Current: Maple Ridge & Pitt Meadows are in a Sellers Market with Average Listing inventories, a 25 %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 $750,000 - $850,000 have 40.0 %SOLD Rate
Least Active Range: Homes above $1.1 mill. have 13.4 %SOLD Rate.
History: The Maple Ridge, Pitt Meadows Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $168,854.
The Maple Ridge, Pitt Meadows Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $131,940.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Maple Ridge & Pitt Meadows has normal Listing supply; 333 homes are for sale and with the 25 %SOLD Monthly Rate gives us a ~4 months of inventory. Another Indicator: 8% of the Active listings have Reduced their Price by $39,017 on Average or $31,000 Median in the last month. We project Maple Ridge - Pitt Meadows Detached to continue into a Sellers Market.
April's Real Estate Statistics shows 57% of Vancouver's Detached Markets decreased values this last month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price increase of $4,857 which is an improvement over the $2,135 decrease that we saw in the month prior. On the Average Fraser Valley continues to show a much stronger Market with their $13,418 monthly increase. With many new foreign buyer taxes, the much tougher mortgage lending rules, the higher interest rates, pending trade tariffs, we are forecasting a Buyer's Market across all the High-End Detached Markets and a stabilizing of the Lower-End Detached Markets
Currently, the Condo Market is turning from Hot to a warm market, with 67% of the Greater Vancouver (Lower Mainland) still increasing. 75% of the Townhouse Markets are still increasing (21 out of 28 Markets). There is a Notable difference between the top 50% of the attached markets which are stabilizing over the much stronger bottom 50% of the markets which can see multiple offers. We are forecasting a stabilizing Market in the lower end Condo/Townhouse Markets for the following months. 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 Neighbourhood.