Ladner Tsawwassen Real Estate Update October 2021

Ladner Tsawwassen Real Estate Update October 2021

Thanks for taking the time to look at my monthly real estate update for South Delta and the Real Estate Board of Greater Vancouver (REBGV).

Here is a link to the complete set of charts and graphs – it may be useful to refer to them as you read through this piece!

Sales and Listings – Supply versus Demand

Sales continue to be above the 10 year average (by 20.8%) for the month of September while new listings were only 1.2% below the 10 year average for the same period.

However it is noted that the September sales level is actually down 19.2% from September 2020 and were essentially the same as Augst 2021.

Sales to New Listings Ratio

I refer to this as a ‘market barometer’ which sometimes foreshadows emerging trends.

Almost always this ratio increases from September to October – no doubt a seasonal effect.

Since 2007, for the total REBGV, Ladner and Tsawwassen it has only decreased 3 times out of 42 cases – twice in Ladner and once in Tsawwassen.

Last month the ratio decreased for all 3 areas!

I’m not sure if this is any kind of early sign of things to come, but you heard it here first!

Reviewing these graphs needs a careful look, but here they are:

Prices

Prices have been pretty stable since the run up in the spring but last month there was a bit of an uptick again:

Locally

Here are price distribution graphs for each of Ladner and Tsawwassen:

 

The lingering COVID pandemic and the human behaviour changes it evokes continues to affect our real estate market!

 

Call me to bring professional and experienced ‘added value’ to your real estate needs.

call/text:  604.603.8538

or email:  dbauck@deanbauck.com