VANCOUVER, BC – June 4, 2018 – Home buyer demand continues to decline across the Metro Vancouver housing market.
Last month’s sales were 19.3 per cent below the 10-year May sales average. For all property types, the sales-to-active listings ratio for May 2018 is 25.1 per cent. By property type, the ratio is 14.7 per cent for detached homes, 30.8 per cent for town homes, and 41.7 per cent for condo's.
Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.
Maple Ridge Single family homes in the last 30 days have seen an increase in price by .80%
Maple Ridge Town Homes have seen 30 day decline in prices of -.80%
Maple Ridge condo's have had the biggest price drop in the last 30 days coming in at -1.1%
For home sellers to be successful in today’s market, it’s important to price your property competitively given the shifting dynamics we’re experiencing. It’s also important to work with your local Realtor to better understand these changing conditions.
If you have any questions please feel free to reach out anytime: Call or Text 604-726-1023
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