RE/MAX Oceanview Weekly Report July 26 - Aug 1, 2022

For the past 10 years, we have provided the Detached Sales To List Ratio as a part of our Weekly Report. This Ratio is based on the number of detached sales in the past 30 days divided by the current detached listing count. The number yielded helps us predict pricing trends. For instance, a figure below 12% for any sustained period of time suggests a buyer’s market and lower prices. A number between 12% and 19% indicates a balanced market with steady prices. And a number over 19%, as we saw between June 2020 and June 2022, shows a seller’s market and rising prices. This Week's Sales To List Ratio, 13%, supports the recent trend of a more balanced market. Where do we go from here? A lot depends on listings. If the supply stays low, the Ratio will likely remain in the teens. If the supply increases, the Ratio could fall into buyer’s market territory.

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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.