September 2021 – Lower Mainland Monthly Update (REBGV & FVREB)
Prices this Autumn are expected to increase overall
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
Monthly sales are significantly above the long term average.
Cumulative Year-to-date Sales
YTD sales are significantly above the long-term average and we are on pace to see the highest number of sales on record.
Inventory remains below the long-term average.
Sales to Active Listings
Sales to active listing is significantly elevated, indicating prices are expected to rise.
Months of Inventory
Months of Inventory is significantly depressed, indicating prices are expected to rise.