Strong Demand, Below Average Inventories Continue to Drive the Metro Vancouver Market
Home sales in November increased 26.2 percent from November 2016 and were 17 percent above the ten year average. Condos and townhomes continue to be the strongest categories. The sales to active listings ratio for condos in November was a whopping 67.8 percent with townhomes coming in at 32 percent and detached homes remaining at a balanced market ratio of 15.9 percent.
It will be interesting to see how much the new tougher lending policies affect the market when they are implemented in January 2018.
If you require more detailed statistics on a sub area of interest to you or have any real estate questions you are welcome to contact me at your convenience.
Happy Holidays !!!