Here is a monthly recap of the Vancouver housing market presented by Real Estate Board of Greater Vancouver.
Take away notes for the month of October 2021:
8,034 homes currently listed but the supply of homes are at a 3 year low and the lowest supply since 2018
There were 3,494 registered home sales on MLS which down 5% from last year yet 22% above the 10 year average for October
4,049 homes were listed for sale which is down 27% compared to October 2020
According to the sales to active listing ratio which is Sales divided by active listings (3,494/8,034) we’re sitting as 43%
Typically when this Ratio sits at 12% or below prices decline causing a buyer’s market and when the Sales to Active Listing Ratio sits at 20% or more prices climb causing a seller’s market.
Finally, this report noted that townhomes are were the demand presser is strongest, followed by apartments/condos and then detached homes
If you are more visual take a gander and the REGBV October 2021 Insight video
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.