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!

 

“I am not an optimist, but a great believer of hope.”  Nelson Mandela

 sales and listings stats regional dec 15 2013

sales and listings stats houses townhouses condos dec 15 2013

sales and listings stats burnaby and beyond dec 15 2013

Sales and listings Stats are attached as of December 15th. Sales continue to improve over this same month last year with most areas close to the same level of units sold already as there were in total for December 2012. Total active listings is continuing to decline as we move toward the end of the year, setting up for a lower inventory to start the year than we have seen in the last 2 years. While most areas through Greater Vancouver remain in Balanced Market conditions, East Vancouver and North Vancouver are teetering on Seller’s Market conditions with strong sales and lower inventory levels:

 

Greater Vancouver – 1,072 Units Sold so far in December 2013, 1,171 Units Sold in December 2012, Sales to Listings Ratio is at 87% compared to 81% for December 2012. Total Active Listings currently are 13,911 (15,339 this date last year)

 

Vancouver West - 211 Units Sold so far in December 2013, 235 Units Sold in December 2012, Sales to Listings Ratio is at 86% compared to 85% for December 2012. Total Active Listings currently are 2,366 (2,814 this date last year)

 

Vancouver East - 124 Units Sold so far in December 2013, 124 Units Sold in December 2012, Sales to Listings Ratio is at 138% compared to 95% for December 2012. Total Active Listings currently are 1,000 (1,178 this date last year)

 

North Vancouver 87 Units Sold so far in December 2013, 90 Units Sold in December 2012, Sales to Listings Ratio is at 98% compared to 115% for December 2012. Total Active Listings currently are 785 (830 this date last year)

 

West Vancouver 40 Units Sold so far in December 2013, 38 Units Sold in December 2012, Sales to Listings Ratio is at 91% compared to 73% for December 2012. Total Active Listings currently are 591 (627 this date last year

 

Richmond  – 111 Units Sold so far in December 2013, 139 Units Sold in December 2012, Sales to Listings Ratio is at 61% compared to 62% for December 2012. Total Active Listings currently are 1,940 (2,092 this date last year

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"Little by little, one travels far." - J. R. R. Tolkien

 

 

Attached are the Sales and Listings Stats updated to the end of November 2013. November of this year saw a 38% increase in units sold compared to November 2012, albeit down 11% compared to October of this year in Greater Vancouver. November typically sees the real estate market wind down as we get closer to the holiday season. Total Active Listings are down 8% compared to this time last year.  Year to date, 2013 should finish 12 to 15% above 2012 for total units sold in Greater Vancouver. In their Fall Housing Market Outlook, the Canada Mortgage and Housing Corporation (CMHC) outlined that existing home sales are expected to increase in 2014 by 8% with the market to remain in balanced conditions. This is to be supported with an increase in economic and job growth projected in 2014. Further strengthening in global economies will benefit Vancouver and help sustain economic growth. And of course, pent up demand in our housing market will continue to be a positive factor moving forward.

 

New for this month’s sales and listings stats is the addition of statistics for Burnaby, New Westminster, Port Moody, Port Coquitlam, Coquitlam, Tsawwassen and Ladner.

 sales and listings stats vancouver and surrounding by dwelling type nov 2013

sales and listings stats vancouver and surrounding all residential nov 2013

sales and listings stats suburbs all residential nov 2013

Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in November 2013 was 2,390 – down from 2,698 (11%) in October 2013, up from 1,733 (38%) in November 2012; New Listings in November 2013 were down 25% from October 2013; Month’s Supply of Total Residential Listings is steady at 6 Months (Balanced Market).

Vancouver Westside Residential: Total Units Sold in November 2013 was 488 – down from 579 (16%) in October 2013, up from 358 (36%) in November 2012; New Listings in November 2013 were down 26% from October 2013; Month’s Supply of Total Residential Listings is steady at 5 Months (Balanced Market).

Vancouver Eastside Residential: Total Units Sold in November 2013 was 282 – down from 288 (2%) in October 2013, up from 197 (43%) in November 2012; New Listings in November 2013 were down 26% from October 2013; Month’s Supply of Total Residential Listings is steady at 4 Months (Bordering on Seller’s Market).

North Vancouver Residential:  Total Units Sold in November 2013 was 197 – down from 221 (11%) in October 2013, up from 145 (36%) in November 2012; New Listings in November 2013 were down 34% from October 2013; Month’s Supply of Total Residential Listings is steady at 4 Months (Bordering on Seller’s Market).

West Vancouver Residential: Total Units Sold in November 2013 was 89 – down from 110 (19%) in October 2013, up from 45 (98%) in November 2012; New Listings in November 2013 were down 34% from October 2013; Month’s Supply of Total Residential Listings is steady at 7 Months (Balanced Market).

Richmond Residential: Total Units Sold in November 2013 was 290 – down from 327 (11%) in October 2013, up from 210 (56%) in November 2012; New Listings in November 2013 were down 10% from October 2013; Month’s Supply of Total Residential Listings is steady at 7 Months (Balanced Market).

 

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