by Alyssa | Nov 2, 2021 | Uncategorized
November 2021 – Lower Mainland Monthly Update (REBGV & FVREB)
Almost all Year End records set to be broken in Lower Mainland Real Estate
The most reliable indicator of market prices is the Sales to Active Listings Ratio (SAL). This is the ratio between the number of sales in a given month and the number of active listings at month-end.
In hotter markets in BC, a long-term analysis has shown that prices will usually act in the following ways:
- 7+ Months of Inventory (Under 14% SAL): Prices will likely DECLINE
- 5 – 7 Months of Inventory (14% – 18% SAL): Prices will likely be STABLE
- Less than 5.5 Months of Inventory (Over 18% SAL): Prices will likely RISE
Visit this link to learn more about house prices and inventory.
Sales
Monthly sales 5,432 are significantly above the 10-year average (4,136).
Cumulative Year-to-date Sales
YTD sales are currently at the highest level ever recorded. Sales from Jan – Oct have surpassed the total number of sales in years 2011 – 2015 and 2018 – 2020. We expect total sales by the end of 2021 to break all records.
Inventory
Inventory continues to trend below the long-term average.
Sales to Active Listings
Prices are expected to rise with increased sales to active lisitng ratio
Months of Inventory
Months of inventory struggles through October, further indicating that prices are expected to rise.
by Alyssa | Apr 5, 2019 | Market Insights
Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in March 2019.
Vancouver-West
In the Vancouver Westside, there were 64 sales of detached homes and 744 active listings at the end of the month. The benchmark sale price was $3,026,300.
In comparison, the condo market had 235 sales, 1,518 active listings and a benchmark sale price of $769,200.
Townhome sales were 28, active listings were 232. The benchmark sale price was $1,184,500.
It’s a buyer’s market in Vancouver West.
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by Alyssa | Apr 5, 2019 | Market Insights
Here are the latest real estate market statistics from Macdonald Realty on Squamish, Whistler, and Sunshine Coast listings and sales in March 2019.
Squamish
In March 2019, there were 16 sales of detached homes and 123 active listings in Squamish. The benchmark sale price was $980,300.
The condo market had 14 sales and 58 active listings at the end of the month. The benchmark sale price was $469,400.
Townhome sales were 14 sales, active listings were 32. The benchmark sale price was $655,100.
It’s a seller’s market for townhomes.
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by Alyssa | Apr 3, 2019 | Market Insights
Here are the latest real estate market statistics from Macdonald Realty on North Delta, Surrey, White Rock, Langley, and Fraser Valley listings and sales in March 2019.
North Delta
In the North Delta market, the benchmark sale price was $902,200 for detached homes. At the end of the month, there were 145 active listings and 42 sales.
The condo market had 10 sales and 44 active listings. The benchmark sale price was $392,500.
Townhomes featured 3 sales, 26 active listings and a $571,500 benchmark sale price.
It’s a buyer’s market for townhomes.
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by Alyssa | Apr 3, 2019 | Market Insights
Here are the latest real estate market statistics from Macdonald Realty on Okanagan listings and sales in March 2019.
Central Okanagan: Kelowna and Lake Country
There were 136 sales, 1,015 active listings, and a $722,463 average sale price for detached homes in the Central Okanagan market, including Kelowna and Lake Country.
The condo market featured 96 sales and 546 active listings at the end of the month. The average sale price was $371,338.
Townhome sales were 72, active listings were 391 and the average sale price was $494,884.
It’s a buyer’s market for homes.
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