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

Metro Vancouver & Fraser Valley sales have continued to decelerate. 

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.

Cumulative Year-to-date Sales

Year-to-Date sales remain above the 10-year average (24,914 sales vs 22,266 average)

Inventory

 Inventory remains stubbornly low, coming in at 20% below the 10-year average (16,193 listings vs 20,465 average)

Sales to Active Listings

Sales to Active Listings continues to drop, and now sits at 26%, indicating stabilizing prices.

Months of Inventory

Months of Inventory continues to grow, and now sits at 3.8, but still below the 10-year average of 4.4.

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

Check out careersinbcrealestate.com to connect today!

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

Metro Vancouver & Fraser Valley sales have moderated.

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 have moderated in April and are now at the 10-year average (4,869 sales in April vs 4,969 average).

Cumulative Year-to-date Sales

Year-to-Date, we are still 20% above the 10-year average (20,636 sales vs 16,997 average).

Inventory

Inventory in April is no longer the lowest on record, but is still 25% below the 10-year average (14,183 listings vs 19,466 average).

Sales to Active Listings

SAL has dropped from 56% in March to 34% in April. Typically, a SAL of 34% would indicate rising prices, but given the trajectory, it likely means moderating prices.

Months of Inventory

Similarly to SAL, MOI has grown from 1.8 months to 2.9 months (a balanced market is 5.5 – 6.5 months), indicating a still tight, but moderating market.

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

Check out careersinbcrealestate.com to connect today!

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

Metro Vancouver & Fraser Valley sales continue to be strong, but show signs of slowing.

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: Metro Vancouver (combined @rebgv & @fvreb) sales continue to be strong, but show signs of slowing. 3^rd highest March on record. 25% lower than in 2021, but 30% higher than the 10-year average

Cumulative Year-to-date Sales

YTD sales have moderated from 2021, but are still the 3^rd highest on record (2021 #1; 2016 #2).

Inventory

Standing inventory continues to be the biggest challenge. Lowest March inventory in a generation. 12,327 active listings are 15% below last year (14,157) and 35% below the 10-year average (18,169).

Sales to Active Listings

With a SAL of 56%, this indicates there is considerable support for higher prices.

Months of Inventory

Currently, there is only 1.8 months of inventory. Normally, there should be 4-5 months.

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

Check out careersinbcrealestate.com to connect today!

December 2021 – Lower Mainland Monthly Update (REBGV & FVREB)

Record breaking Year will set New standards for 2022

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 have officially broken all records in Greater Vancouver. Sales in November (5,400) surpassed the previous high in 2015 (5,290).

Cumulative Year-to-date Sales

Sales to the end of November (67,256) have already surpassed the previous full-year high in 2016 (64,055)

Inventory

Standing Inventory (10,192) is the lowest on record. The previous low (10,275) was in December 2016

Sales to Active Listings

Sales to Active Listings of 53% indicates prices should continue to rise

Months of Inventory

Months of inventory has not been above 3 months for all of 2021. That has never happened before.