{"id":655,"date":"2018-11-15T10:00:31","date_gmt":"2018-11-15T15:00:31","guid":{"rendered":"http:\/\/www.juliafreeman.ca\/blog\/?p=655"},"modified":"2018-12-03T00:09:49","modified_gmt":"2018-12-03T05:09:49","slug":"home-listings-at-four-year-october-high-as-sales-remain-below-typical-levels","status":"publish","type":"post","link":"https:\/\/www.juliafreeman.ca\/blog\/2018\/11\/home-listings-at-four-year-october-high-as-sales-remain-below-typical-levels\/","title":{"rendered":"Home Listings at Four-Year October High as Sales Remain Below Typical Levels"},"content":{"rendered":"
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Home sale activity across Metro Vancouver remained below long-term historical averages in October.<\/p>\n

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,966 in October 2018, a 34.9 per cent decrease from the 3,022 sales recorded in October 2017, and a 23.3 per cent increase compared to September 2018 when 1,595 homes sold.<\/p>\n

Last month\u2019s sales were 26.8 per cent below the 10-year October sales average.<\/p>\n

\u201cThe supply of homes for sale today is beginning to return to levels that we haven\u2019t seen in our market in about four years,\u201d<\/strong> Phil Moore, REBGV president said. \u201cFor home buyers, this means you have more selection to choose from. For sellers, it means your home may face more competition, from other listings, in the marketplace.\u201d<\/p>\n

There were 4,873 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service\u00ae (MLS\u00ae) in Metro Vancouver in October 2018. This represents a 7.4 per cent increase compared to the 4,539 homes listed in October 2017 and a 7.7 per cent decrease compared to September 2018 when 5,279 homes were listed.<\/p>\n

The total number of homes currently listed for sale on the MLS\u00ae system in Metro Vancouver is 12,984, a 42.1 per cent increase compared to October 2017 (9,137) and a 0.8 per cent decrease compared to September 2018 (13,084).<\/p>\n

For all property types, the sales-to-active listings ratio for October 2018 is 15.1 per cent. By property type, the ratio is 10.3 per cent for detached homes, 17.3 per cent for townhomes, and 20.6 per cent for condominiums.<\/p>\n

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.<\/p>\n

\u201cHome prices have edged down between three and five per cent, depending on housing type, in our region since June,\u201d<\/strong> said Moore. \u201cThis is providing a little relief for those looking to buy compared to the all-time highs we\u2019ve experienced over the last year.\u201d<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Download the complete stats package here<\/strong><\/a>.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Home sale activity across Metro Vancouver remained below long-term historical averages in October. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled … [read more<\/a>]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"_links":{"self":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts\/655"}],"collection":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/comments?post=655"}],"version-history":[{"count":4,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts\/655\/revisions"}],"predecessor-version":[{"id":661,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts\/655\/revisions\/661"}],"wp:attachment":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/media?parent=655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/categories?post=655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/tags?post=655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}