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Spring is here and it’s typically the busiest time in the Vancouver Real Estate market. Rising interest rates and new mortgage rules have somewhat reduced the number of home buyers. Even still, the supply of condos and townhomes can’t keep up with demand whereas the detached market is starting to go into Buyers’ Market territory.
A buyers’ market occurs when the sales to active ratio drops below about 14%, a sellers’ market is when the ratio is over 20% and a balanced market occurs when the ratio is between 14% and 20%.
The Sales to Active ratio for detached homes is currently 13%, townhomes are sitting at 37.6% and condos are at a whopping 59.7%
Have been thinking about moving up in the market from a townhome or condo? Now could be the perfect time!
Ready to jump into the market? Whether you are looking to buy, sell, or learn more about the market changes, reach out to our team today! We’ll help you make the right move!
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.
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