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"You can't stop the waves, but you can learn to surf." - Jon Kabat-Zinn

 

Attached are the Sales and Listings Stats updated to the end of February 2015. In Greater Vancouver, February once again saw an increase in the number of homes sold compared to the previous year, up 21% compared to February 2014 (3,108 homes sold compared to 2,570). Total homes sold in Greater Vancouver in February was the second highest since 2005. Week by week through February, the last week saw the highest amount of sales showing the market was accelerating as the month drew to a close. Total new listings coming on market in February were 5,566 compared to 4,860 in February 2014 – up 15%. But as much as the last week of the month was the strongest for sales, it was also the weakest for new listings coming on market. As a result, Total Active Listings at month end were 12,753 compared to 14,439 in February 2014 – down 12%. The home price index for Greater Vancouver is up 7% year over year. With interest rates continuing to be at all-time lows, a lower loonie, and strengthening migration to B.C. within Canada (especially from Alberta), and continued international migration should see the real estate market to remain strong in the coming months. With a stronger economic outlook due to a diversified economy and strengthening trading partners, the Conference Board of Canada has declared B.C. to be the Number One province in Canada this year in economic growth. And of course our glorious weather doesn’t hurt either in attracting people to our province! So while the buds have sprung early here, so has Greater Vancouver’s real estate market!

 

 

February 2015 Sales and Listings Stats All Regional

 

February 2015 Sales and Listings Stats Houses Townhouses and Condos

 

 

Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in February 2015 was 3,108 – up from 2, 570 (21%) in February 2014, up from 1, 822 (71%) in February 2013; Active Listings are at 12,753 compared to 14,439 at this time last year; New Listings in February 2015 were up 15% compared to February 2014; Month’s Supply of Total Residential Listings has dropped to 4 Months (Shifted to Seller’s Market) and a Sales to Listings Ratio of 56% compared to 53% in February 2014.

 

Vancouver Westside Residential: Total Units Sold in February 2015 was 631 – up from 545 (16%) in February 2014, up from 395 (60%) in February 2013; Active Listings are at 2,363 compared to 2,611 at this time last year; New Listings in February 2015 were up 27% compared to February 2014; Month’s Supply of Total Residential Listings has dropped to 4 Months (Seller’s Market) and a Sales to Listings Ratio of 50% compared to 55% in February 2014.

 

Vancouver Eastside Residential: Total Units Sold in February 2015 was 325 – up from 313 (4%) in February 2014, up from 167 (95%) in February 2013; Active Listings are at 915 compared to 1,039 at this time last year; New Listings in February 2015 were up 1% compared to February 2014; Month’s Supply of Total Residential Listings has dropped to 3 Months (Strong Seller’s Market) and a Sales to Listings Ratio of 62% compared to 61% in February 2014.

 

North Vancouver Residential: Total Units Sold in February 2015 was 273 – up from 206 (33%) in February 2014, up from 156 (75%) in February 2013; Active Listings are at 779 compared to 868 at this time last year; New Listings in February 2015 were up 18% compared to February 2014; Month’s Supply of Total Residential Listings has dropped to 3 Months (Strong Seller’s Market) and a Sales to Listings Ratio of 56% compared to 49% in February 2014.

 

West Vancouver Houses: Total Units Sold in February 2015 was 146 – up from 87 (68%) in February 2014, up from 46 (217%) in February 2013; Active Listings are at 618 compared to 615 at this time last year; New Listings in February 2015 were up 58% compared to February 2014; Month’s Supply of Total Residential Listings has dropped to 4 from 9 Months (Seller’s Market) and a Sales to Listings Ratio of 49% compared to 46% in February 2014.

 

Richmond Residential: Total Units Sold in February 2015 was 399 – up from 341 (17%) in February 2014, up from 221 (54%) in February 2013; Active Listings are at 1,890 compared to 2,000 at this time last year; New Listings in February 2015 were up 10% compared to February 2014; Month’s Supply of Total Residential Listings has dropped to 5 (Balanced Market) and a Sales to Listings Ratio of 54% compared to 51% in February 2014.

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