If you own a property in Vancouver, then prepare for the possibility of the market turning in your favour in the very near future. That’s right; sellers will soon be buoyed up by a set of figures, watched closely by the real estate industry but by few others, which determines whether the market favours buyers or sellers.
The figures are known in the realtor trade as sales-to-active-listings ratio. It calculates how many luxury homes, townhouses, apartments and condos have been listed (put up for sale) and how many of those are flying off the shelf and being sold.
In a typical buyer market scenario, the sales-to-listings ratio is rather low, usually below 15 percent. Whereas in the market that favours sellers the same ratio shows figures in excess of 20 percent. In other words, one in five or more homes will sell straight away out of the ones listed. Moreover, in a sellers’ market the asking price is often the price you will get.