Market Type for all Areas in British Columbia for Sept 2019

By
Real Estate Agent with RE/MAX City REC# 153716

Hows The Market? Here's a comprehensive look at all areas in British Columbia.

 

In General, Analysts indicate that prices decrease when the Sales-to-Active-Listings Ratio dips below 12% for several months and conversely increase when it surpasses 20% for several months. 

A Buyer's Market is one in which the Sales-to-Active-Listings ratio is under 12% and puts downward pressure on prices after consecutive months in Buyer's territory.   

A Balanced Market is one in which the Sales-to-Active-Listings ratio is between 12% and 20%.   

A Seller's Market is one in which the Sales-to-Active-Listings ratio is over 20% and puts upward pressure on prices after consecutive months in Seller's territory.

 

In Northern BC the Sales-to-Active-Listings ratio was 15.92% percent and the Months of Inventory ratio 6.28 which resulted in a Balanced Market. 

In Chilliwack the Sales-to-Active-Listings ratio was 19.04 percent and the Months of Inventory ratio 5.25 which resulted in a Balanced Market.  

In Fraser Valley the Sales-to-Active-Listings ratio was 19.60 percent and the Months of Inventory ratio 5.10 which resulted in a Balanced Market.  

In Greater Vancouver the Sales-to-Active-Listings ratio was 16.59 percent and the Months of Inventory ratio 6.03 which resulted in a Balanced Market.  

In Kamloops the Sales-to-Active-Listings ratio was 19.18 percent and the Months of Inventory ratio 5.21 which resulted in a Balanced Market.  

In Kootenay the Sales-to-Active-Listings ratio was 15.62 percent and the Months of Inventory ratio 6.40 which resulted in a Balanced Market.  

In Okanagan Mainline the Sales-to-Active-Listings ratio was 15.71 percent and the Months of Inventory ratio 6.37 which resulted in a Balanced Market.  

In Powell River the Sales-to-Active-Listings ratio was 13.86 percent and the Months of Inventory ratio 7.22 which resulted in a Balanced Market.  

In South Okanagan the Sales-to-Active-Listings ratio was 11.97 percent and the Months of Inventory ratio 8.35 which resulted in a Buyer's Market.  

In Northern Lights the Sales-to-Active-Listings ratio was 7.67 percent and the Months of Inventory ratio 13.03 which resulted in a Buyer's Market.  

In Vancouver Island the Sales-to-Active-Listings ratio was 21.56 percent and the Months of Inventory ratio 4.64 which resulted in a Seller's Market.  

In Victoria the Sales-to-Active-Listings ratio was 26.15 percent and the Months of Inventory ratio 3.82 which resulted in a Seller's Market.  

In the Province of BC, overall, the Sales-to-Active-Listings ratio was 17.74 percent (17.69 in August, 19.05 in July, 16.33 in June 19.80 in May and 17.20 in April of 2019) and the Months of Inventory ratio 5.64  (5.65 in August, 5.25 in July, 6.12 in June, 5.05 in May and 5.81 in April of 2019) which resulted in a Balanced Market. 

Based on the preceding analysis, we can see that the trend is towards a Balanced Market overall depending on the Region despite the fact that some areas are Seller's Markets(Vancouver Island and Victoria) at this point. 

The raw numbers for the preceding Analysis have been taken from BCREA's monthly Real Estate Report which is attached in the first paragraph of the Real Estate Update.

Posted by

 

PRO-ACTIVE REAL ESTATE MARKETING 

Tom Ikonomou - RE/MAX City.  

Direct: 778.879.8366  ·  Office: 604.439.2266  ·  102-2806 Kingsway.  Vancouver, BC  V5R 5T5

 

    Serving the following Areas of  Greater Vancouver: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, Pitt Meadows, Maple Ridge, and South Delta.

 All Rights Reserved. Trademarks REALTOR® & MLS® owned or controlled by the Canadian Real Estate Association. Used under licence"All information provided by this author is only an opinion, is not guaranteed, may be based on information collected from several sources, and may be time sensitive. It is not necessarily representative of the opinions of RE/MAX City..

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Rainmaker
1,854,630
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

send us that karma - we are in a softening market - and need some good vibes!

Oct 17, 2019 07:02 PM #1
Rainmaker
651,295
Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update, all the best to you as you get many of these properties listed and sold.

 

Oct 17, 2019 08:26 PM #2
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