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Current: Vancouver Downtown's Residential Attached housing market is a Stable market with 10 %SOLD rate and a 98% Sell/List Ratio.
(This means 9 homes out of 100 sold with an average of $19,000 discount on a sale from original list price)
Most Active Range: Homes below $600,001 have have 20.3 %SOLD rate.
Least Active Range: Homes above $2.5 mill. have 3.8 %SOLD rate
History: The Vancouver Downtown Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $97,396.
The Vancouver Downtown Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $32,723.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Current listing inventories are 15% more than same month last year meaning that we are seeing a reduced listings supply. We project Vancouver Downtown to be on a Continued Stable market.
Greater Vancouver October 2024:
October's real estate report shows that 52% of detached homes in Greater Vancouver lost value this month. On average, single-family homes in Metro Vancouver saw a price drop of $1,045. With mortgage rates going down, buyers will be more active, especially in the condo and townhouse markets. We forecast that the Metro Vancouver area to remain a buyer's market until the end of the year.
In October, the average price of condos decreased by $3,925, and townhouses saw a decline of $3,155. We forecast that the condo and townhouse markets will remain a buyer's market in the coming months.
To keep up with the latest market trends, tune in every Saturday at noon on VancouverMarketReports.com. We analyze which areas in the Lower Mainland are rising or falling. For a full update on market values, forecasts, and a detailed analysis of your neighborhood, reach out to Bill Coughlin and the Coughlin Team at 778-374-3744.
Fraser Valley October 2024:
October's real estate statistics show that 50% of detached homes in the Fraser Valley lost value this month. Overall, single-family homes in the Fraser Valley had an average price drop of $2,083. With mortgage rates going down, buyers will be more active, especially in the condo and townhouse markets. For now, we expect the Fraser Valley to remain a buyer's market until the end of the year.
In October, the average price of condos decreased by $1,364, and townhouses saw a decline of $940. We forecast that the condo and townhouse markets will remain a buyer's market in the coming months.
To keep up with the latest market trends, tune in every Saturday at noon on VancouverMarketReports.com. We analyze which areas in the Lower Mainland are rising or falling. For a full update on market values, forecasts, and a detailed analysis of your neighborhood, reach out to Bill Coughlin and the Coughlin Team at 778-374-3744.
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