Adlaw Appraisals WEEKLY sales to listing ratio update (August 26, 2012)
Looking at 50 different market areas, for both single family and multi family (townhomes and apartments) in the GVA, Fraser Valley and Okanagan regions.
What is a sales to listing ratio? The ratio between the number of homes sold in the last 30 days versus the number of total listings in the market.
Why is it important? It is a point in time indicator of demand and supply of housing in a specific area and provides excellent information for buyer’s, seller’s, realtors and valuation experts who cannot afford to wait 3-4 weeks until monthly stats are available. Generally speaking, a downward market (buyer’s market) is when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure (seller’s market) when it surpasses 20 per cent over several months.
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Fraser Valley, Greater Vancouver and Central Okanagan (Single Family)
| Fraser Valley Area | Property Type | Sales (last 30 days) | Total Active Listings | 12-Aug-2022 | 19-Aug-2022 | 26-Aug-2022 |
| Chilliwack | Single Family | 15 | 297 | 3.31% | 5.05% | |
| Abbotsford | Single Family | 38 | 442 | 5.23% | 7.24% | 8.60% |
| Cloverdale | Single Family | 23 | 150 | 10.71% | 16.56% | 15.33% |
| Langley | Single Family | 56 | 532 | 7.22% | 7.84% | 10.53% |
| Mission | Single Family | 11 | 340 | 2.65% | 2.96% | 3.24% |
| N. Delta | Single Family | 15 | 123 | 9.49% | 6.77% | 12.20% |
| North Surrey | Single Family | 14 | 304 | 4.53% | 5.54% | 4.61% |
| South Surrey / White Rock | Single Family | 30 | 448 | 4.97% | 4.57% | 6.70% |
| Surrey | Single Family | 30 | 521 | 4.58% | 5.71% | 5.76% |
| TOTAL | 217 | 2860 | 5.59% | 6.45% | 7.59% | |
| GVA Area | Property Type | Sales (last 30 days) | Total Active Listings | 12-Aug-2022 | 19-Aug-2022 | 26-Aug-2022 |
| Burnaby East | Single Family | 5 | 24 | 12.00% | 11.54% | 20.83% |
| Burnaby North | Single Family | 14 | 112 | 10.66% | 13.39% | 12.50% |
| Burnaby South | Single Family | 15 | 103 | 16.00% | 8.26% | 14.56% |
| Coquitlam | Single Family | 35 | 228 | 11.44% | 13.92% | 15.35% |
| Ladner | Single Family | 9 | 79 | 10.98% | 9.64% | 11.39% |
| Maple Ridge | Single Family | 38 | 382 | 11.57% | 10.08% | 9.95% |
| New Westminster | Single Family | 7 | 84 | 8.24% | 5.95% | 8.33% |
| North Vancouver | Single Family | 21 | 216 | 12.84% | 13.62% | 9.72% |
| Port Coquitlam | Single Family | 20 | 79 | 18.29% | 28.17% | 25.32% |
| Port Moody | Single Family | 5 | 59 | 9.84% | 8.33% | 8.47% |
| Richmond | Single Family | 21 | 494 | 6.94% | 6.45% | 4.25% |
| Squamish | Single Family | 6 | 104 | 4.59% | 4.76% | 5.77% |
| Sunshine Coast | Single Family | 15 | 272 | 4.09% | 3.31% | 5.51% |
| Tsawwassen | Single Family | 4 | 111 | 7.27% | 2.73% | 3.60% |
| Vancouver East | Single Family | 37 | 512 | 6.62% | 9.16% | 7.23% |
| Vancouver West | Single Family | 35 | 669 | 3.77% | 4.14% | 5.23% |
| West Vancouver | Single Family | 18 | 411 | 4.06% | 3.60% | 4.38% |
| TOTAL | 305 | 3939 | 7.46% | 7.68% | 7.74% | |
| Okanagan Area | Property Type | Sales (last 30 days) | Total Active Listings | 12-Aug-2022 | 19-Aug-2022 | 26-Aug-2022 |
| Rutland (North and South) | Single Family | 19 | 152 | 11.56% | 12.00% | 12.50% |
| Upper Mission | Single Family | 12 | 47 | 22.45% | 19.61% | 25.53% |
| Lower Mission | Single Family | 16 | 77 | 17.11% | 16.46% | 20.78% |
| Kelowna North | Single Family | 3 | 58 | 4.62% | 6.67% | 5.17% |
| Kelowna South | Single Family | 11 | 80 | 6.90% | 10.98% | 13.75% |
| Glenmore | Single Family | 8 | 57 | 19.67% | 17.24% | 14.04% |
| Dilworth Mountain | Single Family | 5 | 17 | 35.29% | 29.41% | |
| University District | Single Family | 1 | 11 | 8.33% | 9.09% | |
| Lake Country (NW, SW, East/Oyama) | Single Family | 15 | 148 | 11.64% | 11.11% | 10.14% |
| Lake View Heights | Single Family | 15 | 103 | 9.52% | 14.29% | 14.56% |
| McKinley Landing | Single Family | 1 | 17 | 6.25% | 5.88% | 5.88% |
| Springfield /Spall | Single Family | 5 | 25 | 36.36% | 29.17% | 20.00% |
| West Kelowna Estates | Single Family | 7 | 46 | 15.22% | 12.50% | 15.22% |
| Westside Road | Single Family | 0 | 11 | 0.00% | 0.00% | 0.00% |
| TOTAL | 118 | 849 | 12.62% | 13.51% | 13.90% | |
Fraser Valley, Greater Vancouver and Central Okanagan (Townhomes and Apartments)
| Fraser Valley Area | Property Type | Sales (last 30 days) | Total Active Listings | 12-Aug-2022 | 19-Aug-2022 |
| Chilliwack | Townhouse / Apt | 14 | 203 | 7.25% | |
| Abbotsford | Townhouse / Apt | 42 | 428 | 9.15% | 9.95% |
| Cloverdale | Townhouse / Apt | 26 | 164 | 20.35% | 19.05% |
| Langley | Townhouse / Apt | 76 | 486 | 16.17% | 15.34% |
| Mission | Townhouse / Apt | 5 | 62 | 9.68% | 10.94% |
| N. Delta | Townhouse / Apt | 10 | 53 | 5.08% | 16.67% |
| North Surrey | Townhouse / Apt | 60 | 421 | 12.72% | 14.68% |
| South Surrey / White Rock | Townhouse / Apt | 65 | 370 | 17.77% | 18.42% |
| Surrey | Townhouse / Apt | 59 | 493 | 7.77% | 10.40% |
| TOTAL | 343 | 2477 | 12.83% | 13.94% | |
| GVA Area | Property Type | Sales (last 30 days) | Total Active Listings | 12-Aug-2022 | 19-Aug-2022 |
| Burnaby East | Townhouse / Apt | 7 | 51 | 22.00% | 22.45% |
| Burnaby North | Townhouse / Apt | 57 | 333 | 20.12% | 19.03% |
| Burnaby South | Townhouse / Apt | 52 | 324 | 21.19% | 19.16% |
| Coquitlam | Townhouse / Apt | 64 | 349 | 20.18% | 18.18% |
| Ladner | Townhouse / Apt | 2 | 23 | 44.44% | 30.43% |
| Maple Ridge | Townhouse / Apt | 28 | 194 | 16.84% | 15.74% |
| New Westminster | Townhouse / Apt | 38 | 186 | 17.46% | 21.81% |
| North Vancouver | Townhouse / Apt | 58 | 295 | 22.65% | 19.74% |
| Port Coquitlam | Townhouse / Apt | 33 | 91 | 25.23% | 25.96% |
| Port Moody | Townhouse / Apt | 20 | 117 | 19.30% | 16.38% |
| Richmond | Townhouse / Apt | 106 | 733 | 12.27% | 13.61% |
| Squamish | Townhouse / Apt | 10 | 88 | 9.57% | 7.45% |
| Sunshine Coast | Townhouse / Apt | 3 | 42 | 21.05% | 20.51% |
| Tsawwassen | Townhouse / Apt | 11 | 53 | 18.87% | 17.86% |
| Vancouver East | Townhouse / Apt | 89 | 581 | 13.44% | 14.46% |
| Vancouver West | Townhouse / Apt | 214 | 1595 | 11.80% | 12.94% |
| West Vancouver | Townhouse / Apt | 15 | 114 | 7.38% | 10.66% |
| TOTAL | 807 | 5169 | 15.34% | 15.58% | |
| Okanagan Area | Property Type | Sales (last 30 days) | Total Active Listings | 12-Aug-2022 | 19-Aug-2022 |
| Rutland (North and South) | Townhouse / Apt | 23 | 88 | 24.68% | 23.81% |
| Upper Mission | Townhouse / Apt | 0 | 3 | 0.00% | 0.00% |
| Lower Mission | Townhouse / Apt | 19 | 79 | 20.51% | 22.78% |
| Kelowna North | Townhouse / Apt | 23 | 146 | 17.07% | 11.11% |
| Kelowna South | Townhouse / Apt | 17 | 57 | 23.73% | 23.33% |
| Glenmore | Townhouse / Apt | 8 | 45 | 22.50% | 21.95% |
| Dilworth Mountain | Townhouse / Apt | 5 | 11 | 55.56% | |
| University District | Townhouse / Apt | 10 | 37 | 37.14% | |
| Lake Country (NW, SW, East/Oyama) | Townhouse / Apt | 5 | 42 | 18.18% | 12.50% |
| Lake View Heights | Townhouse / Apt | 5 | 16 | 21.43% | 28.57% |
| McKinley Landing | Townhouse / Apt | 1 | 10 | 0.00% | 10.00% |
| Springfield /Spall | Townhouse / Apt | 16 | 53 | 23.64% | 31.48% |
| West Kelowna Estates | Townhouse / Apt | 1 | 2 | 0.00% | 50.00% |
| Westside Road | Townhouse / Apt | 2 | 10 | 10.00% | 22.22% |
| TOTAL | 135 | 599 | 20.20% | 21.77% | |
*Statistics based on sales from July 12 to August 12, 2022 and active listings as of August 12, 2022.
Where are Prices Going?
Single Family:
Listings continue to outpace sales for another month, putting downward pressure on prices in the Fraser Valley And the GVA. The Okanagan area is seeing a more balanced market with some areas, like Upper Mission, showing continued strong sales last month compared to the supply of houses for sale. The Fraser Valley is showing a 7.59% ratio which suggests a buyer’s market still and the Greater Vancouver Area is showing similar averages at 7.74% with the only market showing positives being Burnaby East and Port Coquitlam. The Okanagan showing a slightly more balanced picture at 13.90%. Keep in mind a balanced market is between 12% and 20%.
Townhouse / Apartments:
Multi Family units are fairing much better across the board with many areas showing a balanced market. The only areas of the Fraser Valley and GVA showing a seller’s market in the multi family space is Burnaby East, Ladner, New Westminster, Port Coquitlam and Sunshine Coast. The Okanagan multi family market is doing well, with most regions showing strong sales #’s compared to the supply of homes for sale.
In summary, single family is hurting across the board and there will be lots of buying opportunities for those who have cash, and have a strong negotiating position. Any areas under 5% are areas one would want to make low-ball offers and find a good deal. Sales of single family in the more expensive neighbourhoods are way down and there seems to be some buying happening in the cheaper areas as well as areas of the Okanagan.
Let our team’s knowledge of local markets help you get the value you deserve.
Thank you for reading!
Adam Lawrenson, AACI
Owner, Adlaw Appraisals