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Current: New West & E. Burnaby's Residential Detached housing is in a Seller Market with 32 %SOLD rate.
(meaning 32 homes out of 100 sold last month with an average $51,000 Discount from the original list price)
Most Active Range: Homes between $1.3 mill. - $1.4 mill. have a High 60.0 %SOLD rate.
Least Active Range: Homes above $2.5 mill. have a 18.2 %SOLD rate.
History: The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Upper 50%) shows that prices decreased $404,658.
The New West & E. Burnaby Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $135,793.
*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; 92 homes are for sale and with the 32 %SOLD Monthly Rate giving us a ~3 Months of Inventory. We project New Westminster- East Burnaby Detached to be a Seller Market. 5% of the Active Listings have Reduced their Price by $79,690 on Average and $49,200 on Median for the last month.
Greater Vancouver April 2022:
Vancouver home prices increased by just $2,372 in April. This is a big drop from the $59,777 increase that we saw in March. This is partially caused by the erosion of consumer confidence with the $2/litre gas prices, interest rates, and economic woes. We are now forecasting that the majority of the Metro Vancouver Markets will be in a Buyers’ Market the next month. The Fraser Valley has already switched to a Buyer's Market with prices dropping a whopping ($43,918).
Currently, the Condo Market is still Stable with an Average Price Increase of $1,617. Meanwhile, Townhouse Markets have switched to a Buyer's Market with an ($8,069) average price decrease. 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.
Fraser Valley April 2022:
The Fraser Valley's Detached Home Market has now dropped for the 2nd month in a row. The Average Home Price decreased ($43,918) which is a big change from the $2,921 drop that we saw in March. This adjustment is partially caused by the erosion of consumer confidence with the $2/litre gas prices, interest rates, and economic woes. This is the 4th lowest monthly price decrease we have seen on record. We are now forecasting that the majority of the Fraser Valley Market continues to be in a Buyer's Market in the next coming months.
Currently, the Condo Market is still Stable with an Average Price Increase of $1,617. Meanwhile, Townhouse Markets have switched to a Buyer's Market with an ($8,069) average price decrease. 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.
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