April 2017 - Greater Vancouver Housing Market Update
Condo and Town House sales continue to lead the market in Metro Vancouver.
The stastistics tell the story. The sales to active listings ratio is 26 per cent for detached homes, 58.2 % for townhomes, and 82.2 % for condominiums. Ratios over 20 % are considered a Seller’s market.
Construction has been at a record pace over the last year but until these projects come on stream, strong demand and lack of inventory will continue to put upward pressure on prices.
It is important to remember that stats for different sub areas, types of homes and price ranges often vary quite a bit from the averages calculated for the whole of Metro Vancouver.
For more detailed information on your sub area or any other real estate questions feel free to contact me.