Current: Vancouver Downtown's Residential Attached housing market is a Seller market with 15 %SOLD rate and a 97% Sell/List Ratio.
(This means 15 homes out of 100 sold with an average of $23,500 discount on a sale from original list price)
Most Active Range: Homes between $500,000 - $575,000 have 30.8 %SOLD rate.
Least Active Range: Homes above $2.5 mill. have 4.1 %SOLD rate
History: The Vancouver Downtown Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $26,521.
The Vancouver Downtown Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $8,747.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Current listing inventories are 67% more than same month last year meaning that we are seeing a reduced listings supply. We project Vancouver Downtown to be a continued Seller market.
January's Real Estate Statistics continue to show a highly emotional market. We have seen 100% of the Single-Family Homes in Metro Vancouver are in a Seller's Market. The Average Monthly Price is a whopping increase $52,706! This is the Second Highest January Price increase on record since 2016. At the same time, the Fraser Valley Detached Markets went up this month with many buyers competing in bidding wars. The Monthly Price jumped up $45,108 on average. This is the Highest January Price increase on record. This seller's market is partly due to the fact that we have Record-Low listing levels. We are forecasting that in the Metro Vancouver Markets will continue to be a Seller's Market for the coming month.
Currently, Condos are in a more subdued Seller's Market with 60% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. The average monthly price increase was a mere $4,969. At the same time, 27 out of 28 Townhouse Markets increased an average of $16,662. We analyze and provides 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.