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Current: Ladner, Tsawwassen and S.Delta residential detached housing market have a 24 %SOLD rate making it a Seller Market.
(This means 24 homes out of 100 sold last month with an average $0 Discount from the original list price )
Most Active Range: Homes between $1.0 mill. - $1.2 mill. have 35.5 %SOLD rate.
Least Active Range: Homes above $1.8 mill. have 12.1 %SOLD rate.
History: Ladner, Tsawwassen and S.Delta Year-To-Date RMR Home Price Index* show that prices increased $313,600.
*The RMR HPI (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Ladner, Tsawwassen and S.Delta have 181 homes for sale and with the 24 %SOLD monthly rate gives us ~4 months of inventory. 18% of the active listings have reduced their price by $85,697 on average or $69,200 median in the last month.
June's Real Estate Statistics show that the Buyer's market has started. We have 57% of the Single-Family Homes in Metro Vancouver decrease. Average Monthly Price was down $199! This is a marked reversal from last month's $8,840 price increase, and is the 1st drop since winter of 2020. Meanwhile, 61% of the Fraser Valley Detached Markets went down with an Average Price decrease of $14,168 and is the first drop since fall of 2019. Due to tougher mortgage qualification rules, buyer exhaustion, we are forecasting that the majority of the Metro Vancouver Markets will continue to be a Buyer's Market in the coming months.
Currently, Condos have moved to a Buyer's Market with 57% of the Greater Vancouver (Lower Mainland) Condo Prices decreasing. The average monthly price decrease was $403. On the other hand, 71% Townhouse Markets (27 out of 28) prices increased $4,881 on average. 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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