Before investing in real estate, you need to have a deep understanding of what is happening in the current market. This includes considering inventory trends, average days on market, and sales activity. Consider the following reports to help you make an informed decision, or at least identify questions you would like answers to.
How The Reports Help You
These reports help you identify what part of the real estate cycle a geographic region may be in and what trends corroborate that. Use these to help better understand the region you are looking to invest in and to line that up with your investment strategy for that particular part of the real estate cycle. These reports eliminate some of the guesswork and allow you to measure current listings against market averages.
How to Read the Reports
First, select the region you would like to view market data for from the right hand column. Each report shows property types segmented into three categories: detached homes, apartments and townhouses, illustrated by the corresponding colours in the legend on the top.
The X axis indicates the year and is consistent across all reports.
The Y access changes in each report to show what is being measured, Total Sales, Total Inventory, New Listings, Days on Market, Sales by Property Type and Median Sale Price.
Using this tool, you can compare the median sale price increase for Apartments in Richmond from 2019-2020 to North Vancouver in the same time period.