Absorption Rate In White Rock Real Estate

Absorption rate, or sales to listings ratio is not often talked about although it's very important. So important that after the US crash in 2009 the government told appraisers that this must be considered in property valuations.

It's pretty simple and it's the number of sales in a month and divided by number of listings. So the higher this number gets the quicker inventory is getting eaten up. 100% means everything is selling. In White Rock, anything over 20% is considered a pretty balanced market which also means 5 months of inventory if nothing else comes on the market.

In 2007 and 2011 when we saw a spike it was at 30%. This spring when the market was crazy it hit close to 60% or one and a half month of inventory! No wonder people were rushing to buy a house and bidding higher than the next guy. The impression was there was going to be nothing for sale next month!!

At the end of November we’re sitting at 20%. Yes, it’s a huge drop but we were also at a ridiculous levels.

  • $600,000 - Townhouse 17 15065 58 avenue, Surrey

    MLS® R2281190
    Ever imagine coming home and not starting your car again? This is your dream come true! The location [...]
    Listed by: Coldwell Banker Marquise Realty
  • $939,900 - House/Single Family 2190 152nd street, Surrey

    MLS® R2279085
    Very well maintained, renovated and remodeled rancher in the central South Surrey location. The owner [...]
    Listed by: Coldwell Banker Marquise Realty
  • $749,900 - Townhouse 58 7848 170 street, Surrey

    MLS® R2276982
    BRIGHT & BEAUTIFUL, this CORNER home sits by Surrey Golf Club and just steps to the upcoming LRT Line. [...]
    Listed by: Coldwell Banker Marquise Realty
        

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This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy.

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