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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