market update

(November 21, 2014 )

Home sales in the Metro Vancouver housing market continue to outpace long term averages for this time of the year.

There were 3, 057 sales in October.  This up almost 15% compared to last year and 16% above the regions 10 year sales average for October.

In terms of listings there were 4,487 homes listed on the MLS in October. This brought the total number of homes currently for sale in the region to 13, 851.  This is down 9% compared to this time last year.

To help us better understand the strength of today's market we measure home buyer demand fueled by home sales against home sellers supply fueled by the number of home listings.  This measurement today gives us a Sales-to-Active Listing Ratio of 22%.  This is the highest this ratio has been in our market since May 2011.

Generally analyst say the downward pressure on home prices occurs when the ratio dips below the 12% mark while home prices often experience upward pressure when it reaches the 20 to 22% range in a particular community for a sustained period of time.

We've seen 

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