The Months of Inventory (MOI) metric for all Westside Vancouver home types rose in December. The Detached MOI rocketed to 9 months, Attached increased to 6.74 and Apartments to 5.02. I was anticipating a drop in the MOI as many listings were pulled from the market for the holidays. This has not been the case.
Although fewer new listings came to the market and many fell off the market, tho ...
The Months of Inventory (MOI) metric for all Westside Vancouver home types fell in November. The Detached MOI now sits at 5.83, Attached at 5.9 and Apartments at 4.74. Average monthly sale prices fell marginally again for Attached homes and Apartments but remained flat for Detached homes in November.
Fewer new listings are the predominant reason for the drop in MOI. This seasonal trend w ...
Last month the Months of Inventory (MOI) for detached homes on the Westside of Vancouver jumped from 4.95 months in August to 7.91 for the month of September. October's Detached MOI has now dropped to 6.89 allaying fears that the market was about to see a steep fall. Months of Inventory also fell for Apartments from 6.21 to 5.7 but Attached homes saw the metric rise from 5.69 to 6.4. Avera ...
“Months of Inventory” (MOI) is a measure derived from the number of active listings during a given month divided by the number of sales that month. It indicates the theoretical length of time it would take to sell all of the properties on the market if nothing changed. Historically, 0-5 months of inventory has generally implied upward price pressure for the ensuing six months, 5-8 months of i ...
The big question I've been getting lately has been what effect will the rescission of the HST have on the price of new condos in the Vancouver real estate market. I'm no economist but my take is that, in theory, it should have no effect. The change in tax should have no effect on new construction pricing because real estate is a very price elastic commodity and buyers will only pay what the ...
The months of inventory index for Westside apartments upwardly breached 4 Months of Inventory (MOV). This resulted from both fewer sales and more new listings coming on to the market. The attached MOV reached 3.9 and detached homes sit at 2.63. The month of May gave us a chance to breathe as ultra low inventories in the detached market eased with more homes being listed. May marks the fif ...
How quickly the tides have turned from the middle of 2010. In spring of 2010 the Months of Inventory metric trended up to about 6 months of inventory. Now the months of inventory index for Westside detached homes, after falling four consecutive months in a row, remaines at under 3 months of inventory as of December 31st. The average sale price of a detached house on the Westside remained o ...
You can't argue with the numbers (much as I would like to). The months of inventory index for Westside detached homes has fallen four consecutive months in a row; in November to under 3 months. The average sale price of a detached house on the Westside remained over $2 million dollars in November. If months of inventory stay like this, we can expect these strong sales prices to continue fo ...
“We’ve seen a lot more consistency and less volatility in recent months when it comes to both number of sales and pricing, although it’s important to remember that conditions often vary between communities and neighbourhoods,” - Jake Moldowan, Real Estate Board of Greater Vancouver (REBGV) president.