Current: Maple Ridge & Pitt Meadows are in a Stable Market with Average Listing inventories, a 14 %SOLD Rate and Sell Price/List Price = 97%
(Meaning there is an Average of a $25,825 Discount on a Sale from the List price)
Most Active Range: Homes between $950,000 - $1.3 mill. have 20.0 %SOLD Rate
Least Active Range: Homes above $1.3 mill. have 5.3 %SOLD Rate.
History: The Maple Ridge, Pitt Meadows Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $11,001.
The Maple Ridge, Pitt Meadows Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $48,641.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Maple Ridge & Pitt Meadows has normal Listing supply; 517 homes are for sale and with the 14 %SOLD Monthly Rate gives us a ~7 months of inventory. Another Indicator: 17% of the Active listings have Reduced their Price by $52,359 on Average or $25,099 Median in the last month. We project Maple Ridge - Pitt Meadows Detached to continue into a Stable Market.
August's Real Estate Statistics shows 67% of Vancouver's Detached Home decreased in values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $13,210. This is a positive improvement from the $22,076 drop we saw in July. On the other hand, the Fraser Valley also shows a minimal monthly price decrease of just $1,699. We are forecasting Declining Detached Home Prices across most of the Fraser Valley and Vancouver Markets the next quarter.
Currently, the Condo Market presents a Cool Market with 80% of the Greater Vancouver (Lower Mainland) Condo Prices decreasing $3,518 on average. Many new Condo Projects are now competing against the existing market. On the same note, 64% of the Townhouse Markets decreased $3,432 on average (18 out of 28 Markets). We are forecasting a Buyer's Market in most Condo and Townhouse Markets for the coming quarter. 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.