Fairview’s condo and townhouse real estate market was still seeing strong sales activity and demand in August. Many parts of Greater Vancouver are seeing a cooling trend with benchmark price declines and a declaration in the condo market. Despite this Fairview has not seen much of a slow down and remain in a firm Seller’s market.
How do we know? List to Sales Ratio
Fairview had an inventory of 83 condos and townhomes on the market with 31 sales resulting in a 37% list to sales ratio.
The BIGGER picture
Here’s the breakdown for condo’s & town homes on Vancouver’s Westside in December:
In August this year condo and townhouse inventory decreased by 5% and for the second consecutive month, benchmark prices rose by 5%, while total sales dipped by 17%.
How do we know? List to Sales Ratio
- A buyer’s market has a 0-12% list to sales ratio
- A balanced market has a 12-20% list to sales ratio
- A seller’s market has a 21% or greater list to sales ratio
Fairview had an inventory of 83 condos and townhomes on the market with 31 sales resulting in a 37% list to sales ratio.
The BIGGER picture
Here’s the breakdown for condo’s & town homes on Vancouver’s Westside in December:
• Overall a Sellers market at 24% list to sales ratio (2.4 out of 10 selling rate)
• The most active price range was for homes priced between $400k-$500K
. • Homes are selling on average at 2% below list price.
• Buyer’s Best Bet: Homes between $2.75M to $3M, Quilchena & minimum 4 bedroom properties
• Seller’s Best Bet: Selling Homes in Kitsilano, Point Grey, and up to 1 bedroom properties
In August this year condo and townhouse inventory decreased by 5% and for the second consecutive month, benchmark prices rose by 5%, while total sales dipped by 17%.
Thinking of buying or selling in Fairview, BC? Contact us to learn how we can help.