There has been little change in the March 2020 Whistler real estate news compared to last month. Please watch my Whistler Market update video below for an explanation in under 99 seconds.
Real estate prices are determined by supply and demand. By comparing the number of listings for sale against the number of sales in a given month, we arrive at the sales to active listings ratio. This ratio determines whether the Whistler market is in a seller’s market, a balanced market, or a buyer’s market.
Buyer’s Market for Detached Houses in March 2020
Analysts say that downward pressure on home prices occurs when the ratio dips below 12% for a sustained period. The sales to active listings ratio for detached houses was 7% in February 2020. Therefore in this segment we have been in a buyer’s market for a sustained period. In theory, the longer the house is listed, the more the price needs to be reduced to sell.
Market Update page has more March 2020 Real estate statistics, charts and graphs also provided by the Real Estate Board of Greater Vancouver.
Marion Anderson, PREC*
*Personal Real Estate Corporation
Sutton Group – West Coast Realty
203-1080 Millar Creek Road, Whistler, BC, V8E 0S7 CANADA