Year-over-year monthly sale numbers were up significantly for West Vancouver homes and condos in June, +33.3% and +20% respectively however the MLS® HPI Benchmark Price continued to edge down, -7.7% and -12% respectively.
The WV real estate market has pretty much been trending with Buyer’s market conditions the past 16 months for most property types.
Balanced Market
A balanced market occurs when the sales-to-active listing ratio is between 12-19%. In a balanced market prices should rise in-line with the long term average of inflation.
Seller’s Market
A Seller’s market is when there is a higher ratio of sales to listing, typically indicated by a sales-to-active listings ratio of 20% or higher. This causes upward pressure on pricing.
Buyer’s Market
A Buyer’s market is when there is a lower ratio of sales to listing, typically indicated by a sales-to-active listings ratio of 11% or lower. This causes downward pressure on pricing.
Read on below for more market details!
Work thru the five pages below showing activity snapshots, a Sales-to-Active Ratio graph, a table with which neighborhoods show sales and listing activity, the average days on the market and a visual showing the monthly trend of the Sales, Active Listings and MLS® HPI Benchmark Price.
