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The Port Moody Housing Market Trends
| Port Moody Real Estate Market Reports and Forecasts
Port Moody Market Update (Detached)
Belcarra, College Park PM, Barber Street, Anmore, Glenayre and all the sub-areas of Port Moody Real Estate Market Update Report.
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Jan 1, 2020
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Current: Port Moody's 10 %SOLD Rate indicates a Stable Market.
(Meaning 10 Homes out of 100 Sold Last Month with an Average $61,900 Sales Discount from the Original List price).
Most Active Range: Homes below $1.0 mill. have 20.0 %SOLD rate.
Least Active Range: Homes above $1.5 mill. have 5.3 %SOLD rate.
History: Pt Moody YTD RMR HPI* shows that prices decreased $40,999.
*The RMR HPI (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Port Moody has Average Listing Supply; 59 homes are for sale and with the 10 %SOLD Monthly Rate gives us a ~10 months of Inventory. We project Port Moody to continue into a Stable Market.
December's Real Estate Statistics shows that we have hit BOTTOM! Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of just $1,777. This is a vast improvement from the $5-25,000 monthly drops that we have seen for the last 30 consecutive months. This long dropping market means that we have built up a lot of pent-up buyers just waiting for the market to bottom out. Now some of these buyers are finally stepping back into the market. Today we have a stark difference between the Low-End and High-End Markets. Overall, Single Family Homes in the Fraser Valley Market had a $1,355 monthly price increase, which is a positive trend from last month's price increase of $792. Over the next few months, we are forecasting price increases in the Low-End (lower-50%) and stabilization for the High-End (Top-50%) Vancouver Detached Home Markets.
Currently, the Condo Market presents stable Market conditions with 57% of the Greater Vancouver (Lower Mainland) Condo Prices increasing $424 on average. On the other hand, 61% of the Townhouse Markets decreased $242 on average (11 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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We thank Bill Coughlin for their support of the Market Reports for Anmore, Glenayre, Heritage Woods PM, Port Moody Centre, Barber Street etc. We recommend that you contact Bill as the Local Expert.... more details.
Download the full PortMoody.Marketupdatereport.PDF
This Port Moody Real Estate Market update includes the sub areas Belcarra, Barber Street, Mountain Meadows, Anmore, College Park PM etc.
Click Image to compare previous STR/ MTI graphs
Trying to do the math? Lessons: STR MTI
Port Moody
Real Estate Market Analysis Reports Previous Reports
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This is the most accurate %SOLD-Monthly Sell Through Rates (STR Graph) using a 4 week time period to analysis the housing prices and Market trends. This Market Report is derived from the exact Sat to Friday 4 week time periods and this is dramatically more accurate than the month to month comparisons that vary based on actual working days eg month, weekends. These trends enable Real Estate Market predictions and forecast outlooks. |
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