by Macrealty Marketing Team | Nov 2, 2023 | Market Updates
November 2023 – Lower Mainland Monthly Update
At 6.1 Months of Inventory, Prices are expected to Remain Flat.
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 (2,966) were 5% higher than a year ago (2,804), and were 30% below the 10-year average (4,082).
Cumulative Year-to-date Sales
2023 continues to be slower as sales (36,163) remain below the 10-year average (45,215).
Inventory
Inventory (18,179 active listings) increased slightly from the previous month, and are now above the 10-year average for the first time since Nov 2020 (19,041 average).
Sales to Active Listings
Low sales but modest inventory kept the Sales to Active Listing Ratio at 16%, indicating flat prices.
Months of Inventory
Similarly, Months of Inventory rose to 6.1 MOI, indicating a balanced market and flat prices.
Want to learn more about these stats or discuss your move to Macdonald Realty?
Check out careersinbcrealestate.com to connect today!
by Macrealty Marketing Team | Sep 27, 2016 | Other
We are delighted to announce the begin
ning of a new charitable partnership between Macdonald Real Estate Group and InspireHealth, a local not-for-profit supportive cancer care organization with centres in Vancouver, Victoria and Kelowna. They provide important programs and services to enhance quality of life, health and well-being of people living with cancer and their families.
Macdonald Real Estate Group has signed on to be the presenting sponsor of InspireHealth’s new cookbook ‘Inspired Cooking‘ featuring 50 exclusive recipes from 20 of Canada’s top chefs including BC’s Vikram Vij (Vij’s Restaurant Group), Ned Bell (Yew at Four Seasons Hotel), Warren Barr (The Pointe Restaurant at Wickaninnish Inn), James Walt (Araxi) and many more.
Last year, InspireHealth welcomed more than 2,400 new members, provided 2,000+ classes and more than 25,000 patient visits – all completely free of charge. This InspiredHealth cookbook is an important fundraising venture and we are so proud to be a leading sponsor of this project. Watch for the cookbook is stores this holiday season and if you wish to make a donation to the project you can visit their Kickstarter page here.
by Macrealty Marketing Team | Apr 13, 2016 | In The News
Jonathan Cooper, Vice President, Operations of Macdonald Real Estate Group, was on Business News Network (BNN) speaking about the pick-up in American home buyers in BC and how the loonie has been driving that interest.
Click the video to watch.
