I did a market analysis for sales and listing activity for the middle of May and I have had a few emails that have expressed interest in seeing more of the market activity breakdowns.

I thought, just coming into summer where we should be at one of the busiest times of the year, it would be a good to do another analysis and compare it to the last one.

Typically when someone makes an offer and starts the buying process, there is about a two-week delay from offer to when the sale is recorded in the numbers. It usually takes two-weeks for the sale to become legally binding, subjects removed etc. This means the analysis lags behind by a couple weeks.

British Columbia’s real estate market remains a “buyer’s” market, with high inventory and subdued sales activity over the past seven days. The market recorded 722 new listings and 307 sales, yielding a new listings-to-sales ratio of 2.35:1. Total existing listings stand at 10,592, resulting in an existing listings-to-sales ratio of 34.5:1, indicating a slow market pace with significant buyer choice.

Price range breakdown

• Up to $250,000 (743 listings, 19 sales): This segment, with 7% of listings and 6% of sales, has a listings-to-sales ratio of 39.1:1. Low sales reflect limited demand. Likely due to affordability issues, there are many........

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