Adlaw Appraisals WEEKLY sales to listing ratio update (August 12, 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 & GVA Detached (Single Family)
| Fraser Valley Area | Property Type | Sales (last 30 days) | Total Active Listings | 12-Aug-2022 |
| Abbotsford | Single Family | 24 | 459 | 5.23% |
| Cloverdale | Single Family | 18 | 168 | 10.71% |
| Langley | Single Family | 40 | 554 | 7.22% |
| Mission | Single Family | 9 | 339 | 2.65% |
| N. Delta | Single Family | 13 | 137 | 9.49% |
| North Surrey | Single Family | 14 | 309 | 4.53% |
| South Surrey / White Rock | Single Family | 23 | 463 | 4.97% |
| Surrey | Single Family | 24 | 524 | 4.58% |
| TOTAL | 165 | 2953 | 5.59% | |
| GVA Area | Property Type | Sales (last 30 days) | Total Active Listings | 12-Aug-2022 |
| Burnaby East | Single Family | 3 | 25 | 12.00% |
| Burnaby North | Single Family | 13 | 122 | 10.66% |
| Burnaby South | Single Family | 4 | 25 | 16.00% |
| Coquitlam | Single Family | 27 | 236 | 11.44% |
| Ladner | Single Family | 9 | 82 | 10.98% |
| Maple Ridge | Single Family | 45 | 389 | 11.57% |
| New Westminster | Single Family | 7 | 85 | 8.24% |
| North Vancouver | Single Family | 28 | 218 | 12.84% |
| Port Coquitlam | Single Family | 15 | 82 | 18.29% |
| Port Moody | Single Family | 6 | 61 | 9.84% |
| Richmond | Single Family | 35 | 504 | 6.94% |
| Squamish | Single Family | 5 | 109 | 4.59% |
| Sunshine Coast | Single Family | 11 | 269 | 4.09% |
| Tsawwassen | Single Family | 8 | 110 | 7.27% |
| Vancouver East | Single Family | 35 | 529 | 6.62% |
| Vancouver West | Single Family | 25 | 664 | 3.77% |
| West Vancouver | Single Family | 17 | 419 | 4.06% |
| TOTAL | 293 | 3929 | 7.46% |
Okanagan and North Okanagan Detached (Single Family)
| Okanagan Area | Property Type | Sales (last 30 days) | Total Active Listings | 12-Aug-2022 |
| Rutland (North and South) | Single Family | 17 | 147 | 11.56% |
| Upper Mission | Single Family | 11 | 49 | 22.45% |
| Lower Mission | Single Family | 13 | 76 | 17.11% |
| Kelowna North | Single Family | 3 | 65 | 4.62% |
| Kelowna South | Single Family | 6 | 87 | 6.90% |
| Glenmore | Single Family | 12 | 61 | 19.67% |
| Dilworth Mountain | Single Family | |||
| University District | Single Family | |||
| Lake Country (NW, SW, East/Oyama) | Single Family | 17 | 146 | 11.64% |
| Lake View Heights | Single Family | 10 | 105 | 9.52% |
| McKinley Landing | Single Family | 1 | 16 | 6.25% |
| Springfield /Spall | Single Family | 8 | 22 | 36.36% |
| West Kelowna Estates | Single Family | 7 | 46 | 15.22% |
| Westside Road | Single Family | 0 | 12 | 0.00% |
| TOTAL | 105 | 832 | 12.62% | |
| North Okanagan Area | Property Type | Sales (last 30 days) | Total Active Listings | 12-Aug-2022 |
| Alexis Park | Single Family | 0 | 1 | 0.00% |
| Bella Vista | Single Family | 14 | 23 | 60.87% |
| Mun of Coldstream + | Single Family | 8 | 62 | 12.90% |
| MMC Middleton Mountain Coldstream | Single Family | 6 | 7 | 85.71% |
| East Hill | Single Family | 16 | 29 | 55.17% |
| Foothills | Single Family | 1 | 17 | 5.88% |
| Harwood | Single Family | 2 | 9 | 22.22% |
| Mission Hill | Single Family | 6 | 10 | 60.00% |
| MMV Middleton Mountain Vernon | Single Family | 3 | 6 | 50.00% |
| North BX | Single Family | 6 | 39 | 15.38% |
| Okanagan Landing | Single Family | 6 | 23 | 26.09% |
| City of Vernon | Single Family | 2 | 22 | 9.09% |
| TOTAL | 70 | 248 | 28.23% |
Fraser Valley and GVA Attached (Townhomes and Apartments)
| Fraser Valley Area | Property Type | Sales (last 30 days) | Total Active Listings | 12-Aug-2022 |
| Abbotsford | Townhouse / Apt | 40 | 437 | 9.15% |
| Cloverdale | Townhouse / Apt | 35 | 172 | 20.35% |
| Langley | Townhouse / Apt | 81 | 501 | 16.17% |
| Mission | Townhouse / Apt | 6 | 62 | 9.68% |
| N. Delta | Townhouse / Apt | 3 | 59 | 5.08% |
| North Surrey | Townhouse / Apt | 58 | 456 | 12.72% |
| South Surrey / White Rock | Townhouse / Apt | 70 | 394 | 17.77% |
| Surrey | Townhouse / Apt | 40 | 515 | 7.77% |
| TOTAL | 333 | 2596 | 12.83% | |
| GVA Area | Property Type | Sales (last 30 days) | Total Active Listings | 12-Aug-2022 |
| Burnaby East | Townhouse / Apt | 11 | 50 | 22.00% |
| Burnaby North | Townhouse / Apt | 68 | 338 | 20.12% |
| Burnaby South | Townhouse / Apt | 71 | 335 | 21.19% |
| Coquitlam | Townhouse / Apt | 69 | 342 | 20.18% |
| Ladner | Townhouse / Apt | 8 | 18 | 44.44% |
| Maple Ridge | Townhouse / Apt | 33 | 196 | 16.84% |
| New Westminster | Townhouse / Apt | 33 | 189 | 17.46% |
| North Vancouver | Townhouse / Apt | 70 | 309 | 22.65% |
| Port Coquitlam | Townhouse / Apt | 28 | 111 | 25.23% |
| Port Moody | Townhouse / Apt | 22 | 114 | 19.30% |
| Richmond | Townhouse / Apt | 94 | 766 | 12.27% |
| Squamish | Townhouse / Apt | 9 | 94 | 9.57% |
| Sunshine Coast | Townhouse / Apt | 8 | 38 | 21.05% |
| Tsawwassen | Townhouse / Apt | 10 | 53 | 18.87% |
| Vancouver East | Townhouse / Apt | 82 | 610 | 13.44% |
| Vancouver West | Townhouse / Apt | 199 | 1687 | 11.80% |
| West Vancouver | Townhouse / Apt | 9 | 122 | 7.38% |
| TOTAL | 824 | 5372 | 15.34% |
Okanagan and North Okanagan Attached (Townhomes and Apartments)
| Okanagan Area | Property Type | Sales (last 30 days) | Total Active Listings | 12-Aug-2022 |
| Rutland (North and South) | Townhouse / Apt | 19 | 77 | 24.68% |
| Upper Mission | Townhouse / Apt | 0 | 2 | 0.00% |
| Lower Mission | Townhouse / Apt | 16 | 78 | 20.51% |
| Kelowna North | Townhouse / Apt | 21 | 123 | 17.07% |
| Kelowna South | Townhouse / Apt | 14 | 59 | 23.73% |
| Glenmore | Townhouse / Apt | 9 | 40 | 22.50% |
| Dilworth Mountain | Townhouse / Apt | |||
| University District | Townhouse / Apt | |||
| Lake Country (NW, SW, East/Oyama) | Townhouse / Apt | 6 | 33 | 18.18% |
| Lake View Heights | Townhouse / Apt | 3 | 14 | 21.43% |
| McKinley Landing | Townhouse / Apt | 0 | 11 | 0.00% |
| Springfield /Spall | Townhouse / Apt | 13 | 55 | 23.64% |
| West Kelowna Estates | Townhouse / Apt | 0 | 3 | 0.00% |
| Westside Road | Townhouse / Apt | 1 | 10 | 10.00% |
| TOTAL | 102 | 505 | 20.20% | |
| North Okanagan Area | Property Type | Sales (last 30 days) | Total Active Listings | 12-Aug-2022 |
| Alexis Park | Townhouse / Apt | 8 | 6 | 133.33% |
| Bella Vista | Townhouse / Apt | 4 | 4 | 100.00% |
| Mun. of Coldstream | Townhouse / Apt | 4 | 2 | 200.00% |
| MMC Middleton Mountain Coldstream | Townhouse / Apt | 0 | 0 | 0.00% |
| East Hill | Townhouse / Apt | 1 | 3 | 33.33% |
| Foothills | Townhouse / Apt | 0 | 0 | 0.00% |
| Harwood | Townhouse / Apt | 5 | 12 | 41.67% |
| Mission Hill | Townhouse / Apt | 6 | 3 | 200.00% |
| MMV Middleton Mountain Vernon | Townhouse / Apt | 1 | 8 | 12.50% |
| North BX | Townhouse / Apt | 0 | 0 | 0.00% |
| Okanagan Landing | Townhouse / Apt | 4 | 23 | 17.39% |
| City of Vernon | Townhouse / Apt | 11 | 31 | 35.48% |
| TOTAL | 44 | 92 | 47.83% |
*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:
The Fraser Valley has an average sales to listing ration of 5.59% pushing downward pressure on prices. Areas hit hardest are Abbotsford, Mission and Surrey. GVA is doing slightly better at 7.46% which is still very much a buyer’s market. The hardest hit areas are Squamish, Sunshine Coast, West Vancouver and Vancouver West indicating continued downward pressure on prices. Areas doing well, include North Vancouver and Port Coquitlam.
The Okanagan is a smaller market and weekly ratios can change abruptly. The areas with the most data include Rutland (11.56%) and Lake Country (11.64%) which is a buyer’s market. Similarly, the North Okanagan has insufficient data to make any solid conclusions.
Townhouse / Apartments:
These property types are doing much better than single family at the moment. The Fraser Valley has an average ratio of 12.83% with North Delta , Abbotsford and Surrey showing low numbers. Cloverdale, Langley and South Surrey White Rock are all showing a balanced market. The GVA is showing an average ratio of 15.34 which is considered relatively balanced, but still in the buyer’s favour. Strong micro markets include: Ladner and Port Coquitlam. Areas suffering with excess inventory and low sales include: Squamish and West Vancouver. Vancouver West has the highest number of recent sales at 199 and showing a buyer’s market still at 11.80%.
The data in the Okanagan Region is insufficient to draw any concrete conclusions, although the townhouse and apartment markets seem relatively healthy with an average ratio of 20.2%.
In summary, there are few markets where seller’s have any control. With so many subject free offers being made in the beginning on 2022, those individuals need to sell to close on their new home. If sellers are motivated, prices will continue to fall for detached housing as there is currently an excess supply of active listings flooding most areas of Fraser Valley and the GVA. Townhouses and apartments in the Fraser Valley should see some areas continue to fall; whereas the GVA is holding steady with many of their ratios in the 15-25% range.
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