April's Real Estate Statistics show that the seller's market is ending soon. We have seen 86% of the Single-Family Homes in Metro Vancouver go up with an Average Monthly Price increase of $38,473, which is the 2nd highest April increase in 12 years! But still, this is a dramatic drop from last month's $84,263 price increase. On the other hand, 89% of the Fraser Valley Detached Markets went up with a Monthly Price increase of $27,629 on average! This is also a decrease from last month’s $60,306 price increase. With the increasing listing inventories and the pending tougher mortgage qualifications rules, we are forecasting that the majority of Metro Vancouver Markets will flip to a Buyer's Market within 6 weeks, and 2 months for Fraser Valley Markets
Currently, the Condo/Townhouse Markets (the more affordable Markets) continue to be in a strong Seller's Market with 99.3% of the Lower Mainland Prices increased. The average monthly Condo prices increased $12,633 and Townhouse prices increased $28,403. We analyze and provides 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.