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!

 

"Destiny is not a matter of chance; but a matter of choice." - William Jennings

 

Sales and listings stats are attached as of June 26th. The summer market is still as hot as the weather, albeit a little less frenetic. As to be expected, inventories are shrinking for product throughout the market and sales in some market areas and types of product is showing signs of being behind that of June.  Sales in Greater Vancouver may fall behind 4,000 units for the first time in over 4 months, but just barely. The higher end of the market is showing signs of being slower than we’ve seen in the last few months, while strata properties – especially the lower end of the market are remaining strong. North Vancouver houses are bucking the trend with there being more sales than new listings so far in July. Here is a summary of the activity so far:

 

Sales and Listings Stats Houses Townhouses and Condos July 26 2015

 

Sales and Listings Stats All Regional July 26 2015

 

Greater Vancouver – 3,135 Units Sold so far in July 2015 compared to 3,111 Units Sold in July 2014. Total New Listings so far in July are 4,317 compared to 5,115 total in July 2014. Total Active Listings are at 12,833 (16,963 at the same time in July 2014), Sales To Listings Ratio is at 73% compared to 74% in June 2015.

 

Vancouver West - 627 Units Sold so far in July 2015 compared to 597 Units Sold in July 2014. Total New Listings so far in July are 844 compared to 1,009 total in July 2014. Total Active Listings are at 2,136 (3,031 at the same time in July 2014), Sales To Listings Ratio is at 74% compared to 78% in June 2015.

 

Vancouver East – 309 Units Sold so far in July 2015 compared to 360 Units Sold in July 2014. Total New Listings so far in July are 410 compared to 506 total in July 2014. Total Active Listings are at 872 (1,185 at the same time in July 2014), Sales To Listings Ratio is at 75% compared to 71% in June 2015.

 

North Vancouver – 233 Units Sold so far in July 2015 compared to 225 Units Sold in July 2014. Total New Listings so far in July are 251 compared to 352 total in July 2014. Total Active Listings are at 604 (983 at the same time in July 2014), Sales To Listings Ratio is at 93% compared to 86% in June 2015.

 

West Vancouver – 88 Units Sold so far in July 2015 compared to 94 Units Sold in July 2014. Total New Listings so far in July are 162 compared to 204 total in July 2014. Total Active Listings are at 625 (737 at the same time in July 2014), Sales To Listings Ratio is at 54% compared to 51% in June 2015.

 

Richmond – 407 Units Sold so far in July 2015 compared to 409 Units Sold in July 2014. Total New Listings so far in July are 635 compared to 757 total in July 2014. Total Active Listings are at 1,882 (2,438 at the same time in July 2014), Sales To Listings Ratio is at 64% compared to 65% in June 2015.

Post CommentComments: 0Read Full Story

Life is the art of drawing without an eraser." - John W. Gardner

 

Sales and listings stats are attached as of July 19, 2015. Summer sales levels continue to be strong thus far in July, although falling off slightly from June and the previous 3 months. With the current pace in July for Greater Vancouver, July is on track to be near or slightly below 4,000 homes sold in Greater Vancouver. There have been 2,289 homes sold so far in July in Greater Vancouver. Activity levels in the first week and a half of the month were similar to the previous months but last week saw a slight fall off. Probably due in fact to a shrinking base of active listings as well as summer distractions.

 

Strength in the condo and townhouse market is greater than the detached market in Vancouver. Sales of houses is down for July compared to previous months with only 74 houses sold in Vancouver West as of July 19th compared to 236 houses sold in June and only 89 houses sold in Vancouver East as of July 19th compared to 221 houses sold in June. North Vancouver is seeing better activity with both house and townhouse sales exceeding the amount of listings in July. Similarly in Ladner, the number of sales are exceeding the total number new listings in July.

 

Sales and Listings Stats Houses Townhouses Condos July 19 2015

 

Sales and Listings Stats All Regional July 19 2015

 

Here is a summary of the activity so far:

 

Greater Vancouver – 2,289 Units Sold so far in July 2015 compared to 3,111 Units Sold in July 2014. Total New Listings so far in July are 3,116 compared to 5,115 in July 2014. Total Active Listings are at 12,828 (16,999 at the same time in July 2014 – down 25%), Sales To Listings Ratio is at 73% compared to 61% in July 2014.

 

Vancouver West - 439 Units Sold so far in July 2015 compared to 597 Units Sold in July 2014. Total New Listings so far in July are 629 compared to 1,009 in July 2014. Total Active Listings are at 2,176 (3,028 at the same time in July 2014 – down 28%), Sales To Listings Ratio is at 70% compared to 59% in July 2014.

 

Vancouver East – 231 Units Sold so far in July 2015 compared to 360 Units Sold in July 2014. Total New Listings so far in July are 301 compared to 506 in July 2014. Total Active Listings are at 864 (1,182 at the same time in July 2014 – down 27%), Sales To Listings Ratio is at 77% compared to 71% in July 2014

 

North Vancouver – 173 Units Sold so far in July 2015 compared to 225 Units Sold in July 2014. Total New Listings so far in July are 197 compared to 352 in July 2014. Total Active Listings are at 628 (975 at the same time in July 2014 – down 36%), Sales To Listings Ratio is at 88% compared to 64% in July 2014

 

West Vancouver – 68 Units Sold so far in July 2015 compared to 94 Units Sold in July 2014. Total New Listings so far in July are 107 compared to 204 in July 2014. Total Active Listings are at 607 (729 at the same time in July 2014 – down 17%), Sales To Listings Ratio is at 64% compared to 46% in July 2014

 

Richmond – 307 Units Sold so far in July 2015 compared to 409 Units Sold in July 2014. Total New Listings so far in July are 425 compared to 757 in July 2014. Total Active Listings are at 1,856 (2,460 at the same time in July 2014 – down 25%), Sales To Listings Ratio is at 72% compared to 54% in July 2014

Post CommentComments: 0Read Full Story

"Enthusiasm finds the opportunities, and energy makes the most of them." - Henry Hoskins

 

Attached are the Sales and Listings Stats updated to the end of June 2015. June sales volume in Greater Vancouver were the highest since May 2007 and the sixth highest monthly total ever. It was the first time in history where residential sales have been over 4,000 units four months in a row. Consistency is a key to the market and right now it is consistent demand and a consistent lack of supply. There were 4,444 units sold in Greater Vancouver in June 2015, up 7% from May 2015 and up 29% from June 2014. The number of Active Listings is down 23% compared to the same time last year. With 3 month’s supply of listings in the market, it is a Seller’s Market compared to a more balanced market last year and a Buyer’s Market in 2013.

 

There were 22,041 units sold for the first 6 months in Greater Vancouver, up 30% compared to the first 6 months in 2014 and up 59% to the first 6 months in 2013. It has been the highest first half for sales since 2005 and 2004, and the third highest in Real Estate Board history. Total new listings for the first 6 months of 2015 are 8% below the 10 year average. The lack of supply is certainly contributing the price increases in the market and the existence of multiple offers being experienced. With July and August typically seeing new listings decline, this trend is likely to continue. With strong demand continuing, it certainly provides opportunity for those Sellers wanting to come on market. It seems it won’t be a summer of discontent for Sellers but a continuation of Buyers competing.

 

In the Fraser Valley, June 2015 sales were up 41% compared to June 2014. It was the fourth busiest month for MLS sales in the Fraser Valley. New listings in June increased by 12% providing for some relief in the number of total active listings. Demand within the Fraser Valley appears to be local and consistent with local movement for upsizing and downsizing.

 

 

Sales and Listings Stats Houses Townhouses Condos June 2015

 

Sales and Listings Stats All Regoinal June 2015

 

 

Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in June 2015 was 4,444 – up from 4,145 (7%) in May 2015, up from 3,452 (29%) in June 2014, up from 2,668 (67%) in June 2013; Active Listings are at 13,231 compared to 17,199 at this time last year; New Listings in June 2015 were up 9% compared to June 2014 and up 4% compared to May 2015; Month’s Supply of Total Residential Listings is steady at 3 Months (Seller’s Market) and a Sales to Listings Ratio of 74% compared to 63% in June 2014 and 72% in May 2015.

 

Vancouver Westside Residential: Total Units Sold in June 2015 was 884 – up from 812 (9%) in May 2015, up from 689 (28%) in June 2014, up from 595 (49%) in June 2013; Active Listings are at 2,228 compared to 3,093 at this time last year; New Listings in June 2015 were down 5% compared to June 2014 and up 0.5% compared to May 2015; Month’s Supply of Total Residential Listings is steady at 3 Months (Seller’s Market) and a Sales to Listings Ratio of 78% compared to 58% in June 2014 and 72% in May 2015.

 

Vancouver Eastside Residential: Total Units Sold in June 2015 was 467 – up from 446 (5%) in May 2015, up from 373 (25%) in June 2014, up from 279 (67%) in June 2013; Active Listings are at 888 compared to 1,225 at this time last year; New Listings in June 2015 were up 4% compared to June 2014 and down 5% compared to May 2015; Month’s Supply of Total Residential Listings is steady at 2 Months (Seller’s Market) and a Sales to Listings Ratio of 81% compared to 68% in June 2014 and 74% in May 2015.

 

North Vancouver Residential: Total Units Sold in June 2015 was 339 – up from 333 (2%) in May 2015, up from 280 (21%) in June 2014, up from 207 (64%) in June 2013; Active Listings are at 675 compared to 1,038 at this time last year; New Listings in June 2015 were down 1% compared to June 2014 and down 8% compared to May 2015; Month’s Supply of Total Residential Listings is steady at 2 Months (Seller’s Market) and a Sales to Listings Ratio of 86% compared to 70% in June 2014 and 78% in May 2015.

 

West Vancouver Residential: Total Units Sold in June 2015 was 132 – down from 141 (6%) in May 2015, up from 126 (5%) in June 2014, up from 94 (40%) in June 2013; Active Listings are at 629 compared to 737 at this time last year; New Listings in June 2015 were up 22% compared to June 2014 and up 4% compared to May 2015; Month’s Supply of Total Residential Listings is up to 5 Months (Balanced Market – in the higher end product with a Seller’s Market below $4-5 Million) and a Sales to Listings Ratio of 51% compared to 60% in June 2014 and 57% in May 2015.

 

Richmond Residential: Total Units Sold in June 2015 was 546 – down from 547 (0.5%) in May 2015, up from 422 (29%) in June 2014, up from 308 (77%) in June 2013; Active Listings are at 1,909 compared to 2,440 at this time last year; New Listings in June 2015 were up 16% compared to June 2014 and up 7% compared to May 2015; Month’s Supply of Total Residential Listings is steady at 3 Months (Seller’s Market) and a Sales to Listings Ratio of 65% compared to 59% in June 2014 and 70% in May 2015.

Post CommentComments: 0Read Full Story