The Lower Mainland Real Estate Market Reports, Forecasts and Trends
The lower mainland real estate market reports give you live market updates. Pick a city above to see their report!
movie Current:550pxheightTOKENS:Vancouver Market Reports
Vancouver Area July 6, 2018 (2-week update)
Current: Vancouver area Real Estate Market ranges from a Sellers Market to a Buyers Market with an average of 8.9 %SOLD rate. See each city for the full details.
June's Real Estate Statistics shows 64% of Vancouver's Detached Markets decreased values this last month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price decrease of $11,020 which shows an improvement from the significant drop of $16,674 that we saw in the month prior. On Average the Fraser Valley continues to show a further Market decline with their $8,889 monthly decrease from $4,469. With the latest trade tariffs, foreign buyer taxes, higher personal taxes, tough mortgage lending rules and the pending interest rate increase, we are forecasting a Buyer's Market across most Detached Markets.
Currently, the Condo Market is turning from a Hot to a Cooler Market, with 57% of the Greater Vancouver (Lower Mainland) still increasing. At the same time, just 50% of the Townhouse Markets are increasing (17 out of 28 Markets). The "I-Will-Wait" Attitude now outweighs the buyer's emotions of the "Fear-Of-Missing-Out" that we saw in early spring. We are forecasting a Buyers Market in the lower end Condo/Townhouse Markets for the following 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 Neighbourhood.
Fraser Valley & Chilliwack July 6, 2018 (2-week update)
Current: Fraser Valley and the Chilliwack areas over all are in a Sellers Market averaging a 13.7 %SOLD rate. See each city link for the full details
by Vancouver Market Reports.
Which Real Estate Markets are Going Up or Down Next?
You can follow the Market Money move from the West to the East every 2 weeks. Need a lesson Call 778-374-3744?
Trying to do the math? STR Lesson MTI Lesson
Now do compare the %SOLD rates to last year below! Archive
Now do compare the %SOLD rates to the year 2015
Now do compare the %SOLD rates to the year 2014
Now do compare the %SOLD rates to the year 2013
Now do compare the %SOLD rates to the year 2012
Now do compare the %SOLD rates to the year 2011
Trying to do the math? STR Lesson MTI Lesson AAA
Now do compare the %SOLD and the MTI rates to last year!
Now do compare the %SOLD and the MTI rates to the year 2015
Now do compare the %SOLD and the MTI rates to the year 2014
Now do compare the %SOLD and the MTI rates to the year 2013
Now do compare the %SOLD and the MTI rates to the year 2012
Now do compare the %SOLD and the MTI rates to the year 2011
Archives: Dec 2011
Real Estate Market Conditions for the Vancouver Area
In the Vancouver area for the Month of June 2018, 26% of the Single Family Home Sold Listings reduced their List Price by the Average of $119,204. This compares to the May 2018, when 18% reduced their List Price by the Average of $96,158.
( Note: the other Two Week Reports ( STR and MTI ) will be more accurate market indicators than this monthly report after the middle of each month.)
Real Estate Market Conditions for the Fraser Valley and Chilliwack Area
In the Fraser Valley-Chilliwack area, for the Month of June 2018, 29% of the Single Family Home Sold Listings reduced their List Price by the average of $39,740. This compares to the May 2018 when 18% reduced their List Price by the average of $41,637.
Did Vancouver Real Estate Really go up 6.6% in the last year?
True or False?
Year to Date Real Estate Price Changes
Single Family Homes Top 50% See all Markets
Here on the first Graph the Year to Date Price Changes for the Top 50% Single Family Housing Market comparing all cities in the Greater Vancouver areas is up an AVERAGE of near 4%.
Do note that in West Surrey and a few other cities prices are actually DOWN!
So the Realities are that Prices in a few cities actually went up over 6.6%.
Now compare this to the Condo Markets (Lower 50%) See all Markets
Yes the Lower 50% of the Condo Market actually went Down on Average.
Do notice that only a few cities even beat our expected 2% Canada Consumer Annual Inflation Rate.
Are Condos a good investment? When will they go up?
Low End Condos attract very little foreign investment. This Market is considered mostly a Job Driven Market!
The Condo market will recover and increase when Demand Increases eg: when we have stronger employment with good paying jobs. More Tim Horton jobs will not create many more home buyers.
The Condo Market is so easy to Over Supply with the many new high rises currently being developed this year. Single Family Lots ...in other words "DIRT" will continue to be the the one true investment that can rarely be over supplied.
Now compare this to the 2 Year Market Changes