Current: Ladner, Tsawwassen and S.Delta residential detached housing market have a 9 %SOLD rate making it a Buyer Market.
(This means 9 homes out of 100 sold last month with an average $44,500 Discount from the original list price )
Most Active Range: Homes between $1 mill.- $1.2 mill. have 17.1 %SOLD rate
Least Active Range: Homes above $1.4 mill. have 2.3 %SOLD rate
History: Ladner, Tsawwassen and S.Delta Year-To-Date RMR Home Price Index* show that prices decreased $101,000.
*The RMR HPI (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Ladner, Tsawwassen and S.Delta have 280 homes for sale and with the 9 %SOLD monthly rate gives us ~11 months of inventory. 26% of the active listings have reduced their price by $50,788 on average or $48,900 median in the last month.
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.