Current: Vancouver Westside ranges from a Stable High End Market to a Buyer Market with average 10 %SOLD rate and a Sale Price /List Price of
95% or $143,000 avg. sale price discount from original list price.
Most Active Range: Homes between $2.75 mill. - $3 mill. have 26.3 %SOLD rate.
Least Active Range: Homes above $7.5 mill. have 2.4 %SOLD rate
History: The Vancouver Westside Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $274,898.
The Vancouver Westside Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $5,413.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Vancouver Westside has average Listing Supply; 437 homes are for sale and with the 10 %SOLD monthly rate gives us a ~14 months of inventory. 5% of the active listings have reduced their price by $299,864 on average and 299,000 median for the last month.
May's Real Estate Statistics shows that 86% of Single-Family Homes in Metro Vancouver are in a Seller's Market. The Average Monthly Prices increased $2,796 which is a slight increase over last month's increase. On the Other hand, May's Real Estate Statistics shows 61% of Fraser Valley's Detached Markets increased values this month. Fraser Valley's Single Family Homes had a $1,220 monthly price increase. We are all surprised at the Market resilience with our large drops in sales during the pandemic. It turns out that the few buyers we had competed for the very low listing inventories. Now we are seeing a trend of substantial new listings increases and are forecasting a stable Market this coming month.
Currently, Condos are in a Seller Market with 60% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. On average, the Condo Market went up $894. At the same time, the Townhouse Markets increased $1,243. That is 71% increased (20 out of 28 Markets). We analyze and provide 97 individual City's Home Price Indexes to supply you 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.