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The GVA Housing Market Report for September 2018: Condos & Townhouses
- 1. SELLER’SMARKET BUYER’SMARKET BALANCEDMARKET AREA ABBOTSFORD BURNABY CLOVERDALE COQUITLAM DOWNTOWNVANCOUVER LLADNER LANGLEY MAPLERIDGE MISSION NEW WESTMINSTER NORTHDELTA NORTHVANCOUVER PPITTMEADOWS PORTCOQUITLAM PORTMOODY RICHMOND SURREY SURREY-WHITEROCK TSAWWASSEN VVANCOUVEREAST VANCOUVERWEST WESTVANCOUVER SALESTOLISTING RATIO(JULY) 27% 22% 41% 25% 21%21% 30% 32% 27% 24% 41% 17% 30%30% 39% 38% 39% 24% 26% 29% 115% 33% 28% 17% Sources:RealEstateBoardofGreaterVancouver,FraserValleyRealEstateBoard,SnapStats,Landlordbc.ca,CMHCRentalMarketReport SALESTOLISTING RATIO(AUG) 18% 25% 33% 31% 224% 22% 26% 25% 36% 30% 19% 332% 20% 37% 28% 25% 28% 22% 115% 32% 24% 14% MONTHSOF INVENTORY 5.62 4.08 3.05 3.18 44.13 4.56 3.84 4.02 2.80 3.30 5.20 33.10 5.00 2.69 3.63 3.99 3.53 4.45 66.50 3.15 4.10 7.31 AVESOLDPRICE $335,000 $621,250 $528,000 $627,000 $794,000 $679,000 $$490,000 $480,000 $407,500 $530,000 $594,550 $705,000 $425,000 $4$488,000 $591,000 $645,000 $440,500 $590,100 $572,500 $635,000 $881$881,000 $1,040,000 MONTH-TO-MONTH TYPECHANGE -9% 3% -8% 6% 33% -8% -6% -2% 12% -11% 2% 22% -19% -1% -11% 1% 2% -7% 0%0% -1% -4% -3% 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:Condos&Townhouses ZoloisoneofCanada’smostpopularonlinenationalrealestatemarketplaces. Eachmonthmorethanfivemillionhomeshoppersstarttheirrealestatesearch usingZolo.Theseusersgetthedataandresourcesneededtomake better-informedpropertydecisions.