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REBGV Neighbourhood Statistics by Area
Vancouver Real Estate
Leading into October
"Someone's is sitting in the shade today
because someone planted a tree a long time ago."
– W. Buffet
The fall has arrived and with it have come a significant influx of new listings resulting in the highest number of homes available for sale at any time this year. That said, it should be noted that the total amount of inventory still remains 6.2% below the 10-year seasonal average and overall demand continues to be strong with a sales-to-listing ratio around 18% (20% or above is typically representative of a seller's market).
As for how this shift in inventory levels has impacted prices, the overall HPI benchmark price for all residential homes types across Vancouver dipped 0.4% from August, but hovers 4.4% above where it was at this time last September.
Andrew Lis, REBGV economist commented:
"The upward shift in new listings has allowed overall inventory levels to recover modestly from the low levels we saw earlier this year. When we pair this dynamic with the slowdown in sales that typically occurs in the fall as a result of seasonal patterns, the outcome is more balanced market conditions overall.”
At the end of the day, with strategy and forethought there there are ways to work with the market to best capitalise on any opportunities. Feel free to reach out to discuss how we could more effectively align your specific needs with the current dynamics.
You can see the full real estate market report and press release from REBGV here.
I HAVE WEEKLY STATS AVAILABLE for those interested in more timely analyses of market activity in North Vancouver, West Vancouver, Vancouver West, East Vancouver and the Sunshine Coast. Just reach out if you would like these or other information about sales, new developments or new listings your specific community.
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