The real estate market in Vancouver and the surrounding municipalities is constantly changing. A few key measures we use as real estate professionals to gauge the current market conditions and trends are the monthly statistics provided by the Real Estate Board of Greater Vancouver (REBGV).
Below you will find a link to the latest real estate statistics giving you up to date insight into the sales, pricing and trends in each municipality of Metro Vancouver. This five-page report captures the latest sales, listings, days on market and price activity broken down by property type. The report also summarizes activity at the neighbourhood or sub-area level.
Of particular importance is the Sales to Active Ratio. Downward pressure on home prices can occur when the ratio dips below 12% for a sustained period, while home prices can experience upward pressure when it surpasses 20% over several months. If the Sales to Active Ratio is below 12% it is considered a Buyer's Market, and alternatively if the ratio is above 20% it is considered a Seller's Market. Between those two levels is referred to as a Balanced Market.
If you have any questions about these numbers or what they may mean to you as a Buyer or Seller, please reach out to me by phone at 604-306-1968 or email firstname.lastname@example.org. I look forward to speaking with you!