Take a look at what happened in the Whistler and Squamish real estate market in August:
What Rate are Properties Selling?
The three types of markets shown in the graph below are measured by a sales-to-active-listings ratio which essentially is the rate at which properties are selling. Expressed as a percentage, you can calculate the ratio by taking the total number of sold homes in any month and dividing it by the total number of active listings at the end of the same month.
A buyer's market is a situation in which supply exceeds demand, giving purchasers an advantage over sellers in price negotiations. The opposite of a buyer's market is a seller's market, a situation in which demand exceeds supply and owners have an advantage over buyers in price negotiations.
The sales-to-active-listings ratio for:
- a seller's market, which means there are more buyers than properties available, is represented by a ratio of 20 % or higher
- a buyer's market, which means there are properties available than buyers, is represented by a ratio of 14 % or lower
- a balanced market, where supply and demand are pretty much the same, rests between 14-19 %.
For all property types in August 2018, the sales-to-active-listings ratio for Whistler was 20.53%, indicating that, on average, there are more buyers than properties available.
For all Squamish property types, the sales-to-active-listings ratio for August 2018 was 22.80 %, again indicating that there are more buyers than properties available.
If you are interested in a full market report for an area in the Sea to Sky Corridor or any other Vancouver location, please get in touch and let us know your interested area so I can send you a detailed Stats Centre Report.
This data is from the Real Estate Board of Greater Vancouver's monthly statistical reports.