This month on the market, Home buyers and sellers were less active in Metro Vancouver throughout the first quarter of 2018. Some quick important stats are:
- this month is a 5.4 per cent increase compared to February 2018.
- This represents the region’s lowest first-quarter new listings total since 2013.
- The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,380, a 10.5 per cent increase compared to March 2017 (7,586) and a 7.1 per cent increase compared to February 2018 (7,822)
- For all property types, the sales-to-active listings ratio for March 2018 is 30 per cent. By property type, the ratio is 14.2 per cent for detached homes, 39.9 per cent for townhomes, and 61.6 per cent for condominiums.
Phil Moore (President of the Real Estate Board of Greater Vancouver) said: “Even with lower demand, upward pressure on prices will continue as long as the supply of homes for sale remains low. Last month was the quietest March for new home listings since 2009 and the total inventory, particularly in the condo and townhome segments, of homes for sale remains well below historical norms.”