Vancouver’s detached homes edge toward buyer’s market as condos favour sellers
VANCOUVER — Condo and townhouse sales in Vancouver are firmly in a seller’s market, while the market for detached homes is edging toward a buyer’s market, new figures from The Real Estate Board of Greater Vancouver suggest.
In September, the sales-to-active-listings ratio was 14.6 per cent for detached homes, 42.3 per cent for townhomes and 60.4 per cent for apartments, according to the REBGV.
“Downward pressure on home prices does occur when the ratio typically dips below around 12 per cent for a constant period,” said Jill Oudil, board president.
For instance, that could mean during a particular month there are three sales for 25 active listings.