Average sales or list prices will tell you where the market is currently at but to determine where the market is going you need to watch a few other numbers.
As an example from the Monthly Report for February 2021 of all detached homes in Greater Vancouver. The following indicators (numbers give you a greater picture of the direction home prices will be in the near future.
# Active Listings = 3,507
# Listings Sold = 1,248
Median List Price = $1,599,000
Median Sale Price = $1,650,000
Av Days on Market = 32
List/Sale Price Ratio = 103%
# Months of Inventory = 2.8
Market Type (sellers) = 35.6%
To see how these numbers affect your homes value.,
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