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!

 

   A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.Winston Churchill (Thank you Karen Ashby for sending this quote!)

 

Sales and listings stats are attached as of June 18, 2016. So far there have been 2,547 sales in Greater Vancouver in May. Down slightly from the same time in May. The trend continues with strata being the more active part of the market this month with higher sales to listings ratios in that product type. Total Active Listings continues to decline sitting at 8,380 in Greater Vancouver with most areas showing less new listings coming on market. Overall sales to listings ratio in Greater Vancouver is sitting at 76% consistent with May.

 

Sales and Listings Report Houses Townhouses Condos June 18 2016

 

Sales and Listings Report All Residential June 18 2016

 

 Here is a summary of the activity so far:

 

Greater Vancouver – 2,547 Units Sold so far in June 2016 while total new listings so far are at 3,330. Total Active Listings are at 8,380 compared to 13,272 at this time last year. Sales To Listings Ratio is at 76% compared to 76% in May.

 

Vancouver West – 464 Units Sold so far in June 2016 while total new listings so far are at 613. Total Active Listings are at 1,353 compared to 2,322 at this time last year. Sales To Listings Ratio is at 76% compared to 76% in May.

 

Vancouver East – 238 Units Sold so far in June 2016 while total new listings so far are at 313. Total Active Listings are at 711 compared to 914 at this time last year. Sales To Listings Ratio is at 76% compared to 67% in May.

 

North Vancouver – 179 Units Sold so far in June 2016 while total new listings so far are at 256. Total Active Listings are at 407 compared to 708 at this time last year. Sales To Listings Ratio is at 70% compared to 69% in May.

 

West Vancouver – 64 Units Sold so far in June 2016 while total new listings so far are at 134. Total Active Listings are at 470 compared to 623 at this time last year. Sales To Listings Ratio is at 48% compared to 56% in May.

 

Richmond – 355 Units Sold so far in June 2016 while total new listings so far are at 484. Total Active Listings are at 1,295 compared to 1,929 at this time last year. Sales To Listings Ratio is at 73% compared to 67% in May.

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"It's not what you are that holds you back, it's what you think you are not." - Denis Waitley

Sales and listings stats are attached as of June 11, 2016. So far there have been 1,660 sales in Greater Vancouver in June. The pace of June sales are down slightly compared to May but still very active compared to previous years. Total Active Listings are at 8,357 (down slightly from 8,393 at the same time in May), down from 12,297 in June 2015 and down from 17,199 in June 2014. What’s noticeable in the market is the pace of the strata market compared to the detached housing market. In most market areas, the sales to listings ratio for detached is below that of the strata market. In Vancouver’s Westside, the Sales to Listings Ratio for Detached is at 48% in June, for Townhouses it is 91% and for Condos 97%. In Vancouver’s Eastside it is 58% for Detached, 77% for Townhouses and 110% for Condos. Supply is still an issue in the market combined with strong demand is having the effect on prices were are seeing in the strata market. North Vancouver is still seeing a very undersupplied and active detached market though, continuing the push on prices there.

 

Sales and Listings Reports Houses Townhouses Condos June 11 2016

 

Sales and Listings Reports All Regional June 11 2016

 

Here is a summary of the activity so far:

 

Greater Vancouver – 1,660 Units Sold so far in June 2016 while total New Listings so far in May are 2,152. Total Active Listings are at 8,357 compared to 13,297 at this time last year. Sales To Listings Ratio is at 77% compared to 76% in May.

 

Vancouver West – 304 Units Sold so far in June 2016 while total New Listings so far in May are 376. Total Active Listings are at 1,316 compared to 2,304 at this time last year. Sales To Listings Ratio is at 81% compared to 76% in May.

 

Vancouver East – 152 Units Sold so far in June 2016 while total New Listings so far in May are 197. Total Active Listings are at 706 compared to 930 at this time last year. Sales To Listings Ratio is at 77% compared to 67% in May.

 

North Vancouver – 117 Units Sold so far in June 2016 while total New Listings so far in May are 163. Total Active Listings are at 394 compared to 704 at this time last year. Sales To Listings Ratio is at 72% compared to 69% in May.

 

West Vancouver – 41 Units Sold so far in June 2016 while total New Listings so far in May are 76. Total Active Listings are at 452 compared to 630 at this time last year. Sales To Listings Ratio is at 54% compared to 56% in May.

 

Richmond – 224 Units Sold so far in June 2016 while total New Listings so far in May are 314. Total Active Listings are at 1,298 compared to 1,905 at this time last year. Sales To Listings Ratio is at 71% compared to 67% in May.

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"We build too many walls and not enough bridges." - Isaac Newton

 

This is the Sales and Listings Report updated to the end of May 2016. Greater Vancouver real estate activity remained very strong through May, with sales levels at the same levels as April – stalling a drop in sales that we saw from March to April. Sales were up 18% year over year in Greater Vancouver. New Listings were up 12% in May 2016 compared to May 2015 and up 3% compared to April 2106. House price index is up 30% year over year, and up 16.6% this year. Overall market conditions remain in an under supplied state with 2 month’s supply of homes being all that are available in Greater Vancouver. North Vancouver, New Westminster, Coquitlam, Port Moody and Port Coquitlam all remain at one month supply of properties on the market. And what we are seeing now is that strata is becoming the new detached in terms of activity, bidding wars and price increases. Townhouses and half duplexes seeing the highest gains in prices in the strata market. The key problem is supply, and that’s not improving. 

 

“Home sellers are becoming more active in recent months, although that activity is being outpaced by home buyer demand today,” Dan Morrison, REBGV president said.

 

“Economic and job growth in Metro Vancouver is out performing most regions in the country. This is helping to underpin today’s activity.”

 

With housing starts not high enough to meet demand over the last 5 years and completions far below levels in the peak of the market during 2003 to 2007, undersupply in the market will continue through the next 3 to 5 years at least. With consistent demand in the resale and trade up and down market, population growth expected to continue at high levels and concentrations of the population wanting to be close to the urban centres, Metro Vancouver should continue to see strong market conditions through 2016. Debates will continue on how to control the market, but with little focus on the supply side it will be like wrestling a rocket.

 

Sales and Listings Report All Residential May 2016

 

Sales and Listings Report Houses Townhouses Condos May 2016

 

Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in May 2016 was 4,910 – up slightly from 4,898 in April 2016, up from 4,145 (18%) in May 2015, up from 3,331 (47%) in May 2014; Active Listings are at 8,431 compared to 13,385 at this time last year; New Listings in May 2016 were up 12% compared to May 2015, up 3% from April 2016; Month’s Supply of Total Residential Listings remains at 2 Months (Extreme Seller’s Market) and a Sales to Listings Ratio of 76% compared to 72% in May 2015 and 78% in April 2016.

 

Vancouver Westside Residential: Total Units Sold in May 2016 was 851 – down slightly from 878 (3%) in April 2016, up from 812 (5%) in May 2015, up from 675 (26%) in May 2014; Active Listings are at 1,337 compared to 2,401 at this time last year; New Listings in May 2016 were down 2% compared to May 2015, down 3% from April 2016; Month’s Supply of Total Residential Listings remains at 2 Months (Extreme Seller’s Market) and a Sales to Listings Ratio of 76% compared to 72% in May 2015 and 77% in April 2016.

 

Vancouver Eastside Residential Total Units Sold in May 2016 was 447 – up from 429 (4%) in April 2016, up from 446 in May 2015, up from 369 (21%) in May 2014; Active Listings are at 729 compared to 923 at this time last year and 630 at the end of April; New Listings in May 2016 were up 10% compared to May 2015, up 18% from April 2016; Month’s Supply of Total Residential Listings is up to 2 Months (Extreme Seller’s Market) and a Sales to Listings Ratio of 67% compared to 74% in May 2015 and 76% in April 2016.

 

North Vancouver Residential:  Total Units Sold in May 2016 was 346 – down from 359 (4%) in April 2016, up from 333 in May 2015 (4%), up from 280 (24%) in May 2014; Active Listings are at 383 compared to 749 at this time last year; New Listings in May 2016 were up 18% compared to May 2015, up 22% from April 2016; Month’s Supply of Total Residential Listings remains at 1 Month (Extreme Seller’s Market) and a Sales to Listings Ratio of 69% compared to 78% in May 2015 and 69% in April 2016.

 

West Vancouver Houses: Total Units Sold in May 2016 was 150 – up from 141 (6%) in April 2016, up from 141 (6%) in May 2015, up from 106 (42%) in May 2014; Active Listings are at 453 compared to 615 at this time last year and 437 at the end of April; New Listings in May 2016 were up 8% compared to May 2015, up 2% from April 2016; Month’s Supply of Total Residential Listings remains at 3 Months (Extreme Seller’s Market) and a Sales to Listings Ratio of 56% compared to 57% in May 2015 and 54% in April 2016.

 

Richmond Residential: Total Units Sold in May 2016 was 634 – up from 617 (3%) in April 2016, up from 547 (16%) in May 2015, up from 405 (57%) in May 2014; Active Listings are at 1,298 compared to 1,866 at this time last year and 1,225 at the end of April; New Listings in May 2016 were up 22% compared to May 2015, up 16% from April 2016; Month’s Supply of Total Residential Listings remains at 2 Months (Extreme Seller’s Market) and a Sales to Listings Ratio of 67% compared to 70% in May 2015 and 76% in April 2016.

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