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!

 

"Become a student of change. It is the only thing that will remain constant." - Anthony J. D'Angelo

 

Attached are the Sales and Listings Stats updated to the end of August 2015. Real Estate in Greater Vancouver was busy this summer with homes sales between June and August 25 to 30 per cent above the ten year average.  At the same time, buyers were competing for a fewer number of properties available compared to previous years.

 

August sales in Greater Vancouver continued to show strong demand in the market with it being the highest volume for an August since 2009 and the fifth highest amount for August on record. There were 3,431 total sales in August, up from 2,820 in August 2014 (22 per cent) while down from 4,038 in July 2015 (the drop from July to August is typical of the summer months).  New listings in August were the lowest amount by month for the year bringing the total amount of listings on the market down to 11,942 which is close to where the year started – not a typical trend in the market. What is needed currently are more properties to come to market as demand is not showing signs of letting up.

 

Vancouver’s West Side performed better than most areas in August, with the townhouse and condo markets seeing the most strength. The detached market is without enough product which is bringing down the total inventory levels and keeping buyers at bay. The condo market is seeing the biggest drop in inventories, down 42 per cent from their highs in 2014. An extreme shortage in the North Vancouver market (all property types) kept sales to a lower point in August compared to other areas – buyers literally couldn’t find a property to buy! Markets in Port Moody, Port Coquitlam, Ladner saw Sales To Listings Ratios at 100 per cent and above in August – a clear indication of limited supply.

 

Sales and Listings Stats Houses Townhouses and Condos August 2015

 

Sales and Listings Stats All Regional August 2015

 

Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in August 2015 was 3,431 – down from 4,038 (15%) in July 2015, up from 2,820 (22%) in August 2014, up from 2,557 (34%) in August 2013; Active Listings are at 11,942 compared to 15,967 at this time last year and 12,559 at the end of July; New Listings in August 2015 were down 17% compared to July 2015 and up 9% compared to August 2014; 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 77% in July 2015 and 70% in August 2014.

 

Vancouver Westside Residential: Total Units Sold in August 2015 was 751 – down from 806 (7%) in July 2015, up from 554 (36%) in August 2014, up from 572 (31%) in August 2013; Active Listings are at 1,889 compared to 2,808 at this time last year and 2,103 at the end of July; New Listings in August 2015 were down 21% compared to July 2015 and even compared to August 2014; Month’s Supply of Total Residential Listings is steady at 3 Months (Seller’s Market) and a Sales to Listings Ratio of 89% compared to 76% in July 2015 and 66% in August 2014.

 

Vancouver Eastside Residential: Total Units Sold in August 2015 was 303 – down from  (23%) in July 2015, up from 296 (2%) in August 2014, up from 280 (8%) in August 2013; Active Listings are at 905 compared to 1,109 at this time last year and 838 at the end of July; New Listings in August 2015 were up 2% compared to July 2015 and up 19% compared to August 2014; Month’s Supply of Total Residential Listings is steady at 3 Months (Seller’s Market) and a Sales to Listings Ratio of 60% compared to 79% in July 2015 and 70% in August 2014.

 

North Vancouver Residential: Total Units Sold in August 2015 was 219 – down from 285 (23%) in July 2015, up from 197 (11%) in August 2014, up from 178 (23%) in August 2013; Active Listings are at 526 compared to 866 at this time last year and 592 at the end of July; New Listings in August 2015 were down 17% compared to July 2015 and up 1% compared to August 2014; Month’s Supply of Total Residential Listings is steady at 2 Months (Extreme Seller’s Market) and a Sales to Listings Ratio of 87% compared to 93% in July 2015 and 78% in August 2014.

 

West Vancouver Residential: Total Units Sold in August 2015 was 102 – down from 110 (7%) in July 2015, up from 91 (12%) in August 2014, up from 97 (5%) in August 2013; Active Listings are at 587 compared to 696 at this time last year and 620 at the end of July; New Listings in August 2015 were down 21% compared to July 2015 and up 13% compared to August 2014; Month’s Supply of Total Residential Listings is steady at 6 Months (Balanced Market) and a Sales to Listings Ratio of 64% compared to 54% in July 2015 and 64% in August 2014.

 

Richmond Residential: Total Units Sold in August 2015 was 455 – down from 543 (16%) in July 2015, up from 365 (25%) in August 2014, up from 339 (34%) in August 2013; Active Listings are at 1,756 compared to 2,370 at this time last year and 1,836 at the end of July; New Listings in August 2015 were down 12% compared to July 2015 and up 9% compared to August 2014; Month’s Supply of Total Residential Listings is up to 4 Months (Seller’s Market) and a Sales to Listings Ratio of 68% compared to 71% in July 2015 and 59% in August 2014.

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