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Current: New West & E. Burnaby's Residential Detached housing is in a Seller Market with 19 %SOLD rate.
(meaning 19 homes out of 100 sold last month with an average $36,400 decrease from the original list price)
Most Active Range: Homes between $1.4 mill.- $1.6 mill. have 33.3 %SOLD rate.
Least Active Range: Homes above $2.5 mill. have 2.3 %SOLD rate.
History: The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Upper 50%) shows that prices decreased $12,545.
The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $36,000.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: New Westminster- East Burnaby has an average Listing Supply; 99 homes are for sale and with the 14 %SOLD Monthly Rate giving us a ~7 Months of Inventory. We project New Westminster- East Burnaby Detached to be a Stable Market. 8% of the Active Listings have Reduced their Price by $82,875 on Average and $51,000 on Median for the last month.
Greater Vancouver March 2024:
The average monthly cost for single-family detached homes has risen by $18,256, marking a slight decrease from February's average price of $20,376. Despite the difficulties caused by higher borrowing costs, rising prices, and the limited availability of listings, we predict that the real estate market will favor sellers for the next six weeks.
In Vancouver's condo market, 67% of condos have experienced an average price decrease of $8,951. Conversely, the average price of townhouses has climbed to $10,973, we are forcasting a continued Sellers Market.
For the most accurate and up-to-date market trends, join us every Saturday at noon on VancouverMarketReports.com, where we analyze the winners and losers in each Lower Mainland city. For a comprehensive market value update, including forecasts and a thorough analysis of your neighborhood and local market area, please don't hesitate to contact Bill Coughlin and the Coughlin Team at 778-374-3744.
Fraser Valley March 2024:
The average monthly cost for single-family detached homes has risen by $13,015, marking a slight decrease from February's average price of $19,686. Despite the difficulties caused by higher borrowing costs, rising prices, and the limited availability of listings, we predict that the real estate market will favor sellers for the next six weeks.
In Fraser Valley's condo market, 75% of condos have experienced an average price decrease of $3,434. Conversely, the townhouse market's average price has climbed to $9,716, we are forcasting a continued Sellers Market.
For the latest and most accurate market trends, join us every Saturday at noon on VancouverMarketReports.com, where we analyze the performance of winners and losers in each Lower Mainland city. For a comprehensive market value update, including forecasts and a thorough analysis of your neighborhood and local market area, feel free to reach out to Bill Coughlin and the Coughlin Team at 778-374-3744.
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