East Vancouver Real Estate
Each and every month we post our neighbourhood statistics of east vancouver real estate and analysis of trends specific to the East Vancouver market. Check out our recent market update to see the most up-to-date statistics sent to you automatically each month. We really try to put what is commonly considered more of an art than a science, into a formatted newsletter that explains the feeling of the market, in addition to the sales statistics.
When we sat down to think about what statistics are most important in order to understand what the market is doing, we decided to look at month to month and year over year comparisons for that current month. This gives us a peek at the current year trend, as well as the trend of this year compared to the last. These comparisons also help us provides some context for comparing different marketsand accounts for seasonal fluctuations in the East Vancouver real estate market, in addition to giving us the current direction of the market. From there, we break down the specific product segments into both price brackets and number of bedrooms, to see which areas are seeing the most activity. To do this, we use a percentage called the “Absorption Rate”, which is simply the rate at which homes are selling, versus the active listings in the market. For our purposes, we use a monthly absorption rate, which compares the past 30 days of sales with the current active inventory. We typically view anything below 15% to be more of a Buyer’s market and anything over 25% to be more of a Seller’s market. Absorption rates between 15-25% indicate a more balanced real estate market.
We provide our analysis for detached, townhome and condo markets as well. Each one of these markets is unique and requires individual attention. Just because the condo market is strong doesn’t mean the detached market is as well, and vice versa. Taking a look at them separately also provides some interesting insight into buyer demographics and which segments of the East Van market are the most active. At the end of the day, it’s all about who’s buying when.
If you have any questions or would like to discuss, please don’t hesitate to contact us directly. We are always happy to chat.
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.
