Lower Mainland Summary
- Sales slowed in December, with 2,182 sales in the month. The 10-Year Average is 3,327.
- Inventory key point: Current Inventory (13,427) is now above the 10-Year Average (12,761).
- At 6.2 Months of Inventory, Prices have traditionally softened.
- Sales to active listings ratio: 16%
Sales
Sales (2,182) were about the same as a year ago (2,011), and were 35% below the 10-year average (3,327).
Cumulative YTD Sales
2023 ended up as one of the slowest years in recent memory as sales (40,938) remain far below the 10-year average (52,529).
Inventory
Inventory (13,427 active listings) fell as year-end approached, but remain above the 10-year average (12,761 average).
Sales to Active Listings
Low sales and rising inventory have the Sales to Active Listing Ratio at 16%, indicating softening prices.
Months of Inventory
Months of Inventory fell to 6.2 MOI, indicating a slow market and softening prices, but more an indication of the traditionally slow winter market.
