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Rennie reports it’s now a buyer’s market for detached homes in Vancouver West Side and West Vancouver – The Georgia Straight

Change has come to The two Costliest places for detached houses in Metro Vancouver.

The West Facet of Vancouver and West Vancouver At the second are a purchaser’s market.

The shift in market situations for single-household houses Inside these areas was famous Inside the June 2022 version of the month-to-month rennie consider.

Rennie is A critical exact-property advertising agency, Which regularly comes up with market reviews and analyses.

On June 6, the Straight reported that The market for detached houses in areas coated by the Greater Vancouver exact-property board has statistically Discover your self to be balanced.

The exact-property board reported that the gross sales-to-lively-listings ratio for single-household houses in Might 2022 shifted to 18.3 %.

To elucidate, a market is balanced when the gross sales-to-listings ratio is between 12 % and 20 %.

Sellers and consumers are on A great area when the ratio sits at that differ.

It is a vendor’s market when the ratio goes over 20 %, Which suggests prices Are likely to go up.

It Discover your self to bes a purchaser’s market when the ratio comes under 12 %, which usually leads prices to drop.

Properly, rennie reported that the gross sales-to-listings ratio for detached houses Inside the West Facet of Vancouver in Might 2022 was Proper down to 11 %.

Rennie additionally reported that gross sales of single-household residences On this An factor of The metropolis fell month-over-month in Might by 14 %, and have …….

Source: https://www.straight.com/news/rennie-reports-its-now-a-buyers-market-for-detached-homes-in-vancouver-west-side-and-west

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