Stats!
From the REBGV
Transcription:
High prices,new tax announcements, rising interest rates and stricter mortgage requirements affected home buyer and seller activity throughout the first quarter of 2018. Let's take a closer look. Realtors registered over 6500 home sales on the MLS during the first quarter of 2018 thirteen percent decrease from the same period last year and the lowest first quarter total since 2013 in March there was over 2,500 sales on the MLS this is 30 percent below last year's pace and is down 23% from the 10-year march average looking at supply the total number of listings currently available for sale on MLS is now 8300 this is well below historic norms particularly for the condo and townhome segments as you can see here if these trends persist low supply will continue to put upward pressure on prices even with lower mainland going forward to better understand this relationship between supply demand in the market we look at the ratio of sales to active listings downward pressure on home prices can occur when the ratio dips below the 12 percent mark while home prices can experience upward pressure when it surpasses 20% force abstain periods this ratio for all property types across Metro Vancouver today is 30% broken down by property types we see single-family homes are approaching a balanced market while condos and townhomes remain firmly in seller's market territory as a result townhouse and condo prices continue to trend upward increasing four and six percent in the first quarter and 18 and 26 percent over last year detached home prices in Metro Vancouver have been more stable over the past three months with roughly seven percent increase over last year. To help you navigate the changing conditions in today's housing market it's important to work with your local realtor for further housing market information go to the news and statistics section of this website for the Real Estate Board of Greater Vancouver I'm Phil Moore
778-388-1359 Mobile | 
604-714-1700 Office