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