Scotts Local Real Estate Blog for Sept 24, 2016
Here is an interesting look at the real estate market. Perhaps my favourite statistic is whats called the "sell through rate". Many consider it to be the single best critria in determining the health of the market. It tells us the percentage of the total inventory that actually sells, on a month to month basis.
As you can see, we cant believe the hype coming from the news media. Firstly, Vancouver has dropped into the 25% area, which is a healthy "Balanced Market" ..... but look at the Chilliwack market! There was a dip (from the insane rate of 70%) down to 50%, which is still well into the "Sellers Market" area.
The Bottom Line ..... Inventory is really low, and there has been a slight waver on prices, but they are still holding!
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Scott McVetty
Scott McVetty