Current: New West & E. Burnaby's Residential Detached housing is in a Seller Market with 24 %SOLD rate.
(meaning 24 homes out of 100 sold last month with an average $19,500 Discount from the original list price)
Most Active Range: Homes between $975,000 - $1.125 mill. have a High 33.3 %SOLD rate.
Least Active Range: Homes between $1.875 mill. have a 6.3 %SOLD rate.
History: The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Upper 50%) shows that prices decreased $13,320.
The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $23,690.
*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; 133 homes are for sale and with the 24 %SOLD Monthly Rate giving us a ~4 Months of Inventory. Another indicator: 8% of the Active Listings have Reduced their Price by $51,009 on Average and $49,100 on Median in the last month. We project New Westminster- East Burnaby Detached to be a Seller Market.
October's Real Estate Statistics shows that in this highly emotional market that all 100% of the Single-Family Homes in Metro Vancouver are in a Seller's Market. This is the 1st time all markets are rising since May 2017. The Average Monthly Prices increased $19,518 which is the highest increase we have seen this year or for any October on record. Same in Fraser Valley, 94% of market increased with $23,580 monthly price increase. Thus, we are forecasting that Lower Mainland Markets (both fraser Valley and Metro Vancouver Markets) will continue to be Seller’s Market for the coming month.
Currently, Condos are also in a much cooler Seller's Market with 60% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. The average monthly price increase was $1,238. At the same time, 27 out of 28 Townhouse Markets increased an average of $2,980. We analyze and provide 97 individual City's Home Price Indexes to supply you with the MOST ACCURATE Market Trends every Saturday. 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.