Current: Vancouver Westside ranges from a Warm Lower End Market to a Stable High-End Market with average 8 %SOLD rate and a
Sale Price /List Price of 92% or $235,000 avg. sale price discount from original list price.
Most Active Range: Homes below $2.25 mill. have 19.0 %SOLD rate.
Least Active Range: Homes between $6.0 mill. - $7.5 mill. have 1.4 %SOLD rate
History: The Vancouver Westside Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $401,636.
The Vancouver Westside Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $185,001.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Vancouver Westside has average Listing Supply; 634 homes are for sale and with the 8 %SOLD monthly rate gives us a ~13 months of inventory. 18% of the active listings have reduced their price by $299,545 on average and $214,500 median for the last month.
August's Real Estate Statistics shows 67% of Vancouver's Detached Home decreased in values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $13,210. This is a positive improvement from the $22,076 drop we saw in July. On the other hand, the Fraser Valley also shows a minimal monthly price decrease of just $1,699. We are forecasting Declining Detached Home Prices across most of the Fraser Valley and Vancouver Markets the next quarter.
Currently, the Condo Market presents a Cool Market with 80% of the Greater Vancouver (Lower Mainland) Condo Prices decreasing $3,518 on average. Many new Condo Projects are now competing against the existing market. On the same note, 64% of the Townhouse Markets decreased $3,432 on average (18 out of 28 Markets). We are forecasting a Buyer's Market in most Condo and Townhouse Markets for the coming quarter. 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.