Which indicators should you watch in the Real Estate market?

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.,
Call Tom direct  778.879.8366

For a full Stats Package join our VIP list at:

http://ikonomousystems.com

or visit: bestvancouverlistings.com

Author: Ikonomou Systems

Tom is a degreed Vancouver Real Estate Sales professional with RE/MAX City Realty. Founder of The Ikonomou Systems© Tom has been defending homeowners equity since 2008 - Tom lives in Vancouver with his wife and has four adult children.

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