Current: New West & E. Burnaby's Residential Detached housing is in a Stable Market with 14 %SOLD rate.
(meaning 14 homes out of 100 sold last month with an average $38,000 Discount from the original list price)
Most Active Range: Homes below $1 mill. - $1.15 mill. have a High 29.2 %SOLD rate.
Least Active Range: Homes above $1.85 mill. have a 2.5 %SOLD rate.
History: The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Upper 50%) shows that prices decreased $32,540.
The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $51,176.
*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; 198 homes are for sale and with the 14 %SOLD Monthly Rate giving us a ~7 Months of Inventory. Another indicator: 17% of the Active Listings have Reduced their Price by $67,571 on Average and $40,000 on Median in the last month. We project New Westminster- East Burnaby Detached to be a Stable Market.
June's Real Estate Statistics shows 62% of Vancouver's Detached Markets values decreased this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $18,158, which is a continuous decline from the last 2 months' $14,880 in May and the $8,007 price drop in April. On the other hand, the Fraser Valley remains a steady Market with the monthly price increase of $1,322. The following month's forecasts for Detached Homes are: a continued Buyer's Market across most of Vancouver and a Stable Market over most of the Fraser Valley.
Currently, the Condo Market presents a Cooler Market with 73% of the Greater Vancouver (Lower Mainland) Condo Prices decreasing. On the same note, 79% of the Townhouse Markets are decreasing (22 out of 28 Markets). We are forecasting a Buyers Market in most Condo and Townhouse Markets for the coming month. 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.