average that is 76% of the homes dropped in value. This is the 3rd drop since Peak (Feb 2022). This is partially caused by the erosion of consumer confidence with the $2+/litre gas prices, interest rates, and economic woes. We are now forecasting that the majority of the Metro Vancouver Markets will be in a continued Buyer’s Market for the months. The Fraser Valley prices dropped a whopping ($44,898) on average.
Currently, Both the Condo Markets and Townhouse Markets are in a Buyer's Market, with an Average Price decrease of ($10,062) and ($16,759) respectively. 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 May 2022:
The 89% of Fraser Valley's Detached Home Market dropped in May and Average Prices decreased ($44,898). This is the biggest MAY drop we've seen on record. This adjustment is partially caused by the erosion of consumer confidence with the $2+/litre gas prices, interest rates, and economic woes. This is the 3rd lowest monthly price decrease of all time. We are now forecasting that the majority of the Fraser Valley Market continues to be in a Buyer's Market in the next coming months.
Currently, Both the Condo Markets and Townhouse Markets are in a Buyer's Market, with an Average Price decrease of ($10,062) and ($16,759) respectively. 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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