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!

 

“Fortune favours the brave." - Publius Terence

 

Attached are the Sales and Listings Stats updated to March 23, 2013. Units sold in Greater Vancouver have already surpassed the total for February thus far. March should finish with close to 2,400 sales – the highest amount since May 2012. Vancouver’s Westside is having a strong month for sales in March, we should see close to 500 units sold – the highest amount since May 2012. Vancouver’s Westside Detached is on pace to have the highest units sold in a month since March 2012. We are also seeing less new listings coming on this month, compared to a typical March. As a result, Sales to Listings Ratios (Absorption Rate) are up dramatically in March with Vancouver’s Westside on pace to be ahead of March 2012. Total Month’s Supply will also drop in all areas by the end of March.

Sales and Listings Stats Regional

Sales and Listings Stats Houses, Townhouses, Condos

 

Summary of March 2013 so far:

  

Greater Vancouver All Residential: Total Units Sold in so far in March is 1,831– compared to a total of 1,822 in February 2013, Sales to Listings Ratio at 46% compared to 36% in February 2013.

 

Vancouver Westside All Residential: Total Units Sold in so far in March is 420 – compared to a total of 395 in February 2013, Sales to Listings Ratio at 53% compared to 37% in February 2013.

 

Vancouver Eastside All Residential: Total Units Sold in so far in March is 167 – compared to a total of 167 in February 2013, Sales to Listings Ratio at 44% compared to 37% in February 2013.

 

North Vancouver All Residential: Total Units Sold in so far in March is 156 – compared to a total of 156 in February 2013, Sales to Listings Ratio at 50% compared to 41% in February 2013.

 

West Vancouver All Residential: Total Units Sold in so far in March is 62 – compared to a total of 46 in February 2013, Sales to Listings Ratio at 39% compared to 20% in February 2013.

 

Richmond All Residential: Total Units Sold in so far in March is 209 – compared to a total of 221 in February 2013, Sales to Listings Ratio at 44% compared to 36% in February 2013.

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Sales and listings stats are attached as of March 16th. We’ve seen a much better month compared to February so far. Units sold are on pace to beat February, with less listings coming on market than we traditionally see in March. Sales to listings ratios are up compared to the first week in the month of March, and up from the January and February - showing more of the inventory is being absorbed. Here’s a summary of activity in March so far:

Sales and Listings Stats Regional

Sales and Listings Stats Houses, Townhouses, Condos

 

Greater Vancouver – 1,234 Units Sold so far in March 2013, 1,822 Sold in February 2013, Sales to Listings Ratio (Absorption Rate) is at 43%, compared to 40% in the first week and 36% in February.

 

Vancouver West - 287 Units Sold so far in March 2013, 395 Sold in February 2013, Sales to Listings Ratio (Absorption Rate) is at 53%, compared to 46% in the first week and 37% in February.

 

Vancouver East - 109 Units Sold so far in March 2013, 167 Sold in February 2013, Sales to Listings Ratio (Absorption Rate) is at 41%, compared to 41% in the first week and 37% in February.

 

North Vancouver – 113 Units Sold so far in March 2013, 156 Sold in February 2013, Sales to Listings Ratio (Absorption Rate) is at 50%, compared to 47% in the first week and 41% in February.

 

West Vancouver – 40 Units Sold so far in March 2013, 46 Sold in February 2013, Sales to Listings Ratio (Absorption Rate) is at 33%, compared to 25% in the first week and 20% in February.

 

Richmond – 140 Units Sold so far in March 2013, 221 Sold in February 2013, Sales to Listings Ratio (Absorption Rate) is at 39%, compared to 39% in the first week and 36% in February.

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Below are the Sales and Listings Stats updated to the end of February 2013 displayed graphically.

 

Sales and Listings Stats by Graph

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“Playing it safe is the riskiest choice we can ever make." - Sarah Ban Breathnach

 

Sales and listings stats are attached as of March 9th, 2013. We’ve had a strong start to the month with the best week for sales thus far in 2013. As a result, Total Active Listings on market are staying in check, with the significant pent up demand beginning to act in the market. As we’ve seen through the last few months, listings coming on at today’s prices are getting the attention of buyers – and a more significant rate.

Sales and Listings Stats Regional

Sales and Listings Stats Houses, Townhouses and Condos

 

Greater Vancouver - 643 Units Sold so far in March 2013, Sales to Listings Ratio (Absorption Rate) so far is 40% - compared to 36% in February 2013 and 26% in January 2013.

 

Vancouver West - 152 Units Sold so far in March 2013, Sales to Listings Ratio (Absorption Rate) so far is 46% - compared to 37% in February 2013 and 28% in January 2013.

 

Vancouver East - 58 Units Sold so far in March 2013, Sales to Listings Ratio (Absorption Rate) so far is 41% - compared to 37% in February 2013 and 31% in January 2013.

 

North Vancouver 62 Units Sold so far in March 2013, Sales to Listings Ratio (Absorption Rate) so far is 47% - compared to 41% in February 2013 and 29% in January 2013.

 

West Vancouver – 16 Units Sold so far in March 2013, Sales to Listings Ratio (Absorption Rate) so far is 25% - compared to 20% in February 2013 and 23% in January 2013.

 

Richmond – 75 Units Sold so far in March 2013, Sales to Listings Ratio (Absorption Rate) so far is 39% - compared to 36% in February 2013 and 22% in January 2013.

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“If we wait for the moment when everything, absolutely everything is ready, we shall never begin." - Ivan Turgenev

 

Attached are the Sales and Listings Stats updated to the end of February 2013. This year is continuing at a tepid pace, providing plenty of room to grow! While sales are lagging behind last year, so is the number of new listings coming on market. We saw through February the Sales to New Listings Ratio (absorption rate) improving, brining some markets into a balance state. While good opportunities for buyers still exist, they are dwindling. With new listings coming on at better price points and confidence in the market growing, sales will accelerate.

Sales and Listings Stats Regional

Sales and Listings Stats Houses, Townhouses and Condos

 

Greater Vancouver: Total Units Sold in February 2013 was 1,822 – up from 1,374 in January 2013 down from 2,572 in February 2012; New Listings in February 2013 were down 12% to February 2012; Month’s Supply of Total Residential Listings is down to 9 Months from 10 (Buyer’s Market).

Vancouver Westside Houses: Total Units Sold in February 2013 was 104 – up from 83 in January 2013 down from 177 in February 2012; New Listings in February 2013 were flat to February 2012; Month’s Supply of Total Residential Listings is flat at 9 Months (Buyer’s Market).

Vancouver Westside Condos: Total Units Sold in February 2013 was 253 – up from 200 in January 2013 down from 323 in February 2012; New Listings in February 2013 were down 20% to February 2012; Month’s Supply of Total Residential Listings is down to 7 Months from 8 (Balanced Market).

 

Vancouver Eastside Houses: Total Units Sold in February 2013 was 77 – up from 56 in January 2013 down from 125 in February 2012; New Listings in February 2013 were down 12% to February 2012; Month’s Supply of Total Residential Listings is down to 7 Months from 8 (Balanced Market).

Vancouver Eastside Condos: Total Units Sold in February 2013 was 67 – up from 57 in January 2013 down from 102 in February 2012; New Listings in February 2013 were down 33% to February 2012; Month’s Supply of Total Residential Listings is down to 7 Months from 8 (Balanced Market).

 

North Vancouver Houses: Total Units Sold in February 2013 was 76 – up from 52 in January 2013 down from 103 in February 2012; New Listings in February 2013 were down 4% to February 2012; Month’s Supply of Total Residential Listings is down to 5 Months from 6 (Balanced Market).

North Vancouver Condos: Total Units Sold in February 2013 was 52 – up from 38 in January 2013 down from 82 in February 2012; New Listings in February 2013 were down 18% to February 2012; Month’s Supply of Total Residential Listings is down to 7 Months from 9 (Balanced Market).

 

West Vancouver Houses: Total Units Sold in February 2013 was 31 – down from 38 in January 2013 down from 68 in February 2012; New Listings in February 2013 were up 39% to February 2012; Month’s Supply of Total Residential Listings is up to 16 Months from 11 (Buyer’s Market).

 

Richmond Houses : Total Units Sold in February 2013 was 89 – up from 63 in January 2013 down from 119 in February 2012; New Listings in February 2013 were down 17% to February 2012; Month’s Supply of Total Residential Listings is down to 10 Months from 13 (Buyer’s Market).

Richmond Condos: Total Units Sold in February 2013 was 80 – up from 59 in January 2013 down from 125 in February 2012; New Listings in February 2013 were down 20% to February 2012; Month’s Supply of Total Residential Listings is down to 10 Months from 12 (Buyer’s Market).

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