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The GVA Housing Market Report for September 2018: Detached Houses
- 1. SELLER’SMARKET BUYER’SMARKET BALANCEDMARKET AREA ABBOTSFORD BURNABY CLOVERDALE COQUITLAM LADNER LLANGLEY MAPLERIDGE MISSION NEW WESTMINSTER NORTHDELTA NORTHVANCOUVER PITTMEADOWS POPORTCOQUITLAM PORTMOODY RICHMOND SURREY SURREY-WHITEROCK TSAWWASSEN VANCOUVEREAST VVANCOUVERWEST WESTVANCOUVER SALESTOLISTING RATIO(JULY) 16% 9% 10% 10% 117% 19% 22% 17% 19% 16% 12% 118% 15% 12% 10% 13% 11% 8% 9%9% 7% 6% Sources:RealEstateBoardofGreaterVancouver,FraserValleyRealEstateBoard,SnapStats,Landlordbc.ca,CMHCRentalMarketReport SALESTOLISTING RATIO(AUG) 19% 9% 21% 12% 112% 16% 21% 23% 13% 17% 9% 338% 13% 5% 7% 13% 8% 10% 77% 8% 5% AVESOLDPRICE $758,500 $621,250 $920,000 $1,325,000 $947,500 $979,000 $85$856,250 $650,000 $1,321,428 $943,400 $1,512,500 $907,500 $929,400 $$1,330,000 $1,570,500 $992,750 $1,375,000 $1,110,000 $1,550,000 $2,900,000 $$2,500,000 MONTH-TO-MONTH TYPECHANGE 3% 0% 11% 2% --5% -2% -1% 6% -6% 0% -3% 220% -3% -7% -3% -0% -3% 2% --1% 1% -1% PortMoody Port Coquitlam Coquitlam NewWestminster Burnaby Richmond Langley Langley(District) Abbotsford Mission MapleRidgePittMeadows Delta Ladner Tsawwassen WhiteRock Surrey Cloverdale Vancouver West Vancouver East West Vancouver North Vancouver Howcompetitiveisyourhousingmarket?TomeasurehowcompetitiveeachmarketisintheGreaterVancouver Area,Zolocalculatedthesales-to-active-listingsratioforallmajorareasintheLowerMainland.Usingthe sales-to-active-listingsratio— andnotthesales-to-new-listingsratio— providesamoreaccuratesnapshotofthe currentcompetitivenessinthehousingmarket.Onlyusingnewlistingsmeansneglectingcurrentmarketsupply anddemandshifts.Byusingactivelistings,wecancapturetherapidreductionininventoryorpotentialinventory buildups,whichindicateincreaseddemandorsupply.Thesemarketshiftscanhelpalertbuyersandsellersto shiftingmarketdemand. TTocalculatethesales-to-active-listingsratio,wedividethenumberofsalesbythecurrentnumberofactivelistings forthatarea.Ahighpercentageindicatesrapidsalesactivitywhichisindicativeofaseller’smarket.Alow percentageindicatesslowersalesactivity,whichisbetterforbuyers.AccordingtotheGVAboards,aratiobetween 0%and11%isabuyer’smarket;aratiobetween12%and19%isabalancedmarket;anyratioover20%isaseller’s market. TheGVAHousingMarketReportfor September2018:DetachedHouses ZoloisoneofCanada’smostpopularonlinenationalrealestatemarketplaces. Eachmonthmorethanfivemillionhomeshoppersstarttheirrealestatesearch usingZolo.Theseusersgetthedataandresourcesneededtomake better-informedpropertydecisions.