Follow me on Twitter!Find me on Facebook!Subscribe to my Feed!

Back to Blog
header

Market Update

What's Going on with the market?

Entering into October, a question that is being asked rather frequently is "Where is the inventory?". While mainstream media has been talking about rising inventory levels and a full fledged 'Buyer's market' for almost two months, the reality is that the statistics quite simply don't support it yet. The number of active listings across the board has been dropping since May and has really just levelled off in September without any noticeable increases in inventory levels at all. I admit that I am in fact a bit surprised by this as I have been expecting inventory levels to start to rise in the Fall and, while it may still happen, the market seems to have settled nicely in a fairly balanced state of affairs. With interest rates remaining low, and without a noticeable increase in active listings, it appears that things may remain this way through to the end of the year.

With this current stability, we are also seeing a levelling off with prices across the board. The one exception here is the downtown market, which saw a 13% increase in prices last month, though much of that increase can be attributed to the sales of several high end luxury homes that have skewed the number slightly. In spite of those sales, another interesting trend that we are seeing is a real slowdown in the higher price brackets. For both attached and detached properties, in both Vancouver West and Vancouver East, the absorption rate (ratio of active listings to sales in the past month) trails of noticeable as you look at higher priced homes in each category.

Please take a look through the new, more comprehensive statistics below and let me know if you have any questions. I think they will provide you with a better outlook and analysis of current happenings. Any suggestions or recommendations you have are always appreciated.

Rob Zwick

Vancouver West - Attached Statistics

Vancouver West Attached Statistics

Read more

Vancouver West - Attached Graph

West_Van Attached graph

Read more

Top of page

Rob Zwick

Vancouver West - Detached Statistics

West_Van_Detached STATS

Read more

Vancouver West - Detached Graph

West_Van_Detached graph

Read more

Top of page

Rob Zwick

Vancouver East - Attached Statistics

East Attached

Read more

Vancouver East - Attached Graph

East attached graph

Read more

Top Of Page

Rob Zwick

Vancouver East - Detached Statistics

east_Van_Detached

Read more

Vancouver - East Detached Graph

east van detached

Read more

Top Of Page

Rob Zwick

Vancouver Downtown Statistics

downtown

Read more

Vancouver Downtown Graph

Rob Zwick

downtown

Read more

Top Of Page

Comments

No comments

Post Your Comment:

*indicates required fields.
Your Name:*
Please note, your email will not be shown publicly
Your Email (will not be published):*
Comment:*
Please type the text as it appears above:
© Rob Zwick of RE/MAX® Crest Realty Westside 1428 West 7th Ave, Vancouver BC | Personal Real Estate Corporation | Site Map