Average sales or list prices will tell you where the market is currently at but to determine where the market is going you need to watch a few other numbers.
As an example from the Monthly Report for February 2021 of all detached homes in Greater Vancouver. The following indicators (numbers give you a greater picture of the direction home prices will be in the near future.
# Active Listings = 3,507
# Listings Sold = 1,248
Median List Price = $1,599,000
Median Sale Price = $1,650,000
Av Days on Market = 32
List/Sale Price Ratio = 103%
# Months of Inventory = 2.8
Market Type (sellers) = 35.6%
To see how these numbers affect your homes value., Call Tom direct 778.879.8366
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.