With active listings for condos and apartments registered just over 1,900 homes, and September sales of 337 homes, Vancouver west’s had around 5.6 months inventory. At current level of supply and demand, the market is relatively balanced and stable. It may be expected that condo prices can be maintained at current level.
Current buyer activities are still strong, and showing activities are maintained at steady level. Although sales over the past few months were significantly lower than the previous year, both the average and median prices are holding steady at around the same levels the past 6 months.
Seasonally, the winter months are expected to post lower sales. Although some housing critics were predicting home prices to decline next year, this may not happen if current supply and demand that is in balance continue into 2011.