What you need to know about the Real Estate market in Greater Vancouver
Posted by Tony Cikes on
The Spring market is here and so are the sales for Greater Vancouver. Sales are up as we saw 965 homes sell in the month of April which is up 13.9% from last April. We are also seeing less homes for sale as the listing inventory is down by -9.3% when we compare the amount of homes that were on the market this April compared to the same time last year.
So for April 2014... we experienced a "Seller's Market" because the list to sales ratio was 29.61%. It is a "Balanced Market" when the ratio ranges from 15% to 20%. It is deemed to be a "Buyer's Market" when we are below 15% and a "Seller's Market" when we are above 20%.
We finished April with 4.15 months of inventory. That inventory level tells me that prices are rising. When inventory is…
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