2017 Summary: After reaching record levels in 2015 and 2016, Greater Vancouver home sales returned to more historically normal levels in 2017. Total home sales in 2017 went down 9.9% from 2016, down 15% from 2015. Competition was intense in the townhouse and apartment markets, with multiple offer situations becoming commonplace. The detached home market operated in a more balanced state, giving home buyers more selection to choose from and more time to make decisions.
December 2017 Stats
Housing Market Condition: Housing market condition and pricing can vary depending on area and property type so please consult me for your area of interest. Generally analysts say that a buyer’s market condition occurs when the sales ratio is 12% or less. Balanced market occurs when the ratio is between 13% and 20%. Seller’s market occurs when the ratio is 21% or more.