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Current: New West & E. Burnaby's Residential Detached housing is in a Seller Market with 25 %SOLD rate.
(meaning 25 homes out of 100 sold last month with an average $39,000 Discount from the original list price)
Most Active Range: Homes between $1.125 mill. - $1.3 mill. have a High 31.0 %SOLD rate.
Least Active Range: Homes between $1.45 mill. - $1.9 mill. have a 19.0 %SOLD rate.
History: The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Upper 50%) shows that prices decreased $20,366.
The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $5,290.
*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; 128 homes are for sale and with the 25 %SOLD Monthly Rate giving us a ~4 Months of Inventory. Another indicator: 7% of the Active Listings have Reduced their Price by $42,900 on Average and $40,000 on Median in the last month. We project New Westminster- East Burnaby Detached to be a Seller Market.
August's Real Estate Statistics shows that 97% of Single-Family Homes in Metro Vancouver are in a Seller's Market. The Average Monthly Prices increased $5,594 which is the highest increase we have seen this year or for any August on record. On the Other hand, All Fraser Valley Detached Markets went up this month with $4,373 monthly price increase on average. Thus, we are forecasting that in the Metro Vancouver Markets will Seller's Market continue for the coming month.
Currently, Condos are also in a Seller Market with 90% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. On average, the Condo Market went up $1,036. At the same time, the Townhouse Markets increased $1,885. That is 23 out of 28 Markets increased (83%). We analyze and provide 97 individual City's Home Price Indexes to supply you 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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