There are three classifications experts use to describe the balance of supply and demand in the housing market: 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…
As we near the end of 2021, home buyer demand remains well in excess of long-term averages and the supply of homes for sale continues to decline across Metro Vancouver’s housing market. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,428 in November 2021, an 11.9…
West Vancouver‘s sales-to-active listings ratio trend for different property types shows that market conditions vary by property type. Buyers’, sellers’, and balanced markets are terms that describe whether the market is putting upward, downward, or no pressure on home prices. Buyers’ markets typically occur when the sales-to-active listings ratio dips below the 12 per cent…
Thinking of a North Vancouver purchase? Or giving thought whether the timing is right to sell your North Vancouver home? Check out the super helpful market activity snapshots below to help you get a sense of today’s real estate market. They are a great breakdown of market activity stats for different North Vancouver property types,…
Monthly, our real estate board provides a snapshot of North Vancouver market activity for different property types (houses, apartments and townhomes). It’s a super helpful real estate snapshot to determine whether the timing is right for you to sell and or buy! How so? Welcome your follow-up to discuss: [email protected] North Vancouver Real…
The MLS® HPI is a measure of real estate prices that provides a clearer picture of market trends over traditional tools such as mean or median average prices. A mean average is the average price obtained by dividing the total dollar volume of sales by the number of sales. To get a median price, all…
Mortgage interest rates, inflation, employment, investment, construction, immigration, government assistance programs, and the health of local and world economies are factors that can impact the housing market. All of these influence the supply and demand of the market which, in turn, affects prices. There are three classifications experts use to describe the balance of supply…
There is more than one measure to determine how a real estate market doing. For example, months of inventory, sales-to-active listings ratio, new listings-to-sales ratio, days on the market, and house price index. MOI or Months of Inventory is a measure of how fast all the actively listed property types on the market last. You…
If you are up to it, you’ll find a whole whack of current real estate numbers below for North Vancouver residential properties including detached homes, condos and townhomes right here! To name a few this includes activity snapshots re total number of active listings, sales, days on the market and MLS HPI Benchmark Price, Sales-To-Active…
West Vancouver sales-to-active listings ratio (SAR) for June 2021 was 12.6% for detached homes, 22.9% for condo’s and 19.2% for townhomes. In contrast, North Vancouver was 45.5% for detached homes, 50.8% for condo’s and 80.8% for townhomes. Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for…
