stronger market segment

(May 16, 2018 , posted in North Vancouver Strata)


Townhome total April sales in North Vancouver were up 9.5% from April 2017, up 20.5% from month before and up 25% from 10 Year Monthly Sales Average.  Total townhome sales ended the month up 8% from first four months of 2017.

New listings during April increased 19.5% from April 2017, up 32.5% from 10 Year Monthly New Listings Average.  Townhome inventory total end of April was up 45.5% from April 2017 yet down 30.5% from the 10 Year Monthly Inventory Average.

North Vancouver townhomes as well as apartments has been holding with seller's market conditions since January.  Sales-to-active listings ratio for NV townhomes:
52% January
34% February
50% March
55% April

The three classifications experts use to describe the balance of supply and demand in the housing market:
Seller's market
A seller’s market is when there are more people looking to buy then there are homes available. This causes a rise in price above the long-term average rate of inflation. Typically this is indicated by a sales-to-active listings ratio of 20% or higher.
Buyer's market
In contrast, a buyer’s market is when there are many more homes for sale than there are buyers. As a result, prices increase slower than the long-term average rate of inflation. In extreme circumstances this can cause prices to decline. Typically this is indicated by a sales-to-active listings ratio below 12%.
Balanced market
A balanced market occurs when supply and demand are about the same, with home prices rising in line with long-term average rate of inflation. Typically this is indicated by a sales-to-active listings ratio between 12% and 20%.


Check out more townhome market stats in the infographic below!

Real estate is local. If you are thinking about buying OR selling in today's market welcome your contact to share with you the exact market conditions in your area.

Sincerely,
June Conway
Real Estate Specialist
for John Jennings
604-828-7888
june@johnjennings.com
Royal LePage Sussex - John Jennings
www.JohnJennings.com

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