Richmond currently is showing a supply of about 20 months when 777 homes are for sale and with the 5 % monthly SOLD rate. The Richmond market is projected to remain a Buyer's market for a while.
On average, single family homes in Greater Vancouver experienced a monthly decline of $13,230 which was the same as the month before. The Fraser Valley's housing market was balanced with just about $500 monthly price decline.
The condo market showed 63% the condos in Greater Vancouver (Lower Mainland) experiencing decreasing prices. At the same time, 67% of townhouse markets were decreasing in values.
The Condo/Townhouse Markets are expected to continue in Buyers Market territory for the short term.