Below are links to statistics pertaining to Sale prices and sales success ratios for neighbourhoods throughout the Lower Mainland. If you do not see a neighbourhood that you are interested in, pleas feel free to contact me any time by telephone (604-839-2501) or by email: firstname.lastname@example.org.
What’s the difference between a buyer’s and seller’s market?
The real estate market is cyclical – which is why you may have heard the term, “real estate cycle.” Several key factors influence this cycle, including interest rates, employment growth, investment growth, construction and even immigration. All influence whether there is a buyer’s market or a seller’s market.
A buyer’s market is when there are many more homes for sale than there are buyers. As a result, prices may drop over time as home owners become eager to sell their property.
A sellers market is when interest rates are low so there are many qualified buyers and not many homes for sale. Buyers must make quick decisions and face multiple offers on the home they have chosen to buy and prices can rise.
To measure market activity, the Real Estate Board has a unique tool. It’s our Sales-to-Listings (aka. Sales Success) ratio which measures the balance between demand and supply:
Official Market Types (Metro & Greater Vancouver)*:
Market Type/Sales Ratio
Sellers Market: 21% & Greater
Balanced Market: 15 to 20%
Buyers Market: 14% & Less
*according to the Real Estate Board of Greater Vancouver