Almost all property types in all areas of Greater Vancouver and the Fraser Valley have shows decrease last month. As you can see there are large decreases observed over the last 6 months. Generally speaking, an over heated market and rising interest rates have been the biggest factor in the decrease in prices.
Sales Volume over last year is down tremendously in both Greater Vancouver and the Fraser Valley with listings only down slightly. This imbalance will lead to continuous price drops until demand and supply return to equilibrium. See our weekly sales to listings ratio update on Adlaw’s Group Page to see what is happening with demand / supply on a weekly basis.
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Thank you for reading!
Adam Lawrenson, AACI
Owner, Adlaw Appraisals
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