Current: Langley, Cloverdale is in a Stable Market with average listing inventories, 12 %SOLD rate and a 96% Sell/List Ratio.
(This means that there is an average of a $32,950 discount on a sale from the original list price )
Most Active Range: Homes below $700,000 have High 29.8 %SOLD rate and is in a Stable Market
Least Active Range: Homes above $1.4 mill. - $1.7 mill. have 2.9 %SOLD rate.
History: The Langley, Cloverdale Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $4,870.
The Langley, Cloverdale Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $15,073.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes
Forecast: Langley, Cloverdale has an average Listing supply; 567 homes are for sale and with the 12 %SOLD monthly rate gives us a ~8 months of inventory. 13% of the active listings .have reduced their price by $49,808 on average or $35,050 median in the last month. We project Langley, Cloverdale Detached to be a stable market
December's Real Estate Statistics shows 72% of Vancouver's Detached Markets values experienced an Average Monthly Price decrease of $11,497 which is close to the $11,521 November price drop. On Average, the Fraser Valley Market shows a $7,226 monthly price decrease. Consumer confidence has been damped with the Volatile Stock Markets, tougher mortgage lending rules, and pending interest rate increases. We are forecasting a Buyer's Market across most Detached Markets for the following months.
Currently, the Condo Market presents a Cool Market with 67% of the Greater Vancouver (Lower Mainland) now decreasing. At the same time, 68% of Townhouse Markets are decreasing. (19 out of 28 Markets). Both Markets still indicate a Buyer's "Wait-To-Drop-More" behaviour for the last 2 quarters. We are forecasting a Buyers Market in all Condo/Townhouse Markets for the foreseeable future. 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.