The sales-to-active listings ratio for September 2016 is 24.1%. This is the lowest this ratio has been since February 2015. Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12% mark for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.
"Supply and demand conditions differ today depending on property type. We’re seeing more demand for condominiums and townhomes today than in the detached home market. Changing market conditions are easing upward pressure on home prices in our region. There’s uncertainty in the market at the moment and home buyers and sellers are having difficulty establishing price as a result. To help you understand the factors affecting prices, it’s important to talk with a REALTOR®.” - Dan Morrison, President of Real Estate Board of Greater Vancouver (REBGV)
For more in-depth information on September's market, please click below:
Greater Vancouver: REBGV September 2016 Stats Package
Fraser Valley: FVREB September 2016 Stats Package