Current: Vancouver area Real Estate Market ranges from a Sellers Market to a Buyers Market with an average of 12.6 %SOLDrate. See each city for the full details.
January's Real Estate Statistics shows that we are almost a stable market! Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $3,176 which is slightly up from $1,777 price decrease the month prior (the inclement weather dampened sales.) The Last 31 consecutives months-long dropping market means that we have built up some pent-up buyers just waiting for the market to the bottom out, and for them to start buying. The Coronavirus growth damages any residual Chinese Foreign investors. Over the next few months, we are forecasting price stabilization in most Vancouver Detached Home Markets. On the other hand, Single Family Homes in the Fraser Valley Market had a $1,642 monthly price increase, which is similar to last month’s price increase of $1,355. We are forecasting the Detached Home Prices to increase across most of the Fraser Valley and the Lower-End Vancouver Markets in the coming months
Currently, the Condo Market presents near stable Market conditions with 73% of the Greater Vancouver (Lower Mainland) Condo Prices increasing just $730 on average. At the same time, 53% of the Townhouse Markets increased $43 on average (22 out of 28 Markets). We are forecasting increasing Condo and Townhouse Markets in the coming 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 Neighborhood.
Fraser Valley & Chilliwack Feb 14, 2020 (2-week update)
Current: Fraser Valley and the Chilliwack areas overall are in a Stable Market averaging a 18.2 %SOLD rate. See eaccity link for the full details
Real Estate Market Conditions for the Vancouver Area
In the Vancouver area for the Month of January 2020, 26% of the Single Family Home Sold Listings reduced their List Price by the Average of $116,572. This compares to December 2019, when 25% reduced their List Price by the Average of $111,532.
( 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 January 2020, 24% of the Single Family Home Sold Listings reduced their List Price by the average of $36,455. This compares to December 2019 when 29% reduced their List Price by the average of $32,000.
Did Vancouver Real Estate Really go down 17% since April 2018 peak?
The Bestand Worst Investments in Greater Vancouver()
Prices have dropped across All Cities, All Markets!
From the Peak in June 2017 (31 months Sales) For Vancouver Detached Homes:
Vancouver Westside and White Rock are both down with 24.7% and 14.7%, respectively.
From the Peak in April 2018 (21 months Sales) For Fraser Valley Detached Homes:
Chilliwack homes also got hit with an 8.8% decrease, and Maple Ridge showed a decline with 10.4% price decrease. (Click Image to See the difference between the High and Low Markets)