|
Current: North Vancouver is in a Stable Market with its average listings inventory and 14 %SOLD rate.
Meaning 14 homes out of 100 sold in the last month with an avg of $105,500 Discount on sale from the original list price.
Most Active Range: Homes below $1.3 mill. have 28.0 %SOLD rate.
Least Active Range: Homes above $3 mill. have 6.2 %SOLD rate.
History: The North Vancouver Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $123,757.
The North Vancouver Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $112,847.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: North Vancouver has an average listing supply; 330 homes are for sale and with the 14 %SOLD monthly rate gives us a ~7 months of inventory. 24% of the Active Listings have reduced their price by $113,627 on average or $85,500 on median in the last month. We project North Vancouver to be a continued 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.
|
