One tool our real estate board uses to monitor supply and demand activity in the market is the sales-to-active listings ratio.
When this ratio dips below 12% for a sustained period, it indicates the supply is outpacing the demand and prices typically decline as a result. When it surpasses 20% and for a sustained period, demand is outpacing supply and prices typically increase.
North Vancouver detached homes ended 2021 with a ratio of 58%. This indicates a strong sellers’ market. Throughout the year the ratio never dipped below 28%.
It was a good year for North Vancouver Sellers!