December 2021 – Lower Mainland Monthly Update (REBGV & FVREB)
Record breaking Year will set New standards for 2022
The most reliable indicator of market prices is the Sales to Active Listings Ratio (SAL). This is the ratio between the number of sales in a given month and the number of active listings at month-end.
In hotter markets in BC, a long-term analysis has shown that prices will usually act in the following ways:
- 7+ Months of Inventory (Under 14% SAL): Prices will likely DECLINE
- 5 – 7 Months of Inventory (14% – 18% SAL): Prices will likely be STABLE
- Less than 5.5 Months of Inventory (Over 18% SAL): Prices will likely RISE
Visit this link to learn more about house prices and inventory.
Sales
Sales have officially broken all records in Greater Vancouver. Sales in November (5,400) surpassed the previous high in 2015 (5,290).
Cumulative Year-to-date Sales
Sales to the end of November (67,256) have already surpassed the previous full-year high in 2016 (64,055)
Inventory
Standing Inventory (10,192) is the lowest on record. The previous low (10,275) was in December 2016
Sales to Active Listings
Sales to Active Listings of 53% indicates prices should continue to rise
Months of Inventory
Months of inventory has not been above 3 months for all of 2021. That has never happened before.
