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Current: Port Moody's 7 %SOLD Rate indicates a Buyer Market.
(Meaning 7 Homes out of 100 Sold Last Month with an Average $109,000 decrease from the Original List price).
Most Active Range: Homes below $1.7 mill. have 21.1 %SOLD rate.
Least Active Range: Homes between $2.2 mill. - $3.3 mill. have 4.0 %SOLD rate.
History: Pt Moody YTD RMR HPI* shows that prices increased $157,001.
*The RMR HPI (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Port Moody has Average Listing Supply; 55 homes are for sale and with the 7 %SOLD Monthly Rate gives us a ~14 months of Inventory. We project Port Moody to continue into a Seller Market. 9% of the Active Listings have Reduced their Price by $104,000 on Average and $101,000 on Median for the last month.
Greater Vancouver September 2022:
In September, 86% of the Vancouver Real Estate Detached Markets' monthly prices decreased by ($27,946) on average; that's a 13% decline from last month's drop of $21,611. On the other hand, the Fraser Valley home prices dropped even more to ($45,444) on average. We are seeing continued downward pressures due to the increasing interest rates, high inflation, and stock market jitters. We are forecasting that the majority of the Metro Vancouver Markets will continue to be in a Buyer's Market for the next 6 months.
Currently, Both the Condo Markets and Townhouse Markets are also in a Buyer's Market, with an Average Price decrease of ($6,326) and ($13,326) 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 September 2022:
The Fraser Valley Real Estate Market shows that 94% of the Detached homes' monthly prices decreased in September by ($45,444) on average. This is the 2nd lowest price change we've seen on Record for the month of September. We are seeing continued downward pressures due to the increasing interest rates, high inflation, and stock market jitters. We are forecasting that the majority of the Fraser Valley Markets will continue to be in a Buyer's Market for the next 6 months.
Currently, Both the Condo Markets and Townhouse Markets are also in a Buyer's Market, with an Average Price Decrease of ($6,326) and ($13,326) 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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