Vancouver Real Estate Statistics - November 2018

We experienced a typical Fall "bounce" in October with a small burst of sales activity.  Months of Inventory (MOI*) fell from highs not seen since the credit crises to 11.76 for detached homes, 5.61 for attached homes and 5.27 for apartments.  Detached homes remain well entrenched in a buyers' market. 

 
Sales volumes increased slightly in October compared with September.  We are likely to see them fall through November and December.


Active listings fell for houses and attached homes but rose for apartments.  This may not bode well for the apartment market which thus far has had more resilient sale prices than houses and attached homes.


Average sale prices continue to trend downwards since highs in 2017 and early 2018.

For better or worse, we are likely to see prices continue to head downwards until sometime in early 2019.  

*Months of Inventory (MOI) is a measure derived from the number of active listings during a given month divided by the number of sales that month. It indicates the theoretical length of time it would take to sell all of the properties on the market if nothing changed. Historically, 0-5 months of inventory has generally implied upward price pressure ("Seller's Market"), 5-8 months of inventory has indicated a flat market with respect to pricing  ("Balanced Market") and over 8 months of inventory has, for the most part, precipitated downward price pressure ("Buyer's Market").

Sam Wyatt - Vancouver Realtor.