May was again a seller’s market for North Vancouver homes, apartments and townhomes. Seller’s market conditions have held since June 2020 for NV homes, September 2020 for apartments and May 2020 for townhomes.!
Seller’s market
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.
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%
