As 2022 unfolds, North Vancouver continues to experience persistently low inventory numbers and rising prices for all property types. The trend of seller market conditions has been holding on since the Fall 2021 for NV homes, apartments and townhomes!
A seller’s market is when there are more people looking to buy then there are homes available. This causes a rise in price above the long-term average rate of inflation. Typically this is indicated by a sales-to-active listings ratio of 20% or higher.
In contrast, a buyer’s market is when there are more homes for sale than there are buyers. As a result, prices typically either decrease or increase at a pace below the average rate of inflation. A buyer’s market occurs when the sales-to-active listings ratio dips below 12%.
A balanced market occurs when supply and demand are about the same, with home prices rising in line with long-term average rate of inflation. Typically this is indicated by a sales-to-active listings ratio between 12% and 20%.
Over a sustained period of time
a seller’s market is represented by a ratio of 20% or higher
a buyer’s market is represented by a ratio of 11% or lower
a balanced market rests between 12-19%
Check out the recent stats for more details: