Current: West Vancouver is in a Buyers Market with 4 %SOLD rate, 49 days on the market (DOM) and with an 89% selling discount of $285,000 off the original list price.
Most Active Range: Homes below $2 mill. have 10.2 %SOLD rate.
Least Active Range: Homes below $4.5 mill. have 1.3 %SOLD rate.
History: The West Vancouver Year-To-Date Home Price Index HPIp (Top 50%) HPIp* shows that prices decreased $606,092.
The West Vancouver Year-To-Date Home Price Index HPIp (Lower 50%) HPIp* shows that prices decreased $275,681.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: West Vancouver has average Listing supply; 497 homes are for sale and with the 4 %SOLD monthly rate gives us a ~25 months of inventory. 5% of the active listings have reduced their price by $232,765 on average and $209,000 on median for the last month. We project West Vancouver to be a continued Buyer's market.
February's Real Estate Statistics shows some of our Markets stabilizing with 44% of Vancouver's Detached Markets increasing values this month. Generally, Single Family Homes in Metro Vancouver experienced an Average Monthly Price decrease of $13,230 which is the same as last month's price drop of $13,255. On Average, the Fraser Valley's Market is balanced with just a $464 monthly price decrease. The following month's forecasts are continued Buyer's Detached Market across most of Vancouver and a Stable Market in the Fraser Valley.
Currently, the Condo Market presents a Cooler Market with 63% of Greater Vancouver (Lower Mainland) with decreasing prices. At the same time, 67% of Townhouse Markets are decreasing. (16 out of 28 Markets). We are forecasting a continued Buyers Market in all Condo/Townhouse Markets for the short term. 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.