for the Fraser Valley Real Estate Board (FVREB)
Above graph was compiled by using figures published by the FVREB
All property types (incl. assignments and lots)
Sales: 857
Active Listings: 10,348
Sales to Active Listings ratio: 8.3% or 12.1 MOI
New Listings: 2,544
Sales to New Listings ratio: 33.7%
The FVREB provides a breakdown for different property types
Houses (incl. mobiles)
Sales / Active Listings: 414/4,282....9.7% or 10.3 MOI
Townhouses
155/1,537 ...10.1% or 9.9 MOI
Condos
154/1,904 ... 8.1% or 12.4 MOI
Houses + Townhouses + Condos
723/7,723 ... 9.4% or 10.7 MOI
How the Sales to Active Listings Ratio (SALR) affects prices
According to Cameron Muir, BCREA Chief Economist, this is a good rule of thumb:
Home prices are typically pulled downward when the SALR is below 10% (or more than 10 MOI) and pushed upward when above 25% or less than 4 MOI.
Home prices tend to exhibit little upward or downward pressure when the SALR is between 15% and 20%. (6.7 to 5 MOI)
At this level a relative balance exists between supply and demand. Consideration should be given to the direction of the SALR.
A quick check of the SALR over the previous several months can help you understand if the market conditions are holding steady, deteriorating or improving
