January 2023 Lower Mainland Monthly Market Update

January 2023 Lower Mainland Monthly Market Update

January 2023 – Lower Mainland Monthly Update (REBGV & FVREB)

Metro Vancouver & Fraser Valley sales are at their lowest in over 10 years.

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

Sales in December fell to their lowest level in over 10 years, as buyers continued to take a breather to adjust to the new interest rate environment.

Cumulative Year-to-date Sales

Despite the strong start to the year, 2022 ended with sales (44,258) 15% below the 10-year average (52,000).

Inventory

December inventory (11,307 active listings) decreased from the previous month, and remain 20% below the 10-year average (13,604 average).

Sales to Active Listings

 Despite the low sales, low inventory kept the Sales to Active Listing Ratio above 17%, indicating stabilizing prices.

Months of Inventory

Similarly, Months of Inventory fell to 5.6 MOI, indicating a balanced market.

Want to learn more about these stats or discuss your move to Macdonald Realty?

Check out careersinbcrealestate.com to connect today!

December 2022 Lower Mainland Monthly Market Update

December 2022 Lower Mainland Monthly Market Update

December 2022 – Lower Mainland Monthly Update (REBGV & FVREB)

Metro Vancouver & Fraser Valley sales are at their lowest in over 10 years.

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

Sales in November fell to their lowest level in over 10 years, as buyers continued to take a breather to adjust to the new interest rate environment.

Cumulative Year-to-date Sales

Despite the strong start to the year, 2022 YTD sales (42,247) are now 20% below the 10-year average (48,694)

Inventory

November inventory (14,509 active listings) decreased from the previous month, and remain 17% below the 10-year average (17,463 average).

Sales to Active Listings

Despite the low sales, low inventory kept the Sales to Active Listing Ratio at 17%, indicating stabilizing prices.

Months of Inventory

Similarly, Months of Inventory rose to 5.9 MOI, indicating a balanced market.

Want to learn more about these stats or discuss your move to Macdonald Realty?

Check out careersinbcrealestate.com to connect today!

November 2022 Lower Mainland Monthly Market Update

November 2022 Lower Mainland Monthly Market Update

November 2022 – Lower Mainland Monthly Update (REBGV & FVREB)

Metro Vancouver & Fraser Valley sales are at their lowest in over 10 years.

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

Lowest number of Sales for October (2,804) in over 10 years. The 10-Year Average for October is 4,439.

Cumulative Year-to-date Sales

Despite the strong start to the year, 2022 YTD sales (39,794) are now 10% below the 10-year average (44,693)

Inventory

October inventory (15,494 active listings) decreased slightly from the previous month, and remains 20% below the 10-year average (19,142 average).

Sales to Active Listings

 Despite the low sales, low inventory kept the Sales to Active Listing Ratio above 18%, indicating stabilizing prices.

Months of Inventory

Similarly, Months of Inventory grew to 6.1 MOI, indicating a balanced market.

Want to learn more about these stats or discuss your move to Macdonald Realty?

Check out careersinbcrealestate.com to connect today!

October 2022 Lower Mainland Monthly Market Update

October 2022 Lower Mainland Monthly Market Update

October 2022 – Lower Mainland Monthly Update (REBGV & FVREB)

Metro Vancouver & Fraser Valley sales are at their lowest in over 10 years.

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

Sales in September fell to their lowest level in over 10 years, as buyers continued to take a breather to adjust to the new interest rate environment.

Cumulative Year-to-date Sales

 Despite the strong start to the year, 2022 YTD sales (36,990) are now 10% below the 10-year average (40,253)

Inventory

September inventory (15,776 active listings) increased slightly from the previous month, but remain 20% below the 10-year average (20,334 average).

Sales to Active Listings

Despite the low sales, low inventory kept the Sales to Active Listing Ratio above 16%, indicating stabilizing prices.

Months of Inventory

Similarly, Months of Inventory grew to 6.1 MOI, indicating a balanced market.

Want to learn more about these stats or discuss your move to Macdonald Realty?

Check out careersinbcrealestate.com to connect today!

September 2022 Lower Mainland Monthly Market Update

September 2022 Lower Mainland Monthly Market Update

September 2022 – Lower Mainland Monthly Update (REBGV & FVREB)

Metro Vancouver & Fraser Valley sales are at their lowest in over 10 years.

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

Sales in August fell to their lowest level in over 10 years, as buyers took a breather to adjust to the new interest rate environment.

Cumulative Year-to-date Sales

Despite the low summer sales, 2022 YTD sales (34,406) are still close to the 10-year average (36,193)

Inventory

August inventory (15,533 active listings) actually fell from the previous month, and remain 20% below the 10-year average (19,958 average).

Sales to Active Listings

Despite the low sales, low inventory kept the Sales to Active Listing Ratio above 18%, indicating stabilizing prices.

Months of Inventory

Similarly, Months of Inventory fell to 5.4 MOI, indicating a balanced market.

Want to learn more about these stats or discuss your move to Macdonald Realty?

Check out careersinbcrealestate.com to connect today!

August 2022 Lower Mainland Monthly Market Update

August 2022 Lower Mainland Monthly Market Update

August 2022 – Lower Mainland Monthly Update (REBGV & FVREB)

Metro Vancouver & Fraser Valley sales have cooled off considerably.

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

Sales in July fell to their lowest level in over 10 years, as buyers took a breather to adjust to the new interest rate environment.

Cumulative Year-to-date Sales

Despite the low summer sales, 2022 YTD sales (31,519) are still just below the 10-year average (32,022)

Inventory

July inventory (16,701 active listings) actually fell from the previous month, and remain 20% below the 10-year average (20,620 average).

Sales to Active Listings

Despite the low sales, low inventory kept the Sales to Active Listing Ratio above 17%, indicating stabilizing prices.

Months of Inventory

Similarly, Months of Inventory rose to 5.8 MOI, indicating a balanced market for the first time since the pandemic.

Want to learn more about these stats or discuss your move to Macdonald Realty?

Check out careersinbcrealestate.com to connect today!