Whats Local Real Estate Going to Do?
It's that time again Abbotsford and Mission, so buckle up and hang on. We are about to visit the future with our time travel report. Our crystal ball uses the chart below to predict what might happen. If you are hoping for prices to rise look for our RED indicator in the report below.
I have put this report together with the help of Homelife Glenayre Realty. The chart shows the number of sales versus the number of listings and we publish it every month. If you wish to subscribe contact me for more info or simply follow my month newsletter: The Insider.
The percentage of monthly sales against the total inventory of listings on the market is the best way we know of to track trends. It is important to note that one month's percentage does not indicate price changes, however, if over many months a trend develops, prices may change.
- Above 23% indicates a Seller’s Market generally.
- Below 22% indicates a Stable or Buyer’s Market generally.
I have displayed the Seller’s Market in red in the chart below for every January in the past 6 years that hits the 'price changing' indicator. Traditionally December, January and February are the lowest percentages and will most commonly indicate buyer’s market.
This blog is written and supported with the help of: www.PriscillaSellsBC.com & Homelife Glenayre Realty - Mission
1 - 32540 Logan Ave Mission BC V2V 6G3
604-202-2330 or Office 604-826-2699
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