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Here’s where there are still hot housing markets in the Vancouver area



It’s not all doom and gloom for the Metro Vancouver housing market.


A new study from REW.ca suggests there is one seller’s market — and several just shy of that status — in the region.


“In the current slowing real estate market, it’s easy to read the headlines and imagine that sales are plummeting all over the region and it’s becoming a buyer’s market. But that’s not necessarily true of all areas – or all property types,” reads an article from the Vancouver Courier, a sister website of REW.ca.


Since peaking in May 2018 when the benchmark home price reached $1,104,600, the Greater Vancouver housing market, which covers a similar geographic area to Metro Vancouver, has undergone a correction.


One year later, the benchmark price has tumbled 8.9 percent to $1,006,400, according to the Real Estate Board of Greater Vancouver.


But the performance of the broader Vancouver market is the sum of developments in many neighbourhoods.


So to take a deeper look into the market, REW.ca examined the sales-to-active listings ratios of 19 neighbourhoods in Metro Vancouver.


The ratio of sales to actively listed homes is a general barometer of market balance.


A ratio over 20 percent suggests a seller’s market, while anywhere between 12 and 20 percent generally means balanced conditions and below 12 percent is a buyer’s market.


Clayton was the only sub-market to surpass the 20-percent threshold in May. There, the sales-to-active listing ratio was 22 percent.


However, four neighbourhoods clocked in right at 20 percent: Central Meadows, Fraser East, Citadel and Mount Pleasant East.


And another pair were only two percentage points shy of the market: Murrayville and Hastings. The other 12 sat in balanced territory at 17 percent.


REW.ca also took into account that market conditions can vary by housing type. What’s a seller’s market for condos may not be one for townhouses, for example.


With a ratio of 21 percent, Garibaldi Heights was the sole market that was in seller’s territory for detached homes, though Aldergrove was just a percentage point shy of the designation.


Meantime, sellers of townhomes had the upper hand in six markets, and condo sellers had an edge in five neighbourhoods.





---Josh Sherman,LIVABL

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