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Current: N.Delta has a Seller Market with 22 %SOLD rates and a 98% Sell/List ratio.
(This means that there is an average of a $16,800 Discount from Original list price)
Most Active Range: Homes between $875,000 - $940,000 have a high 52.4 %SOLD rate.
Least Active Range: Homes above $1.2 mill. have 12.3 %SOLD rate.
History: North Delta Year-To-Date Home Price Index* HPIp (Top 50%) shows that prices decreased $15,010.
The North Delta Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $1,077.
*The RMR HPI (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: North Delta has average Listing supply; 123 homes are for sale and with 22 %SOLD monthly rates gives us about ~5 months of inventory. 5% of the active listings have reduced their price by $37,854 on average or $25,000 on median for the last month. We project North Delta to be a continued Seller market.
February's Real Estate Statistics shows a Normal Spring Market! Single Family Homes in Metro Vancouver experienced an Average Monthly Price increase of $2,749 a real improvement from the $3,176 price decrease the month prior. Finally, we have ended 32 consecutive months of dropping home prices. On the other hand, Single Family Homes in the Fraser Valley Market had a $4,302 monthly price increase, this is our most substantive recovery since the Peak in April 2018 with 94% of Detached Markets increased values. The Coronavirus issue now moves us into uncharted territory. The pent-up buyer demand is still there! Over the next few months, we are forecasting modest seasonal price increases in most Vancouver Detached Home Markets.
Currently, the Condo Market presents Seller Market conditions with 83% of the Greater Vancouver (Lower Mainland) Condo Prices increasing $1,428 on average. At the same time, 68% of the Townhouse Markets increased $831 on average (19 out of 28 Markets). We are forecasting increasing Condo and Townhouse Markets in the coming months. 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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