significant pullback in activity

West Vancouver detached 2018 monthly home sales were well below each month in 2017. 

Year-to-date sales end of June were down 45% from 2017, a significant pullback in sale activity!  In addition, upon reviewing stats as far back as 1987 for the same time frame , 2018 YTD  sale activity totals came up the lowest!

Stats compiled by the Real Estate Board of Great Vancouver show West Vancouver's detached house market has been entrenched in buyer's territory the past year.  It's sales-to-active listings ratio has sustained less than 11% from from July 2017 to June 2018.

The sales-to-active listings, over a sustained period of time determines the market:
Balanced Market
A balanced market occurs when the sales-to-active listing ratio is between 12-19%. In a balanced market prices should rise in-line with the long term average of inflation.
Seller’s Market
A Seller’s market is when there is a higher ratio of sales to listing, typically indicated by a sales-to-active listings ratio of 20% or higher. This causes upward pressure on pricing.
Buyer’s Market
A Buyer’s market is when there is a lower ratio of sales to listing, typically indicated by a sales-to-active listings ratio of 11% or lower. This causes downward pressure on pricing.

Would you like to have a more in-depth conversation about the market, buying and or selling?

We'd be please to do so, but only after reviewing and completing new mandatory disclosures, a form called 'Disclosure of Representation in Trading Services' or 'DRTS'.  Click here for a copy of 'DRTS'.  Click here to review 'Disclosure of Risks to Unrepresented Parties.

As of June 15, new rules were introduced by Real Estate Council of British Columbia to change the way REALTORS® provide service to the consumer. The new rules provide you with greater protection as a home buyer and or seller!