Current: Maple Ridge & Pitt Meadows are in a Sellers Market with Average Listing inventories, a 44 %SOLD Rate and Sell Price/List Price = 100% (Meaning there is an Average of a $0 Discount on a Sale from the List price)
Most Active Range: Homes between $700,000 - $800,000 have 60.5 %SOLD Rate
Least Active Range: Homes above $1 mill. have 28.0 %SOLD Rate.
History: The Maple Ridge, Pitt Meadows Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $76,481.
The Maple Ridge, Pitt Meadows Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $65,238. .
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Maple Ridge & Pitt Meadows has normal Listing supply; 203 homes are for sale and with the 44 %SOLD Monthly Rate gives us a ~2 months of inventory. Another Indicator: 5% of the Active listings have Reduced their Price by $20,840 on Average or $20,400 Median in the last month. We project Maple Ridge - Pitt Meadows Detached to continue into a Sellers Market.
May's Real Estate Statistics show ALL 97 Markets are in a Strong Sellers Market and by most accounts, exceeding the 2016 Market Furious Activity Levels. This Consumer Confidence is largely due in part to an increased demand from a Large Local Investor Component and Lower Inventory Levels. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Increase of $40,337, which is a dramatic increase over the $23,408 increase that we saw in April and Single Family Homes in the Fraser Valley experienced an Average Monthly Price Increase of $25,106, which is a decrease from the $32,589 increase that we saw in April.
Currently 100% of the Attached Markets are increasing at a fast pace in Greater Vancouver's 58 Markets. Last year our Emotionally Charged Single Family Markets peaked in June/July and this year we are forecasting a prolonged Sellers Market across all Markets. We continue to 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.