Latest Stats on Real Estate in Greater Vancouver
Closer alignment between home buyer and home seller activity brought greater balance to the Greater Vancouver housing market in February. Property sales totaled just over 2500 last month with makes it the third lowest total for February in the last decade.
There were 5,500 new listings added in the month which is slightly down from the same month a year ago but it is the second highest total since 1996. These new listings pushed the total to over 14,000 which is almost 20% higher than last year. Because of this the sales to active listings ratio has risen to 18% which puts us right in the centre of a balanced market (15%-20%). Prices have remained relatively stable in Greater Vancouver for the last 6 months.
The average time on market was 44 days in February which is a little better than the 55 days in January.