Summary: Greater Vancouver home sales went down 43.5% from the same month a year ago. Last month’s sales were 36.1% below the 10-year September sales average. The supply of homes for sale continued to increase while home buyer demand remained below typical levels for this time of year. For all property types, Greater Vancouver housing market is moving from balanced market to buyer's market. For those who are looking for detached houses, now is a good time to buy.
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.