Current Market Conditions

Welcome to the DEXTER ASSOCIATES REALTY STATISTICAL UPDATE PAGE. We want to ensure that our REALTORS® and our clients are well informed on current market conditions.

In our Blog below you will find a weekly market update. Within the Blog, there are 2 links updated weekly that separate and break down listing and sales statistics for market areas in and around the City of Vancouver. One link combines all residential types of properties for a select group of market areas and another link breaks down those areas by houses, townhouses and apartments.

If you have any questions at all, do not hesitate to contact one of our Dexter Associates!

 

Attached are the Sales and Listings Stats updated to February 23rd. While unit sales for February will be down from February 2012 and below the 10 year average, market conditions are improving. Strength is coming back into the market. We are seeing less inventory coming on market than would normally for this time of year. Sales to Listings Ratios (Absorption Rate) for all areas are improving, most notably on Vancouver’s West Side and Richmond – which were two markets seeing the most significant market adjustment. Market conditions continue to balance with those Sellers at today’s prices getting the attention of Buyers.

Sales and Listings Stats Regional

Sales and Listings Stats Houses, Townhouses, Condos

 

Summary of February 2013 so far:

  

Greater Vancouver All Residential: Total Units Sold in so far in February is 1,425, should finish at 1,900 – up from 1,374 in January 2013, 4,119 New Listings so far in February, with Sales to Listings Ratio (Absorption Rate) last week at 42% compared to the first 2 weeks of the month at 32%.

 

Vancouver Westside All Residential: Total Units Sold in so far in February is 313, should finish at 420 – up from 314 in January 2013, 884 New Listings so far in February, with Sales to Listings Ratio (Absorption Rate) last week at 46% compared to the first 2 weeks of the month at 31%.

 

Vancouver Eastside All Residential: Total Units Sold in so far in February is 140, should finish at 190 – up from 140 in January 2013, 357 New Listings so far in February, with Sales to Listings Ratio (Absorption Rate) last week at 39% on track with the first 2 weeks of the month at 31%.

 

North Vancouver All Residential: Total Units Sold in so far in February is 125, should finish at 170 – up from 106 in January 2013, 305 New Listings so far in February, with Sales to Listings Ratio (Absorption Rate) last week at 43% compared to the first 2 weeks of the month at 40%.

 

West Vancouver All Residential: Total Units Sold in so far in February is 36, should finish at 50 – up from 47 in January 2013, 192 New Listings so far in February, with Sales to Listings Ratio (Absorption Rate) last week at 23% compared to the first 2 weeks of the month at 17%.

 

Richmond All Residential: Total Units Sold in so far in February is 163, should finish at 210 – up from 165 in January 2013, 533 New Listings so far in February, with Sales to Listings Ratio (Absorption Rate) last week at 51% compared to the first 2 weeks of the month at 23%.

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Life has no limitations, except the ones you make." - Les Brown

 

Sales and listings stats are attached as of February 16th. We’re half way through the month with better activity for the month so far. New listings coming on the market continue at a tepid pace, making pricing still extremely important for sellers. Last week did see a positive gain in activity with Sales to Listings Ratios for the week at 40% after having tracked below 30% through the first 5 weeks of the year. Of note, average price for Vancouver’s Westside, specifically the Detached market showed significant gains due to the sale of two properties on Newton Wynd for significant prices.

Sales and Listings Stats Regional

Sales and Listings Stats Houses, Townhouses and Condos

 

Greater Vancouver - 922 Units Sold so far in February 2013, 1,374 Sold in January 2013, Sales to Listings Ratio currently at 32% compared to 26% in January 2013.

 

Vancouver West - 202 Units Sold so far in February 2013, 314 Sold in January 2013, Sales to Listings Ratio currently at 31% compared to 28% in January 2013.

 

Vancouver East - 94 Units Sold so far in February 2013, 140 Sold in January 2013, Sales to Listings Ratio currently at 39% compared to 31% in January 2013.

 

North Vancouver – 84 Units Sold so far in February 2013, 106 Sold in January 2013, Sales to Listings Ratio currently at 40% compared to 29% in January 2013.

 

West Vancouver – 23 Units Sold so far in February 2013, 47 Sold in January 2013, Sales to Listings Ratio currently at 17% compared to 23% in January 2013.

 

Richmond – 91 Units Sold so far in February 2013, 165 Sold in January 2013, Sales to Listings Ratio currently at 23% compared to 22% in January 2013.

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Attached are the Sales and Listings Stats Update as of February 10th. Activity in the market continues to increase with units sales on the rise, while listings are creeping up too. General activity and attitude in the market is better than we have seen of late with the focus continuing to be on pricing. 

Sales and Listings Stats Regional

Sales and Listings Stats Houses, Townhouses, Condos

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Change your thoughts and you change your world." - Norman Vincent Peale

 

Attached are the Sales and Listings Stats up to the end of January 2013. The New Year has started on better terms than how it finished. With unit sales in January 2013 up from December 2012 and the number of new listings coming on market slowing, the result was the Month’s Supply declining in all areas. Energy in the real estate market is returning and with it sales should continue to increase. While not at levels previously seen in the frenetic markets but creating more of a balance, one that will still favour buyers to a degree. With that pricing continues to be a determining factor on listings selling. Properties listed at today’s prices will speak to buyers more than what continues on market at yesterday’s prices. With interest rates continuing at low levels and better sentiment in the economy, a better positive feeling in the market will help to create a better atmosphere.

 Sales and Listings Stats Regional

Sales and Listings Stats Houses, Townhouses and Condos

 

Greater Vancouver: Total Units Sold in January 2013 was 1,374 – up from 1,171 in December 2012; New Listings in January 2013 were down 11% to January 2012; Month’s Supply of Total Residential Listings is down to 10 Months from 12 (Buyer’s Market).

Vancouver Westside Houses: Total Units Sold in January 2013 was 83 – up from 49 in December 2012; New Listings in January 2013 were down 31% to January 2012; Month’s Supply of Total Listings is down to 9 Months from 14 (Buyer’s Market).

Vancouver Westside Condos: Total Units Sold in January 2013 was 200 – up from 156 in December 2012; New Listings in January 2013 were down 12% to January 2012; Month’s Supply of Total Listings is down to 8 Months from 10 (Buyer’s Market).

 

Vancouver Eastside Houses: Total Units Sold in January 2013 was 56 – up from 54 in December 2012; New Listings in January 2013 were down 20% to January 2012; Month’s Supply of Total Listings is down to 8 Months from 9 (Buyer’s Market).

Vancouver Eastside Condos: Total Units Sold in January 2013 was 57 – up from 53 in December 2012; New Listings in January 2013 were up 10% to January 2012; Month’s Supply of Total Listings stayed at 8 (Buyer’s Market).

 

North Vancouver Houses: Total Units Sold in January 2013 was 52 – up from 32 in December 2012; New Listings in January 2013 were up 19% to January 2012; Month’s Supply of Total Listings is down to 6 Months from 9 (Balanced Market).

North Vancouver Condos: Total Units Sold in January 2013 was 38 – up from 34 in December 2012; New Listings in January 2013 were down 19% to January 2012; Month’s Supply of Total Listings stayed at 9 (Buyer’s Market).

 

West Vancouver Houses: Total Units Sold in January 2013 was 38 – up from 29 in December 2012; New Listings in January 2013 were down 16% to January 2012; Month’s Supply of Total Listings is down to 11 Months from 14 (Buyer’s Market).

 

Richmond Houses: : Total Units Sold in January 2013 was 63 – up from 44 in December 2012; New Listings in January 2013 were down 24% to January 2012; Month’s Supply of Total Listings is down to 13 Months from 19 (Buyer’s Market).

Richmond Condos: Total Units Sold in January 2013 was 59 – up from 54 in December 2012; New Listings in January 2013 were down 25% to January 2012; Month’s Supply of Total Listings is down to 12 Months from 14 (Buyer’s Market).

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