October 2021 Insights - REBGV

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


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