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!

 

Why should you never iron a 4-leaf clover? You don't want to press your luck – Daryl Stout

 

May the luck of the Irish be with you!

 

Sales and listings stats are attached as of March 15th. March has provided the two strongest weeks for sales so far in 2015 with nearly 900 sales each week in Greater Vancouver. At the mid-point of March, sales are up 21% compared to the same point in February. Total New Listings so far in March for Greater Vancouver are up 7% compared to mid-month in February. So while there are a greater number of new listings coming on market, the pace of demand is stronger which is evident in the higher sales to listings ratio. To date in March Sales to Listings Ratio is at 60% compared to 56% in February and 50% in March of 2014. With spring break upon us, the amount of sales will likely drop slightly over the last two and a half weeks of the month compared to the first two weeks. At the current pace, March 2015 should have the highest level of sales in a month since March 2011. Here is a summary of the activity so far:

 

 

Sales and Listings Stats March 15 2015 Houses Townhouses and Condos


Sales and Listings Stats March 15 2015 All Regional

 

 

Greater Vancouver – 1,777 Units Sold so far in March 2015 compared to 1,373 Units Sold at the same time in February 2015. Total New Listings so far in March are 2,964 compared to 2,783 at the same time in February 2015. Total Active Listings are at 13,311 (15,144 at the same time in March 2014), Sales To Listings Ratio is at 60% compared to 56% in February 2015.

 

Vancouver West - 357 Units Sold so far in March 2015 compared to 288 Units Sold at the same time in February 2015. Total New Listings so far in March are 559 compared to 632 at the same time in February 2015. Total Active Listings are at 2,405 (2,717 at the same time in March 2014), Sales To Listings Ratio is at 64% compared to 50% in February 2015.

 

Vancouver East – 212 Units Sold so far in March 2015 compared to 174 Units Sold at the same time in February 2015. Total New Listings so far in March are 298 compared to 284 at the same time in February 2015. Total Active Listings are at 927 (1,078 at the same time in March 2014), Sales To Listings Ratio is at 62% compared to 48% in February 2015.

 

North Vancouver – 201 Units Sold so far in March 2015 compared to 127 Units Sold at the same time in February 2015. Total New Listings so far in March are 251 compared to 230 at the same time in February 2015. Total Active Listings are at 781 (916 at the same time in March 2014), Sales To Listings Ratio is at 80% compared to 56% in February 2015.

 

West Vancouver – 62 Units Sold so far in March 2015 compared to 73 Units Sold at the same time in February 2015. Total New Listings so far in March are 94 compared to 144 at the same time in February 2015. Total Active Listings are at 608 (632 at the same time in March 2014), Sales To Listings Ratio is at 66% compared to 49% in February 2015.

 

Richmond – 232 Units Sold so far in March 2015 compared to 196 Units Sold at the same time in February 2015. Total New Listings so far in March are 368 compared to 376 at the same time in February 2015. Total Active Listings are at 1,905 (2,079 at the same time in March 2014), Sales To Listings Ratio is at 63% compared to 54% in February 2015.

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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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