REW.ca<\/a> suggests there is one seller\u2019s market \u2014 and several just shy of that status \u2014 in the region.<\/p>\n\u201cIn the current slowing real estate market, it\u2019s easy to read the headlines and imagine that sales are plummeting all over the region and it\u2019s becoming a buyer\u2019s market. But that\u2019s not necessarily true of all areas \u2013 or all property types,\u201d reads an article from the Vancouver Courier, a sister website of REW.ca.<\/p>\n
Since peaking in May 2018 when the benchmark home price reached $1,104,600, the Greater Vancouver housing market, which covers a similar geographic area to Metro Vancouver, has undergone a correction.<\/p>\n
One year later, the benchmark price has tumbled 8.9 percent to $1,006,400, according to the Real Estate Board of Greater Vancouver.<\/p>\n
But the performance of the broader Vancouver market is the sum of developments in many neighbourhoods.<\/p>\n
So to take a deeper look into the market, REW.ca examined the sales-to-active listings ratios of 19 neighbourhoods in Metro Vancouver.<\/p>\n
The ratio of sales to actively listed homes is a general barometer of market balance.<\/p>\n
A ratio over 20 percent suggests a seller\u2019s market, while anywhere between 12 and 20 percent generally means balanced conditions and below 12 percent is a buyer\u2019s market.<\/p>\n
Clayton was the only sub-market to surpass the 20-percent threshold in May. There, the sales-to-active listing ratio was 22 percent.<\/p>\n
However, four neighbourhoods clocked in right at 20 percent: Central Meadows, Fraser East, Citadel and Mount Pleasant East.<\/p>\n
And another pair were only two percentage points shy of the market: Murrayville and Hastings. The other 12 sat in balanced territory at 17 percent.<\/p>\n
REW.ca also took into account that market conditions can vary by housing type. What\u2019s a seller\u2019s market for condos may not be one for townhouses, for example.<\/p>\n
With a ratio of 21 percent, Garibaldi Heights was the sole market that was in seller\u2019s territory for detached homes, though Aldergrove was just a percentage point shy of the designation.<\/p>\n
Meantime, sellers of townhomes had the upper hand in six markets, and condo sellers had an edge in five neighbourhoods.<\/p>\n
The infographic below shows REW.ca\u2019s complete findings:<\/p>\n
![\"\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/06\/rew-sar-infographic-final-map.png\")
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![\"\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/06\/vancouver-housing-market-2.jpg\")
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