November 2019 Market Insights
Home buyer activity has returned to more historically typical levels in Metro Vancouver after a quieter first half of 2019.

Real Estate Board of Greater Vancouver's President Ashley Smith gives a rundown of the November housing market for Metro Vancouver.


CLICK HERE TO VIEW November 2019 Market Insights

Demand:
  • 2,498 sales in November 2019 on MLS
    • 55.3% higher than previous November 2018
    • 4% higher vs. our 10-year average
Supply:
  • 2,987 new listings in November 2019
  • bringing to 10,770 total listings 

It'll be important to watch home listing levels over the next few months to see if supply stays in line with home buyer demand.

Sales-to-Active-Listings Ratio = Inventory of homes for sale (Homes Sold) vs. # of sales in a month.

23% is the current ratio (Seller's Market):
  • 17% - Detached Homes (Balanced Market)
  • 25% - Townhomes (Seller's Market)
  • 29% - Condos (Seller's Market)
Benchmark price for all Residential types = $993,700 (-4.6% vs. Last Year)
  • Detached House: $1,415,400 (-5.8% vs. Last Year)
  • Townhomes: $772,800 (-4.4% vs. Last Year)
  • Condos: $651,500 (-3.8% vs. Last Year)

In today's market, intensity of home buyer's demand depends on Neighbourhood; Property Type; and Price Point. 

Thanks for visiting.  Please let me know if you have any further questions.

Regards, 
Phil 

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