This from North Van Dude at greaterfool.ca 18 Jan 2010 5:29 pm -
“In my search for a new home to rent in North Vancouver, I am coming across many properties for rent that are also for sale. In fact most of the ones I looked at are for rent and for sale. Is this unusual? What is almost amusing is the price/rent ratio. I am looking at one house tonight with a p/r ratio of 1:593. No house is less than 1:400.”
hmm. vista place, recent MLS sale 5th floor 800 sqft, lets say $1200 a month for rent (its likely higher, older homes this size are going for more, also saw a 2 bed on craigslist going for $1850). This is a 5th floor unit, which sold for $465,000.
1:387 ratio? Active listings at times have very little meaning, some realtors are idiots.
Condos & apartments tend to have price/rent ratios that are lower than detached houses, but even figures in the 300′s are historically very high.