{"id":1251,"date":"2022-06-11T10:30:00","date_gmt":"2022-06-11T17:30:00","guid":{"rendered":"https:\/\/rodrhearyan.com\/blog\/realtor-rod-rhea-ryan-hayes-neighbourhood-maple-ridge-central-detached-stand-alone-family-royal-lepage-supply-increase-sales-decrease-demand-sellers-buyer-market-price-mortgage-rates-bank-central-ensu\/"},"modified":"2026-04-08T09:23:33","modified_gmt":"2026-04-08T16:23:33","slug":"realtor-rod-rhea-ryan-hayes-neighbourhood-maple-ridge-central-detached-stand-alone-family-royal-lepage-supply-increase-sales-decrease-demand-sellers-buyer-market-price-mortgage-rates-bank-central-ensu","status":"publish","type":"post","link":"https:\/\/www.rodrhearyan.com\/blog\/realtor-rod-rhea-ryan-hayes-neighbourhood-maple-ridge-central-detached-stand-alone-family-royal-lepage-supply-increase-sales-decrease-demand-sellers-buyer-market-price-mortgage-rates-bank-central-ensu\/","title":{"rendered":"Maple Ridge Sales May 2022 vs 2021- Supply Increase, Sales Down"},"content":{"rendered":"<pre style=\"text-align: center;\">Benchmark prices up accross the board, between 20.1%-27.3% compared to May 2021.<br \/><br \/><span style=\"text-decoration: underline;\"><strong><span style=\"font-size: 14px;\">Detached Market:<br \/><br \/><\/span><\/strong><\/span><\/pre>\n<pre style=\"text-align: center;\"><span style=\"font-size: 12px;\">This month there was<a href=\"https:\/\/www.rebgv.org\/content\/rebgv-org\/news-archive\/mls--home-price-index-updated-to-better-reflect-current-housing-.html\"> a major change to how the Home Pricing Index (HPI) is calculated<\/a><\/span><br \/><span style=\"font-size: 12px;\"> in an attempt to make it a more accurate reflection of the market for the average buyer\/seller.<\/span><strong><br \/><br \/>Regardless of the change to the HPI this is the first month that detached home's have seen their benchmark price decline in 2 years and 7 month. <br \/>The last time the benchmark decreased was in October 2019. <br \/><br \/><\/strong>The May benchmark for detached homes is $288,900 higher than its 2021 counterpart. <\/pre>\n<pre style=\"text-align: center;\"><strong><br \/><\/strong>April: $1,469,900 (old HPI calculation had the April benchmark at $1,447,600)<br \/>May: $1,438,500 (new HPI)<br \/><br \/><span style=\"text-decoration: underline; font-size: 14px;\"><strong>Supply:<\/strong><\/span><\/pre>\n<pre style=\"text-align: center;\">April saw supply increase across the board. <br \/><br \/>Detached homes saw 36 more listings than April 2022, and a 20.1% increase over the same time last year.<br \/>Condos saw 18 more listings than April 2022, however supply is only 2.3% above May 2021.<br \/>Townhouses kept pace with April 2022 with only 1 more listing in May. Supply has still blown past May 2021 by 60.6%<br \/><br \/><span style=\"text-decoration: underline;\"><strong><span style=\"font-size: 14px;\">Sales:<\/span><\/strong><\/span><br \/><br \/><strong>Although the market on par with April 2022, sales plummeted compared to May 2021...with detached homes hit the hardest.<\/strong><br \/>Sales are down between 19.6%-48.1%. <br \/><br \/><br \/><span style=\"text-decoration: underline; font-size: 14px;\"><strong>Townhouse Market:<\/strong><\/span><br \/><br \/><strong>Townhouse benchmark prices drcreased for the second consecutive month.<\/strong><br \/>Townhouse benchmark pricing is down $23,900 in the last 30 days. (based on new HPI)<br \/>The pricing slip is due, at least in part, to increasing supply, and more options for buyers which means more competition for sellers.<br \/><br \/><\/pre>\n<pre style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><span style=\"font-size: 14px;\"><strong>SNAPSHOT:<\/strong> <br \/><br \/><\/span><\/span><span style=\"font-size: 14px;\">Very Similar To April: Supply increase. Sales Down. Townhomes Dip. <br \/><img decoding=\"async\" src=\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/mr_d.jpg\" alt=\"mr d\" \/> <br \/><\/span><\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Benchmark prices up accross the board, between 20.1%-27.3% compared to May 2021.Detached Market: This month there was a major change to how the Home Pricing Index &hellip;<\/p>\n","protected":false},"author":2,"featured_media":2361,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-area-statistics"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/1251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/comments?post=1251"}],"version-history":[{"count":1,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/1251\/revisions"}],"predecessor-version":[{"id":3053,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/1251\/revisions\/3053"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/media\/2361"}],"wp:attachment":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/media?parent=1251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/categories?post=1251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/tags?post=1251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}