Mid-month September data from the Real Estate Board of Greater Vancouver shows an anticipated surge in listings of homes for sale is being seen this month. This, combined with a drop in sales compared to previous months, points to a potential shift in the market to a buyer’s advantage, agents say.
At mid-month there have been 2,982 new listings, which is higher than the 2,331 new listings at mid-August and the 2,741 new listings at the mid-point of July. It’s also higher than September last year and above even the mid-point of busy September 2021, when 2,891 new listings had come out with much higher sales, at 1,477 transactions, REBGV’s data shows.
Also, the sales-to-listings ratio was just 29 per cent in mid-September compared to 51 per cent at the mid-point a month earlier, and an average of 55 per cent since January, the data shows.