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 love this country. I love my idea of this country.” —  Ralph Waldo Emerson

 

Sales and listings stats are attached as of September 19, 2016. The real estate market has shown a state of change over the last 4 months. Overall in the Greater Vancouver market, September sales are down from August. Some areas and market segments around Greater Vancouver are showing differing levels of sales compared to August. But September typically slower to start as people come back from vacation and kids head back to school. Average prices in some areas are down while others are maintaining or slightly above August. West Vancouver has seen the largest decrease in average price, dropping to $785,928 so far for September compared to $2,139,647 in August. This doesn’t mean homes are selling for less, but that less homes are selling in the higher price ranges. In West Vancouver particularly, there hasn’t been a sale for a home over $2,000,000 – significantly bringing down the average price – a calculated value.

 

As much as everyone is looking to label the market, accurate labels come after the markets have happened. With stories of buyers making more inquiries into the Toronto or Seattle market, I would bet those inquiries were always there. Tell a buyer (Foreign) that there cost has immediately gone up 15 per cent, of course they will inquire where this tax doesn’t exist. Will they act on that inquiry and abandon the market they truly desire to be in? Probably not to the same degree as we are lead to believe. But it is too early to fully understand where the market is at. What is certain, is real estate markets don’t remain static.

 

Sales and Listings Report Houses Townhouses Condos Sept 18 2016

 

Sales and Listings Report All Residential Sept 18 2016

 

Here is a summary of the activity so far:

 

Greater Vancouver –1,126 Units Sold so far in September 2016 compared to 1,287 Units Sold at this time in August 2016. Total New Listings so far in September are 2,693 compared to 2,507 at this time in August 2016. Total Active Listings are at 9,716 (11,258 at the same time in September 2015), Sales To Listings Ratio is at 42% compared to 58% at this time in August 2016.

 

Vancouver West - 219 Units Sold so far in September 2016 compared to 230 Units Sold at this time in August 2016. Total New Listings so far in September are 517 compared to 457 at this time in August 2016. Total Active Listings are at 1,593 (2,017 at the same time in September 2015), Sales To Listings Ratio is at 42% compared to 57% at this time in August 2016.

 

Vancouver East – 80 Units Sold so far in September 2016 compared to 111 Units Sold at this time in August 2016. Total New Listings so far in September are 299 compared to 272 at this time in August 2016. Total Active Listings are at 959 (841 at the same time in September 2015), Sales To Listings Ratio is at 27% compared to 47% at this time in August 2016.

 

North Vancouver – 89 Units Sold so far in September 2016 compared to 84 Units Sold at this time in August 2016. Total New Listings so far in September are 274 compared to 156 at this time in August 2016. Total Active Listings are at 533 (650 at the same time in September 2015), Sales To Listings Ratio is at 32% compared to 59% at this time in August 2016.

 

West Vancouver – 14 Units Sold so far in September 2016 compared to 31 Units Sold at this time in August 2016. Total New Listings so far in September are 115 compared to 67 at this time in August 2016. Total Active Listings are at 493 (533 at the same time in September 2015), Sales To Listings Ratio is at 12% compared to 49% at this time in August 2016.

 

Richmond – 129 Units Sold so far in September 2016 compared to 161 Units Sold at this time in August 2016. Total New Listings so far in September are 299 compared to 344 at this time in August 2016. Total Active Listings are at 1,412 (1,689 at the same time in September 2015), Sales To Listings Ratio is at 43% compared to 55% at this time in August 2016.

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If you want to go fast go alone, if you want to go far go together. - African Proverb

 

This is the Sales and Listings Report updated to the end of August 2016. The sky isn’t falling, the beginning of the end isn’t upon us, nor is this the end of the world as we know it… The market is showing signs of what markets do, they adjust. So while there were 2,554 units sold in August, the average going back to 1989 for the month of August is actually 2,569. And with the market in the middle of an adjustment, the provincial government wanted to throw a little fertilizer on it as well… And sometimes when too much fertilizer is put on it causes a shock. With such a swift and sudden move, the impact on foreign buyers can be debated every which way, but what this did do was cause some local buyers and sellers in the market to sit back and want to see what was going to happen, especially buyers wanting to know exactly how this would affect their potential purchase. And most importantly, let’s not forget it is August, a time when the market is typically slower, well within the average for August.

 

There will be much discussion around pricing going forward. While it is too early to identify any effects with the change in sales activity, we have seen average prices decline in the past few months. Keep in mind though that average prices are simply a calculation – the total dollar volume of all sales divided by the number of units sold. Given that the detached market has shown a more significant decline then the strata market, this will account for less sales at higher dollar values. This will decrease the average price. It doesn’t necessarily mean that buyers are paying less for a particular home though. The focus has been more on the less expensive strata market, thus bringing down the average price.

 

“The record-breaking sales we saw earlier this year were replaced by more historically normal activity throughout July and August,” Dan Morrison, REBGV president said. "Sales have been trending downward in Metro Vancouver for a few months. The new foreign buyer tax appears to have added to this trend by reducing foreign buyer activity and causing some uncertainty amongst local home buyers and sellers.

“It’ll take some months before we can really understand the impact of the new tax. We'll be interested to see the government's next round of foreign buyer data."

 

Sales and Listings Report for August 2016 Houses Townhouses Condos

 

Sales and Listings Report for August 2016 All Regional

 

 

Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in August 2016 was 2,554 – down from 3,301 (23%) in July 2016, down from 3,431 (25%) in August 2015, down from 2,820 (9%) in August 2014; Active Listings are at 9,198 compared to 11,942 at this time last year; New Listings in August 2016 were up 1% compared to August 2015, up 10% from July 2016; Month’s Supply of Total Residential Listings is up to 4 Months (Seller’s Market) and a Sales to Listings Ratio of 58% compared to 78% in August 2015 and 61% in July 2016.

 

Vancouver Westside Residential: Total Units Sold in August 2016 was 452 – down from 604 (25%) in July 2016, down from 751 (39%) in August 2015, down from 554 (18%) in August 2014; Active Listings are at 1,474 compared to 1,889 at this time last year; New Listings in August 2016 were down 6% compared to August 2015, down 28% from July 2016; Month’s Supply of Total Residential Listings is up to 3 Months (Seller’s Market) and a Sales to Listings Ratio of 57% compared to 89% in August 2015 and 59% in July 2016.

 

Vancouver Eastside Residential Total Units Sold in August 2016 was 218 – down from 290 (25%) in July 2016, down from 303 (27%) in August 2015, down from 296 (26%) in August 2014; Active Listings are at 865 compared to 905 at this time last year; New Listings in August 2016 were down 8% compared to August 2015, down 14% from July 2016; Month’s Supply of Total Residential Listings is up to 4 Months (Seller’s Market) and a Sales to Listings Ratio of 47% compared to 60% in August 2015 and 54% in July 2016.

 

North Vancouver Residential:  Total Units Sold in August 2016 was 161 – down from 240 (33%) in July 2016, down from 219 (26%) in August 2015, down from 197 (19%) in August 2014; Active Listings are at 395 compared to 526 at this time last year; New Listings in August 2016 were up 8% compared to August 2015, down 25% from July 2016; Month’s Supply of Total Residential Listings remains at 2 Months (Seller’s Market) and a Sales to Listings Ratio of 59% compared to 87% in August 2015 and 66% in July 2016.

 

West Vancouver Houses: Total Units Sold in August 2016 was 57 – down from 67 (15%) in July 2016, down from 110 (48%) in August 2015, down from 91 (37%) in August 2014; Active Listings are at 467 compared to 587 at this time last year; New Listings in August 2016 were down 27% compared to August 2015, down 42% from July 2016; Month’s Supply of Total Residential Listings is steady at 8 Months (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 49% compared to 64% in August 2015 and 33% in July 2016.

 

Richmond Residential: Total Units Sold in August 2016 was 324 – down from 433 (25%) in July 2016, down from 455 (39%) in August 2015, down from 365 11%) in August 2014; Active Listings are at 1,411 compared to 1,756 at this time last year; New Listings in August 2016 were down 12% compared to August 2015, down 22% from July 2016; Month’s Supply of Total Residential Listings is up to 4 Months (Seller’s Market) and a Sales to Listings Ratio of 55% compared to 68% in August 2015 and 57% in July 2016.

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"Nothing is more damaging to you than to do something that you believe is wrong." - Abraham

 

This is the Sales and Listings Report updated to the end of July 2016. Perhaps the Premier should have been receiving these stats updates as the Greater Vancouver real estate market may have showed it was looking after itself with home sales decreasing by 27 per cent in July compared to June. July showed a trend through the month that buyers were taking a break and enjoying the summer month and catching their breath after a very busy spring. For some markets like North Vancouver, this is typical but it was a trend shared throughout the detached market in Metro Vancouver with some seeing a more significant decline. West Vancouver Detached sales were down 41% compared to June 2016 and down 45 per cent to July 2015 and were in fact the lowest monthly sales amount since January 2014. Total Month’s Supply of Listings is up to 10 Months there, with sales down and inventories up. Richmond detached sales were down 29 per cent in July compared to June 2016, and down 46 per cent to July 2015. The Sales to Listings Ratio dropped to 38 per cent, the lowest level since January 2014 and the Month’s Supply of Listings is now at 6 Months. Vancouver West and East Side Detached sales were similarly down and showing 6 and 5 Month’s Supply of Listings respectively.

 

What does this all mean? The detached market was already showing signs of softening over the last three months. And more so in the least affordable markets. Funny how markets work. The shift to strata properties had continued in that time with those markets continuing to see Seller Market conditions with 2 Month’s Supply of Listings even with overall sales in those markets lower in July. Quite likely the percentage of foreign buyers that close in the coming months will be lower, likely more to do with pure market forces and not the Foreign Buyer Tax (the last week of July excluded as buyers rush to complete prior to the tax coming in).

 

What does this provide? Opportunity. A chance for buyers to have a more normal market to work within. An opportunity for sellers to look at making a move with a better chance to find their next home under normal market conditions. “After several months of record-breaking sales activity, home buyer demand returned to more historically normal levels in July,” Dan Morrison, Real Estate Board of Greater Vancouver president said. "Last month’s sales were 6.5 per cent above the 10-year sales average for the month.” So while the numbers show a decline, they were coming off some significant highs. Moving into normality isn’t such a bad thing. 

 

Sales and Listings Report Burnaby and East for July 2016

 

Sales and Listings Report July 2016

 

Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in July 2016 was 3,301 – down from 4,502 (27%) in June 2016, down from 4,145 (18%) in July 2015, up from 3,111 (6%) in July 2014; Active Listings are at 9,038 compared to 12,559 at this time last year; New Listings in July 2016 were up 2% compared to July 2015, down 12% from June 2016; Month’s Supply of Total Residential Listings is up to 3 Months (Seller’s Market) and a Sales to Listings Ratio of 61% compared to 77% in July 2015 and 74% in June 2016.

 

Vancouver Westside Residential: Total Units Sold in July 2016 was 604 – down from 816 (26%) in June 2016, down from 806 (25%) in July 2015, up from 597 (1%) in July 2014; Active Listings are at 1,495 compared to 2,103 at this time last year; New Listings in July 2016 were down 4% compared to July 2015, down 10% from June 2016; Month’s Supply of Total Residential Listings remains at 2 Months (Seller’s Market) and a Sales to Listings Ratio of 59% compared to 76% in July 2015 and 72% in June 2016.

 

Vancouver Eastside Residential Total Units Sold in July 2016 was 290 – down from 407 (29%) in June 2016, down from 391 (25%) in July 2015, down from 360 (19%) in July 2014; Active Listings are at 800 compared to 838 at this time last year; New Listings in July 2016 were down 10% compared to July 2015, down 9% from June 2016; Month’s Supply of Total Residential Listings is up to 3 Months (Seller’s Market) and a Sales to Listings Ratio of 54% compared to 79% in July 2015 and 69% in June 2016.

 

North Vancouver Residential:  Total Units Sold in July 2016 was 240 – down from 346 (30%) in June 2016, down from 285 (15%) in July 2015, up from 225 (7%) in July 2014; Active Listings are at 399 compared to 592 at this time last year; New Listings in July 2016 were up 20% compared to July 2015, down 17% from June 2016; Month’s Supply of Total Residential Listings is up to 2 Months (Seller’s Market) and a Sales to Listings Ratio of 66% compared to 93% in July 2015 and 79% in June 2016.

 

West Vancouver Houses: Total Units Sold in July 2016 was 67 – down from 109 (39%) in June 2016, down from 110 (61%) in July 2015, down from 94 (29%) in July 2014; Active Listings are at 514 compared to 620 at this time last year; New Listings in July 2016 were flat compared to July 2015, down 9% from June 2016; Month’s Supply of Total Residential Listings is up to 8 Months (Buyer’s Market) and a Sales to Listings Ratio of 33% compared to 54% in July 2015 and 50% in June 2016.

 

Richmond Residential: Total Units Sold in July 2016 was 433 – down from 637 (32%) in June 2016, down from 543 (20%) in July 2015, up from 409 (6%) in July 2014; Active Listings are at 1,398 compared to 1,836 at this time last year; New Listings in July 2016 were down 1% compared to July 2015, down 13% from June 2016; Month’s Supply of Total Residential Listings is up to 3 Months (Seller’s Market) and a Sales to Listings Ratio of 57% compared to 71% in July 2015 and 73% in June 2016.

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"Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment." – Buddha

 

Sales and listings stats are attached as of July 18, 2016. Quicker than the government can say let’s act, the market is saying it has its own mind with activity this month showing signs of a summer break. So far in July we have seen sales in Greater Vancouver down 31% compared to the same time last July. Listings are down as well, with new listings in Greater Vancouver down 15%. Total Active listings have increased ever so slightly and with the Sales to Listings Ratio dropping in all areas, it may give buyers a chance they haven’t seen in some months. It also means sellers have to be careful with pricing as the demand has come off the highs earlier this year (and highs they were!) But while the numbers are lower, it is still a market that favours the sellers and certainly the activity in July is not indicative of anything more at this point then typical market dynamics.

 

Sales and Listings Report Houses Townhouse and Condos

 

Sales and Listings Report All Regional

 

Here is a summary of the activity so far:

 

Greater Vancouver –1,599 Units Sold so far in July 2016 compared to 2,289 Units Sold at this time in July 2015. Total New Listings so far in July are 2,668 compared to 3,116 at this time in July 2015. Total Active Listings are at 8,784 (12,828 at the same time in July 2015), Sales To Listings Ratio is at 60% compared to 73% at this time in July 2015.

 

Vancouver West - 285 Units Sold so far in July 2016 compared to 439 Units Sold at this time in July 2015. Total New Listings so far in July are 516 compared to 629 at this time in July 2015. Total Active Listings are at 1,465 (2,176 at the same time in July 2015), Sales To Listings Ratio is at 55% compared to 77% at this time in July 2015.

 

Vancouver East – 141 Units Sold so far in July 2016 compared to 231 Units Sold at this time in July 2015. Total New Listings so far in July are 254 compared to 301 at this time in July 2015. Total Active Listings are at 775 (864 at the same time in July 2015), Sales To Listings Ratio is at 56% compared to 77% at this time in July 2015.

 

North Vancouver – 115 Units Sold so far in July 2016 compared to 173 Units Sold at this time in July 2015. Total New Listings so far in July are 191 compared to 197 at this time in July 2015. Total Active Listings are at 403 (628 at the same time in July 2015), Sales To Listings Ratio is at 60% compared to 88% at this time in July 2015.

 

West Vancouver – 28 Units Sold so far in July 2016 compared to 68 Units Sold at this time in July 2015. Total New Listings so far in July are 102 compared to 107 at this time in July 2015. Total Active Listings are at 499 (607 at the same time in July 2015), Sales To Listings Ratio is at 27% compared to 64% at this time in July 2015.

 

Richmond – 226 Units Sold so far in July 2016 compared to 307 Units Sold at this time in July 2015. Total New Listings so far in July are 362 compared to 425 at this time in July 2015. Total Active Listings are at 1,315 (1,856 at the same time in July 2015), Sales To Listings Ratio is at 62% compared to 72% at this time in July 2015.

 

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"An aim in life is the only fortune worth finding." - Robert Louis Stevenson

 

This is the Sales and Listings Report updated to the end of June 2016. Greater Vancouver real estate is shifting into summer mode, with sales levels down from May. Sales were down 8% compared to May 2016 while new listings were down 6% to May 2016 and up 6% to June 2015. The first half of 2016 saw 26,439 properties sold, up 20% to the first half of 2015, up 56% to the first half of 2014 and up 91% to the first half of 2013. There were 35,811 new listings in Greater Vancouver in the first half of 2016 – not much more than 2015 with 34,412. There were actually more new listings in the first half of 2010 with 38,118, than in 2011 with 35,900 and in 2012 with 36,685. So to say supply isn’t an issue, isn’t correct.

 

The house price index is up 32.1% year over year, and up 20.5% in the first 6 months of this year. Maple Ridge leads the way at 24.5% from January to June. There has been a shift in activity from detached housing properties to strata properties in the market with a higher sales to listings ratios. Vancouver’s Westside Detached market saw its Sales to Listings Ratio go from 63% in May to 46% in June while condos saw their Sales to Listings Ratio increase go from 83% in May to 85% in June. But all segments of the market remain in an undersupplied state. North Vancouver remains at one month supply and Richmond townhouses and even condos are sitting with one month’s supply – a dramatic drop after having been at 9 month’s supply in the fall of 2014.

 

For every home sale in Greater Vancouver there is an opinion about where the market is going and what should be done to get there. There has been a market shift in recent months with supply on the increase but demand for the most part is still keeping pace. So while there will a constant debate on what needs to be done, markets will do what markets do – react to the conditions that exist within them. In 2013 Economists said that a 10-15% correction was going to happen and that interest rates would rise… Neither occurred with prices up over 25% last year alone. With recent events such as Brexit, political discussions on reacting to the market and rise in the Canadian dollar, the real estate market will see effects from all those. To what degree remains to be seen and of course all remain unknown as to how each will play out over the remainder of 2016.

 

“While we’re starting to see more properties coming onto the market in recent months, the imbalance between supply and demand continues to influence market conditions,” Dan Morrison REBGV president said.

 

Sales and Listings Report for Houses Townhouses Condos June 2016

 

Sales and Listings Report for All Regional June 2016

 

Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in June 2016 was 4,502 – down from 4,910 (8%) in May 2016, up from 4,145 (9%) in June 2015, up from 3,331 (35%) in June 2014; Active Listings are at 8,546 compared to 13,385 at this time last year; New Listings in June 2016 were up 6% compared to June 2015, down 6% from May 2016; Month’s Supply of Total Residential Listings remains at 2 Months (Extreme Seller’s Market) and a Sales to Listings Ratio of 74% compared to 74% in June 2015 and 76% in May 2016. The House Price Index (HPI) is up 20.5% in the first 6 months of 2016.

 

Vancouver Westside Residential: Total Units Sold in June 2016 was 816 – down from 851 (4%) in May 2016, down from 884 (4%) in June 2015, up from 689 (18%) in June 2014; Active Listings are at 1,381 compared to 2,228 at this time last year; New Listings in June 2016 were the same compared to June 2015, up 2% from May 2016; Month’s Supply of Total Residential Listings remains at 2 Months (Extreme Seller’s Market) and a Sales to Listings Ratio of 72% compared to 78% in June 2015 and 76% in May 2016. The House Price Index (HPI) is up 19.6% in the first 6 months of 2016.

 

Vancouver Eastside Residential Total Units Sold in June 2016 was 407 – down from 447 (9%) in May 2016, down from 467 (13%) in June 2015, up from 373 (9%) in June 2014; Active Listings are at 753 compared to 888 at this time last year; New Listings in June 2016 were up 3% compared to June 2015, down 11% from May 2016; Month’s Supply of Total Residential Listings remains at 2 Months (Extreme Seller’s Market) and a Sales to Listings Ratio of 69% compared to 81% in June 2015 and 67% in May 2016. The House Price Index (HPI) is up 19.8% in the first 6 months of 2016.

 

North Vancouver Residential:  Total Units Sold in June 2016 was 346 – the same amount as May 2016, up from 339 (2%) in June 2015, up from 280 (24%) in June 2014; Active Listings are at 385 compared to 675 at this time last year; New Listings in June 2016 were up 12% compared to June 2015, down 12% from May 2016; Month’s Supply of Total Residential Listings remains at 1 Month (Extreme Seller’s Market) and a Sales to Listings Ratio of 79% compared to 86% in June 2015 and 69% in May 2016. The House Price Index (HPI) is up 20.5% in the first 6 months of 2016.

 

West Vancouver Houses: Total Units Sold in June 2016 was 109 – down from 150 (27%) in May 2016, down from 132 (17%) in June 2015, down from 126 (13%) in June 2014; Active Listings are at 488 compared to 629 at this time last year; New Listings in June 2016 were down 14% compared to June 2015, down 18% from May 2016; Month’s Supply of Total Residential Listings is up to 4 Months (Seller’s Market) and a Sales to Listings Ratio of 50% compared to 51% in June 2015 and 56% in May 2016. The House Price Index (HPI) is up 23.2% in the first 6 months of 2016.

 

Richmond Residential: Total Units Sold in June 2016 was 637 – up from 634 (1%) in May 2016, up from 546 (17%) in June 2015, up from 422 (51%) in June 2014; Active Listings are at 1,299 compared to 1,909 at this time last year; New Listings in June 2016 were up 5% compared to June 2015, down 8% from May 2016; Month’s Supply of Total Residential Listings remains at 2 Months (Extreme Seller’s Market) and a Sales to Listings Ratio of 73% compared to 65% in June 2015 and 67% in May 2016. The House Price Index (HPI) is up 21.8% in the first 6 months of 2016.

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   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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"Your attitude is either the lock on, or the key to the door of success." - Denis Waitley

 

This is the Sales and Listings Report updated to the end of April 2016. While Greater Vancouver set records for its weather this month with it being the driest month on record since 2004 and the warmest since 1937, the real estate market remained very hot as well with. While not quite record highs of March, April certainly was no bridesmaid. With 4,898 homes sold in April, it was the second highest amount of sales on record – second only to March 2016. Sales were up 15% compared to April 2015 and down 8% compared to March 2016. Total new listings in April were down 2.5% compared to March 2016. The result left 8,271 active listings on the market at months end, down 39% compared to April 2015 and down 50% compared to April 2014. There currently remain 2 Months Supply of homes on market in Greater Vancouver, keeping it in a strong Seller’s Market. This push continues into the townhouse and apartment market with inventories declining in many areas for those property types.

 

It appears this trend will continue going forward, with inventories expected to remain low and demand strong with continued low interest rates, strong population migration to B.C. (both nationally and internationally) and a push from first time buyers to get into the market. Pressure on prices will continue, with the Home Price Index showing a 7% increase in prices in Greater Vancouver so far in 2016.

 

“Home buyer competition remains intense across the region,” Dan Morrison, Real Estate Board of Greater Vancouver president said. “Whether you’re a home buyer or seller, it’s important to work with your local REALTOR® to get the information you need and to develop a strategy that will help you navigate today’s market.”

 

In the Fraser Valley, real estate sales were the highest for any April on record, up 47.8 per cent over the same month last year. Charles Wiebe, president of the Fraser Valley Real Estate Board said, “Fierce demand continues to put a strain on both inventory levels and buyers looking to purchase within the Valley.” Total active home listings at the end of April were once more down year over year, by 35.7 per cent. However the number of new homes listed for sale rose nearly 26 per cent year over year.

 

Sales and Listings Stats Houses Townhouses Condos April 2016

 

Sales and Listing Stats All Regional April 2016

 

Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in April 2016 was 4,898 – down from 5,301 in March 2015 (8%), up from 4,264 (15%) in April 2015, up from 3,090 (59%) in April 2014; Active Listings are at 8,271 compared to 13,460 at this time last year; New Listings in April 2016 were up 4% compared to April 2015; Month’s Supply of Total Residential Listings remains at 2 Months (Extreme Seller’s Market) and a Sales to Listings Ratio of 78% compared to 71% in April 2015 and 82% in March 2016.

 

Vancouver Westside Residential: Total Units Sold in April 2016 was 878 – down from 1,001 (12%) in March 2016, up from 811 (8%) in April 2015, up from 629 (40%) in April 2014; Active Listings are at 1,343 compared to 2,426 at this time last year; New Listings in April 2016 were down 7% compared to April 2015; Month’s Supply of Total Residential Listings is up to 2 Months (Extreme Seller’s Market) and a Sales to Listings Ratio of 77% compared to 66% in April 2015 and 92% in March 2016.

 

Vancouver Eastside Residential: Total Units Sold in April 2016 was 429 – down from 476 (10%) in March 2016, down from 467 (8%) in April 2015, up from 356 (21%) in April 2014; Active Listings are at 630 compared to 920 at this time last year; New Listings in April 2016 were down 8% compared to April 2015; Month’s Supply of Total Residential Listings remains at 1 Month (Extreme Seller’s Market) and a Sales to Listings Ratio of 76% compared to 76% in April 2015 and 82% in March 2016.

 

North Vancouver Residential:  Total Units Sold in April 2016 was 359 – down from 407 (12%) in March 2016, up from 336 (7%) in April 2015, up from 255 (41%) in April 2014; Active Listings are at 345 compared to 769 at this time last year; New Listings in April 2016 were down 7% compared to April 2015; Month’s Supply of Total Residential Listings remains at 1 Month (Extreme Seller’s Market) and a Sales to Listings Ratio of 87% compared to 76% in April 2015 and 92% in March 2016.

 

West Vancouver Houses: Total Units Sold in April 2016 was 142 – down from 179 (21%) in March 2016, up from 138 (3%) in April 2015, up from 99 (44%) in April 2014; Active Listings are at 437 compared to 634 at this time last year; New Listings in April 2016 were up 8% compared to April 2015; Month’s Supply of Total Residential Listings is up to 3 Months (Seller’s Market) and a Sales to Listings Ratio of 54% compared to 57% in April 2015 and 73% in March 2016.

 

Richmond Residential: Total Units Sold in April 2016 was 617 – down from 663 (7%) in March 2016, up from 587 (5%) in April 2015, up from 335 (84%) in April 2014; Active Listings are at 1,225 compared to 1,872 at this time last year; New Listings in April 2016 were steady compared to April 2015; 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 April 2015 and 71% in March 2016.

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“Do not let what you cannot do interfere with what you can do.” – John Wooden

 

Sales and listings stats are attached as of April 17, 2016. The story stays the same, while the month moves on to the next. Sales and listings continue at the pace set to start the year – sales on the high side, listings on the low side. Some of the characters have changed though with strata properties taking on a bigger role in the story. In both Vancouver’s East Side and West Side, the attached market has a sales to listings ratio close to 100% while the detached market has fallen to 52% and 58% respectively. So far there have been 2,571 properties sold in Greater Vancouver in April. This puts April on track to be another 5,000 sale month. Here is a summary of the activity so far:

 

Sales and Listings Report Houses Townhouses Condos Apr 17 2016

 

Sales and Listings Report All Residential Apr 17 2016

 

Greater Vancouver – 2,571 Units Sold so far in April 2016 compared to 4,264 Units Sold in April 2015. Total New Listings so far in April are 3,359 compared to 6,041 total in April 2015. Total Active Listings are at 8,219 compared to 13,372 at this time last year. Sales To Listings Ratio is at 77% compared to 82% in March 2016.

 

Vancouver West  – 455 Units Sold so far in April 2016 compared to 811 Units Sold in April 2015. Total New Listings so far in April are 615 compared to 1,236 total in April 2015. Total Active Listings are at 1,331 compared to 2,377 at this time last year. Sales To Listings Ratio is at 74% compared to 92% in March 2016.

 

Vancouver East – 221 Units Sold so far in April 2016 compared to 467 Units Sold in April 2015. Total New Listings so far in April are 313 compared to 611 total in April 2015. Total Active Listings are at 641 compared to 920 at this time last year. Sales To Listings Ratio is at 71% compared to 82% in March 2016.

 

North Vancouver – 201 Units Sold so far in April 2016 compared to 336 Units Sold in April 2015. Total New Listings so far in April are 212 compared to 444 total in April 2015. Total Active Listings are at 336 compared to 763 at this time last year. Sales To Listings Ratio is at 95% compared to 93% in March 2016.

 

West Vancouver – 73 Units Sold so far in April 2016 compared to 138 Units Sold in April 2015. Total New Listings so far in April are 145 compared to 244 total in April 2015. Total Active Listings are at 432 compared to 630 at this time last year. Sales To Listings Ratio is at 50% compared to 73% in March 2016.

 

Richmond – 337 Units Sold so far in April 2016 compared to 587 Units Sold in April 2015. Total New Listings so far in April are 425 compared to 811 total in April 2015. Total Active Listings are at 1,191 compared to 1,881 at this time last year. Sales To Listings Ratio is at 79% compared to 71% in March 2016.

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"The hardest thing to see is what is in front of your eyes." - Johann Wolfgang von Goethe

 

This is the Sales and Listings Report updated to the end of March 2016. For the first time in the history of the Greater Vancouver Board, there were over 5,000 homes sold in a month. March finished with 5,301 homes sold for the month – up 28% over March of last year. The same story continues with the number of listings on market being well below where they need to be. The month finished with 8,118 active listings, down 35% compared to the same time last year. So while the number of new listings were up in Greater Vancouver in March this year compared to March 2015, it was only up by 5%. In some areas, this trend was the opposite. Vancouver’s Westside and Eastside, North Vancouver and Burnaby South all saw less new listings in March 2016 compared to March 2015. Most areas are sitting with one month’s supply of listings. With the scale of demand currently in the market, that is causing extreme pressure on pricing – multiple offers are an occurrence more common than not.

 

All segments of the market are faced with this pressure of limited supply. The townhouse/half duplex market is seeing the tightest supply in the market. In North Vancouver there were 61 sales in March while there are only 36 units on the market – meaning without any new listings there would be no product available after half a month of sales! This segment of the market is showing a clear sign of needed supply and something that should be a focus on the development side. The condo market, while seemingly well stocked with many cranes above us building away, is sitting with 1 month’s supply in most areas. It would appear the strata market has taken over as the most active part of the market and with the most limited supply.

 

“March was the highest selling month the Real Estate Board of Greater Vancouver has ever recorded,” Dan Morrison, REBGV president said. “Today’s demand is broad based. Home buyers are active in neighbourhoods across our region.”

 

“Strong job and economic growth in our province, positive net migration and low interest rates are helping to drive this activity,” Morrison said.

 

Sales and Listings Stats Houses Townhouses Condos March 2016

 

Sales and Listings Stats All Regional March 2016

 

Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in March 2016 was 5,301 – up from 4,132 (28%) in March 2015, up from 2,697 (97%) in March 2014; Active Listings are at 8,118 compared to 13,391 at this time last year; New Listings in February 2016 were up 5% compared to March 2015; Month’s Supply of Total Residential Listings remains at 2 Months (Extreme Seller’s Market) and a Sales to Listings Ratio of 82% compared to 67% in March 2015.

 

Vancouver Westside Residential: Total Units Sold in March 2016 was 1,001 – up from 825 (21%) in March 2015, up from 571 (75%) in March 2014; Active Listings are at 1,304 compared to 2,402 at this time last year; New Listings in February 2016 were down 9% compared to March 2015; Month’s Supply of Total Residential Listings has dropped to 1 Month (Extreme Seller’s Market) and a Sales to Listings Ratio of 92% compared to 69% in March 2015.

 

Vancouver Eastside Residential: Total Units Sold in March 2016 was 476 – up from 464 (3%) from March 2015, up from 336 (42%) in March 2014; Active Listings are at 610 compared to 925 at this time last year; New Listings in February 2016 were down 8% compared to March 2015; Month’s Supply of Total Residential Listings dropped to 1 Month (Extreme Seller’s Market) and a Sales to Listings Ratio of 82% compared to 74% in March 2015.

 

North Vancouver Residential:  Total Units Sold in March 2016 was 407 – up from 399 (2%) from March 2015, up from 233 (75%) in March 2014; Active Listings are at 358 compared to 803 at this time last year; New Listings in February 2016 were down 15% compared to March 2015; Month’s Supply of Total Residential Listings remains at 1 Month (Extreme Seller’s Market) and a Sales to Listings Ratio of 92% compared to 77% in March 2015.

 

West Vancouver Houses: Total Units Sold in March 2016 was 179 – up from 135 (33%) from March 2015, up from 78 (129%) in March 2014; Active Listings are at 409 compared to 633 at this time last year; New Listings in February 2016 were up 8% compared to March 2015; Month’s Supply of Total Residential Listings dropped to 2 Months (Extreme Seller’s Market) and a Sales to Listings Ratio of 73% compared to 59% in March 2015.

 

Richmond Residential: Total Units Sold in March 2016 was 663 – up from 553 (20%) from March 2015, up from 374 (77%) in March 2014; Active Listings are at 1,213 compared to 1,871 at this time last year; New Listings in February 2016 were up 22% compared to March 2015; Month’s Supply of Total Residential Listings remains at 2 Months (Extreme Seller’s Market) and a Sales to Listings Ratio of 71% compared to 72% in March 2015.

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"Things do not happen. Things are made to happen." - John F Kennedy

 

This is the sales and listings report as of March 27th. March is on pace to hit 5,000 homes sold in Greater Vancouver for the first time ever. It would seem that the trend of more sales and less listings is something the market is not deviating from. With 4,462 properties sold so far in March and the current trend of 300 sales a day, March will likely finish close to 5,200 to 5,300 sales. Total active listings are at 7,954 down from 8,091 last month. Some areas will finish with 1 month’s supply of listings or less while 2 months will be the average. A far cry from two years ago when 6 to 10 months was what was available in the market. Some extreme undersupplied markets include North Vancouver townhouses with 56 sales so far in March with only 36 units available. In Vancouver’s West Side, there have been 87 sales and there are 87 active listings. Vancouver West Side condo inventory is down to 661, from a high of 2,344 in the spring of 2013. Here is a summary of the activity so far:

 

Sales and Listings Stats Houses Townhouses Condos Mar 27 2016

 

Sales and Listings Stats All Regional Mar 27, 2016

 

Greater Vancouver – 4,462 Units Sold so far in March 2016 compared to 4,254 Units Sold in February 2016. Total New Listings so far in March are 5,228 compared to 5,967 in February 2016. Total Active Listings are at 7,954 (13,521 at the same time in March 2015), Sales To Listings Ratio is at 85% compared to 71% in February 2016.

 

Vancouver West - 844 Units Sold so far in March 2016 compared to 852 Units Sold in February 2016. Total New Listings so far in March are 884 compared to 1,199 in February 2016. Total Active Listings are at 1,303 (2,414 at the same time in March 2015), Sales To Listings Ratio is at 95% compared to 71% in February 2016.

 

Vancouver East – 392 Units Sold so far in March 2016 compared to 342 Units Sold in February 2016. Total New Listings so far in March are 460 compared to 515 in February 2016. Total Active Listings are at 594 (968 at the same time in March 2015), Sales To Listings Ratio is at 85% compared to 66% in February 2016.

 

North Vancouver – 348 Units Sold so far in March 2016 compared to 346 Units Sold in February 2016. Total New Listings so far in March are 328 compared to 487 in February 2016. Total Active Listings are at 322 (805 at the same time in March 2015), Sales To Listings Ratio is at 106% compared to 71% in February 2016.

 

West Vancouver – 155 Units Sold so far in March 2016 compared to 169 Units Sold in February 2016. Total New Listings so far in March are 194 compared to 278 in February 2016. Total Active Listings are at 407 (636 at the same time in March 2015), Sales To Listings Ratio is at 80% compared to 61% in February 2016.

 

Richmond – 560 Units Sold so far in March 2016 compared to 533 Units Sold in February 2016. Total New Listings so far in March are 784 compared to 759 in February 2016. Total Active Listings are at 1,197 (1,893 at the same time in March 2015), Sales To Listings Ratio is at 71% compared to 70% in February 2016.

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May you have the hindsight to know where you’ve been, the foresight to know where you are going, and the insight to know when you have gone too far. – Irish Proverb

 

Sales and listings stats are attached as of March 14, 2016. The listings just ain’t a coming! So far March is on track with February sales, although with spring break upon us we could see that drop slightly. What’s apparent so far though is that the number of listings coming on market is on pace to be lower than February this year and March 2015. Demand and Supply are still very much at opposite ends of the spectrum. Here is a summary of the activity so far:

 

Sales and Listings Stats All Regional March 13 2016

 

Sales and Listings Stats Houses Townhouses Condos March 13, 2016

 

Greater Vancouver – 1,660 Units Sold so far in March 2016 compared to 1,649 Units Sold in February 2016 at mid-month. Total New Listings so far in February are 2,187 compared to 6,168 total in March 2015. Total Active Listings are at 8,200. Sales To Listings Ratio is at 76% compared to 71% in February 2016.

 

Vancouver West - 318 Units Sold so far in March 2016 compared to 344 Units Sold in February 2016 at mid-month. Total New Listings so far in February are 371 compared to 1,250 total in March 2015. Total Active Listings are at 1,396. Sales To Listings Ratio is at 86% compared to 71% in February 2016.

 

Vancouver East – 163 Units Sold so far in March 2016 compared to 139 Units Sold in February 2016 at mid-month. Total New Listings so far in February are 200 compared to 523 total in March 2015. Total Active Listings are at 606. Sales To Listings Ratio is at 82% compared to 66% in February 2016.

 

North Vancouver – 132 Units Sold so far in March 2016 compared to 125 Units Sold in February 2016 at mid-month. Total New Listings so far in February are 135 compared to 516 total in March 2015. Total Active Listings are at 378. Sales To Listings Ratio is at 98% compared to 71% in February 2016.

 

West Vancouver – 57 Units Sold so far in March 2016 compared to 66 Units Sold in February 2016 at mid-month. Total New Listings so far in February are 87 compared to 300 total in March 2015. Total Active Listings are at 443. Sales To Listings Ratio is at 66% compared to 61% in February 2016.

 

Richmond – 208 Units Sold so far in March 2016 compared to 205 Units Sold in February 2016 at mid-month. Total New Listings so far in February are 342 compared to 763 total in March 2015. Total Active Listings are at 1,184. Sales To Listings Ratio is at 61% compared to 70% in February 2016.

 

Have a happy St. Patrick’s Day!

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"I am who I am today because of the choices I made yesterday." - Eleanor Roosevelt

 

Attached are the Sales and Listings Stats updated to the end of February 2016. When the Groundhog came out of his hole on February 2nd, he was out to buy real estate! Shadow be damned! This month has seen it be a record month for sales in the month of February for Greater Vancouver. There were 37% more homes sold in February 2016 compared to January 2016 – 4,254 versus 3,108. And there were 66% more homes sold compared to 2015. And once again, the pressure is on inventory with 40% fewer listings on market at this time compared to last year. Buyers are extremely active while sellers are reluctant to list and join the buying pool. While there were 5,967 new listings in February compared to 5,566 in February 2015, this increase is not nearly enough to satisfy this insatiable demand right now.

 

All segments of the market are continuing to see this strong pace of demand and limited supply. The strata (apartment/townhouse) property market has been increasing in activity over the last 6 to 9 months with inventory levels dropping much like the detached market. In some cases, more so. In the Richmond townhouse market, inventories are down 70% compared to this time last year with their being 100 sales in February and currently only 85 properties on the market. That means it would take less than a month to sell out of the inventory without any listings coming on. A large number of regional strata property markets have 1 month’s supply of listings currently on market, including Vancouver’s West Side. So while it seemed like there was a lot of that type of product in the past, it is not the case right now. Supply is simply too low for the level of demand we have in the market at the current time. Something that needs to be considered in addressing the rate of rising prices. So while it may seem like the answer lies in controlling demand, perhaps policy to look at supply is more realistic.

 

“We’re in a competitive, fast-moving market cycle that favours home sellers,” Darcy McLeod, Real Estate Board of Greater Vancouver president said. “Sustained home buyer competition is keeping upward pressure on home prices across the region.”

 

Here’s a summary of the numbers:

 

Sales and Listings Statistics All Regional February 2016.pdf

 

Sales and Listings Statistics Houses Townhouses Condos For February 2016.pdf

 

Greater Vancouver: Total Units Sold in February 2016 was 4,254 – up from 3,108 (37%) from February 2015, up from 2,570 (66%) in February 2014; Active Listings are at 8,091 compared to 12,753 at this time last year; New Listings in February 2016 were up 7% compared to February 2015; Month’s Supply of Total Residential Listings has dropped to 2 Months (Extreme Seller’s Market) and a Sales to Listings Ratio of 71% compared to 56% in February 2015.

 

Vancouver Westside Residential: Total Units Sold in February 2016 was 852 – up from 631 (31%) from February 2015, up from 545 (56%) in February 2014; Active Listings are at 1,432 compared to 2,363 at this time last year; New Listings in February 2016 were down 4% compared to February 2015; Month’s Supply of Total Residential Listings has dropped to 2 Months (Extreme Seller’s Market) and a Sales to Listings Ratio of 71% compared to 50% in February 2015.

 

Vancouver Eastside Residential: Total Units Sold in February 2016 was 342 – up from 325 (5%) from February 2015, up from 313 (9%) in February 2014; Active Listings are at 601 compared to 915 at this time last year; New Listings in February 2016 were down 2% compared to February 2015; Month’s Supply of Total Residential Listings has dropped to 2 Months (Extreme Seller’s Market) and a Sales to Listings Ratio of 66% compared to 62% in February 2015.

 

North Vancouver Residential:  Total Units Sold in February 2016 was 346 – up from 273 (27%) from February 2015, up from 206 (70%) in February 2014; Active Listings are at 403 compared to 779 at this time last year; New Listings in February 2016 were the same amount compared to February 2015; Month’s Supply of Total Residential Listings has dropped to 1 Months (Extreme Seller’s Market) and a Sales to Listings Ratio of 71% compared to 56% in February 2015.

 

West Vancouver Houses: Total Units Sold in February 2016 was 169 – up from 146 (16%) from February 2015, up from 87 (94%) in February 2014; Active Listings are at 446 compared to 618 at this time last year; New Listings in February 2016 were down 7% compared to February 2015; Month’s Supply of Total Residential Listings has dropped to 3 Months (Seller’s Market) and a Sales to Listings Ratio of 61% compared to 49% in February 2015.

 

Richmond Residential: Total Units Sold in February 2016 was 533 – up from 399 (34%) from February 2015, up from 341 (56%) in February 2014; Active Listings are at 1,144 compared to 1,890 at this time last year; New Listings in February 2016 were up 3% compared to February 2015; Month’s Supply of Total Residential Listings has dropped to 2 Months (Extreme Seller’s Market) and a Sales to Listings Ratio of 70% compared to 54% in February 2015.

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"They always say time changes things, but you actually have to change them yourself." - Andy Warhol

 

Sales and listings stats are attached as of February 14, 2016. February continues the trend of a busy real estate market. What’s badly needed is still not coming on – Supply. The question of why prices are rising in all segments and areas of the market relate back to a fundamental of supply and demand – and right now supply is far below that of the demand in the market place. While constraints on demand is looked upon as a solution, the supply side of the equation needs to be tackled. This is becoming more and more evident in the strata segment of the market. In looking at inventory levels for strata properties we see that in Vancouver’s West Side townhouse/half duplex listings are down 56% and apartments are down 43% to last year at this time. In East Vancouver the townhouse/half duplex listings are down 48% and apartments are down 56%, in North Vancouver townhouse/half duplex listings are down 46% and apartments down 64%, and in Richmond townhouse/half duplex listings are down 70% and apartments are down 27% to this time last year. So while it may seem like there is a lot of new building going on, it’s not enough. And with the pressure of affordability pushing people to strata properties from a dwindling stock of detached properties, supply will continue to be in need.  Here is a summary of the activity so far:

 

Sales and Listings Stats Houses Townhouses Condos Feb 14 2016.

 

Sales and Listings Stats All Regional Feb 14 2016.

 

Greater Vancouver – 1,649 Units Sold so far in February 2016 compared to 999 Units Sold in January 2016 at mid-month. Total New Listings so far in February are 3,108 compared to 5,566 total in February 2015. Total Active Listings are at 8,033 (12,318 at the same time last year). Sales To Listings Ratio is at 53% compared to 57% in January 2016.

 

Vancouver West - 344 Units Sold so far in February 2016 compared to 192 Units Sold in January 2016 at mid-month. Total New Listings so far in February are 615 compared to 1,250 total in February 2015. Total Active Listings are at 1,458 (2,223 at the same time last year). Sales To Listings Ratio is at 56% compared to 48% in January 2016.

 

Vancouver East – 139 Units Sold so far in February 2016 compared to 74 Units Sold in January 2016 at mid-month. Total New Listings so far in February are 240 compared to 523 total in February 2015. Total Active Listings are at 580 (885 at the same time last year). Sales To Listings Ratio is at 58% compared to 53% in January 2016.

 

North Vancouver – 125 Units Sold so far in February 2016 compared to 56 Units Sold in January 2016 at mid-month. Total New Listings so far in February are 201 compared to 490 total in February 2015. Total Active Listings are at 368 (703 at the same time last year). Sales To Listings Ratio is at 62% compared to 54% in January 2016.

 

West Vancouver – 66 Units Sold so far in February 2016 compared to 45 Units Sold in January 2016 at mid-month. Total New Listings so far in February are 148 compared to 300 total in February 2015. Total Active Listings are at 444 (560 at the same time last year). Sales To Listings Ratio is at 45% compared to 46% in January 2016.

 

Richmond – 205 Units Sold so far in February 2016 compared to 146 Units Sold in January 2016 at mid-month. Total New Listings so far in February are 383 compared to 734 total in February 2015. Total Active Listings are at 1,174 (1,805 at the same time last year). Sales To Listings Ratio is at 54% compared to 64% in January 2016.

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"I can be changed by what happens to me. But I refuse to be reduced by it." - Maya Angelou

 

Attached are the Sales and Listings Stats updated to the end of January 2016. A Happy New Year it has been for Sellers! The activity in our real estate market continued on from where it left off in 2015. In Greater Vancouver, January saw an increase in the number of homes sold compared to January 2015, up 32%. In fact it was the second highest January on record for homes sold. Total new listings coming on market in January were 4,551 compared to 4,887 (down 7%) in January 2015 and down from 5,498 (17%) in January 2014. As a result, Total Active Listings at month end were 7,431 compared to 11,753 in January 2015 – down 37%. In most areas throughout Greater Vancouver a strong January for sales was evident, with West Vancouver (58%), Coquitlam (69%), Tsawwassen (87%) and Richmond (38%) doing even better than most areas in terms of year over year sales by units.

 

“Fundamental economics are driving today’s market. Home buyer demand is at near record heights and home seller supply is as low as we’ve seen in many years,” Darcy McLeod, Real Estate Board of Greater Vancouver president said.

 

Sales and Listings Stats Houses Townhouses Condos for January 2016

 

Sales and Listings Stats All Regional for January 2016

 

 

Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in January 2016 was 2,574 – up from 1,948 (32%) from January 2015, up from 1,804 (43%) in January 2014; Active Listings are at 7,431 compared to 11,753 at this time last year; New Listings in January 2016 were down 7% compared to January 2015; Month’s Supply of Total Residential Listings is steady at 3 Months (Seller’s Market) and a Sales to Listings Ratio of 57% compared to 40% in January 2015.

 

Vancouver Westside Residential: Total Units Sold in January 2016 was 473 – up from 369 (28%) from January 2015, up from 393 (20%) in January 2014; Active Listings are at 1,285 compared to 2,023 at this time last year; New Listings in January 2016 were down 2% compared to January 2015; Month’s Supply of Total Residential Listings is steady at 3 Months (Seller’s Market) and a Sales to Listings Ratio of 48% compared to 37% in January 2015.

 

Vancouver Eastside Residential: Total Units Sold in January 2016 was 207 – down from 212 (2%) from January 2015, up from 173 (20%) in January 2014; Active Listings are at 524 compared to 847 at this time last year; New Listings in January 2016 were down 11% compared to January 2015; Month’s Supply of Total Residential Listings is steady at 3 Months (Seller’s Market) and a Sales to Listings Ratio of 53% compared to 48% in January 2015.

 

North Vancouver Residential:  Total Units Sold in January 2016 was 167 – up from 149 (12%) from January 2015, up from 121 (38%) in January 2014; Active Listings are at 318 compared to 635 at this time last year; New Listings in January 2016 were down 17% compared to January 2015; Month’s Supply of Total Residential Listings is steady at 2 Months (Extreme Seller’s Market) and a Sales to Listings Ratio of 54% compared to 40% in January 2015.

 

West Vancouver Houses: Total Units Sold in January 2016 was 108 – up from 58 (86%) from January 2015, up from 62 (74%) in January 2014; Active Listings are at 403 compared to 524 at this time last year; New Listings in January 2016 were down 2% compared to January 2015; Month’s Supply of Total Residential Listings is steady at 4 Months (Seller’s Market) and a Sales to Listings Ratio of 46% compared to 24% in January 2015.

 

Richmond Residential: Total Units Sold in January 2016 was 396 – up from 287 (38%) from January 2015, up from 265 (49%) in January 2014; Active Listings are at 1,077 compared to 1,747 at this time last year; New Listings in January 2016 were down 17% compared to January 2015; Month’s Supply of Total Residential Listings is steady at 3 Months (Seller’s Market) and a Sales to Listings Ratio of 64% compared to 39% in January 2015.

 

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“People don’t run out of dreams – people just run out of time." – Glenn Frey

 

Sales and listings stats are attached as of January 16, 2016. January has started out of the gates with the hangover of a busy 2015 but quickly the appetite for the drink we call Metro Vancouver Real Estate has been increasing. With 999 sales so far this month, we are off the pace of last month after the same amount of time but we are still waiting for more listings to come on market to satisfy the continued demand. January is traditionally a slow starting month, with the first two weeks being the slowest. Here is a summary of the activity so far:

 

Sales and Listings Stats Houses Townhouses Condos Jan 16 2016

 

Sales and Listings Stats All Regional Jan 16 2016

 

Greater Vancouver – 999 Units Sold so far in January 2016 compared to 1,350 Units Sold in December 2015 at mid-month. Total New Listings so far in January are 2,028 compared to 4,887 total in January 2015. Total Active Listings are at 6,871 (6,844 at the end of December). Sales To Listings Ratio is at 49% compared to 40% in January 2015.

 

Vancouver West - 192 Units Sold so far in January 2016 compared to 250 Units Sold in December 2015 at mid-month. Total New Listings so far in January are 406 compared to 1,002 total in January 2015. Total Active Listings are at 1,092 (1,077 at the end of December). Sales To Listings Ratio is at 47% compared to 37% in January 2015.

 

Vancouver East – 74 Units Sold so far in January 2016 compared to 121 Units Sold in December 2015 at mid-month. Total New Listings so far in January are 181 compared to 441 total in January 2015. Total Active Listings are at 472 (434 at the end of December). Sales To Listings Ratio is at 41% compared to 48% in January 2015.

 

North Vancouver – 56 Units Sold so far in January 2016 compared to 107 Units Sold in December 2015 at mid-month. Total New Listings so far in January are 137 compared to 373 total in January 2015. Total Active Listings are at 280 (245 at the end of December). Sales To Listings Ratio is at 41% compared to 40% in January 2015.

 

West Vancouver – 45 Units Sold so far in January 2016 compared to 41 Units Sold in December 2015 at mid-month. Total New Listings so far in January are 106 compared to 241 total in January 2015. Total Active Listings are at 366 (363 at the end of December). Sales To Listings Ratio is at 42% compared to 24% in January 2015.

 

Richmond – 146 Units Sold so far in January 2016 compared to 185 Units Sold in December 2015 at mid-month. Total New Listings so far in January are 267 compared to 742 total in January 2015. Total Active Listings are at 1,046 (1,105 at the end of December). Sales To Listings Ratio is at 55% compared to 39% in January 2015.

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“Do or do not. There is no try” Yoda

“Life is ten percent what happens to you and ninety percent how you respond to it.” Lou Holtz

 

Happy New Year! All the best for a successful 2016 ahead!

 

Sales and Listings Stats Houses Townhouses Condos

 

Sales and Listings Stats All Residential December 2015

 

Attached are the end of December 2015 Sales and Listings Stats. And what a year it was! The true tale of the year statistically lies in Supply and Demand. Demand for real estate in Metro Vancouver was a pace not seen in 10 years and supply fell dramatically as less properties were listed and the strong demand bought up what was available. In Greater Vancouver there were 43,155 properties sold in 2015, the strongest year for sales on record, just eclipsing the previous high of 43,124 in 2005. With 33,693 properties sold in 2014, unit sales were up 28 per cent this year. Demand was consistent through the year while the number of properties listed declined as the year progressed. The result was a 39 per cent drop in Active Listings to start 2016 compared to the start of 2015. With 6,176 properties on market on market to start 2016, we are at record lows going back to the mid 80’s. Is it any wonder that we saw the price increases we did in 2015 with these kind of numbers? Most areas finished the year with 2 to 3 month’s supply of listings, with North Vancouver, Coquitlam and Tsawwassen finishing the year with 1 Month Supply of listings – meaning if there were no new listings, it would only take one month to completely sell out of all active listings!

 

While the detached market continued to lead price growth in 2015, the attached market experienced the strongest price growth in the last 7 to 8 years. Attached active listings are down 43% year over year compared to detached properties which were down 38%. Clearly the trend towards strata living is continuing to grow. For Greater Vancouver Detached Homes, the Benchmark Price is up 24.3% year over year, while Townhouses are up 13.6% and Apartments are up 14%.

 

What real factors impacted the property market this year? A review of some of the headlines shows that in January the Bank of Canada lowered the key interest rate – much to everyone’s surprise. This was repeated again in July with the government trying its best to avoid the “R” word – Recession. December saw the Bank of Canada hold the key interest rate at 0.5 per cent with the next announcement coming January 20, 2016 along with the government’s Monetary Policy Report. Most major banks see the rate remaining in check through 2016 and if the economy falters a further drop is not out of the question. Nationally we saw the price of oil dropping affecting markets in Alberta and Saskatchewan and with that sales levels falling in their real estate markets. The price of oil dropping significantly also had a major impact on Canada’s Economy. With stagnant rates and the drop in the price of oil, Canada’s Dollar fell against the U.S. Dollar. While this impact had nominal effects on U.S. buying trends in Metro Vancouver thus far, we’ll see what 2016 brings. Of course other types of foreign investment was very much the topic of pre and post-election discussions in Vancouver as affordability was on the lips of many concerned buyers. As of the start of 2016, government intervention much like accurate data on foreign purchasers remain hearsay. The bigger question remains, will city planners look at the supply side of the equation to tackle affordability.

 

So what might 2016 be like for the housing market in Metro Vancouver? One of the key factors which will affect the market is an economic fundamental – SUPPLY. Starting the year at the low levels we have and with demand remaining at an all-time high, without a significant increase in new listings the real estate will remain in Seller Market conditions. All indications are pointing to continued strength in the housing market but without increases in supply there could be a potential for continued pressure on prices and a stifling of buyers. Sellers want to sell and buyers want to buy, will the two come together in some kind of balance in 2016? Advantage Sellers to start! What can be said with certainty, Metro Vancouver has a finite amount of land available to develop. And what will be developed is multi-family homes. Single family homes will continue to decline in numbers – from 50 percent in 1991, to one third in 2011 and a projection of 10 per cent by 2040.

 

Here is a summary of the numbers:

 

Greater Vancouver: Total Units Sold in December 2015 was 2,905 – down from 3,603 in November 2015; up from 2,173 in December 2014 and 1,990 in December 2013. Total Active Listings are down 39% year over year, Month’s Supply of Total Residential Listings is at 2 Months (Extreme Seller’s Market) compared to 5 Months Supply at the end of 2014 and Sales to Listings Ratio was 140% in December 2015 compared to 112% in December 2014. Benchmark Price is up 18.9% since January 2015.

 

Vancouver Westside: Total Units Sold in December 2015 was 512 – down from 694 in November 2015; up from 415 in December 2014 and 393 in December 2013. Total Active Listings are down 42% year over year, Month’s Supply of Total Residential Listings is at 2 Months (Extreme Seller’s Market) compared to 4 Months Supply at the end of 2014 and Sales to Listings Ratio was 141% in December 2015 compared to 112% in December 2014.  Benchmark Price is up 20.3% since January 2015.

 

Vancouver Eastside: Total Units Sold in December 2015 was 264 – down from 333 in November 2015; down from 266 in December 2014 and up from 236 in December 2013. Total Active Listings are down 49% year over year, Month’s Supply of Total Residential Listings is at 2 Months (Extreme Seller’s Market) compared to 3 Months Supply at the end of 2014 and Sales to Listings Ratio was 138% in December 2015 compared to 119% in December 2014. Benchmark Price is up 22.1% since January 2015.

 

North Vancouver: Total Units Sold in December 2015 was 210 – down from 274 in November 2015; up from 156 in December 2014 and 137 in December 2013. Total Active Listings are down 56% year over year, Month’s Supply of Total Residential Listings is at 1 Month (Extreme Seller’s Market) compared to 4 Months Supply at the end of 2014 and Sales to Listings Ratio was 154% in December 2015 compared to 117% in December 2014. Benchmark Price is up 19.2% since January 2015.

 

West Vancouver: Total Units Sold in December 2015 was 86 – down from 108 in November 2015; up from 66 in December 2014 and 75 in December 2013. Total Active Listings are down 21% year over year, Month’s Supply of Total Residential Listings is at 4 Months (Seller’s Market) compared to 7 Months Supply at the end of 2014 and Sales to Listings Ratio was 110% in December 2015 compared to 94% in December 2014. Benchmark Price is up 28.7% since January 2015.

 

Richmond: Total Units Sold in December 2015 was 424 – down from 501 in November 2015; up from 302 in December 2014 and 249 in December 2013. Total Active Listings are down 36% year over year, Month’s Supply of Total Residential Listings is at 3 Months (Seller’s Market) compared to 6 Months Supply at the end of 2014 and Sales to Listings Ratio was 110% in December 2015 compared to 94% in December 2014. Benchmark Price is up 19.8% since January 2015.

 

Burnaby East: Total Units Sold in December 2015 was 35 – down from 49 in November 2015; up from 28 in December 2014 and 27 in December 2013. Total Active Listings are down 37% year over year, Month’s Supply of Total Residential Listings is at 2 Months (Extreme Seller’s Market) compared to 3 Months Supply at the end of 2014 and Sales to Listings Ratio was 206% in December 2015 compared to 122% in December 2014. Benchmark Price is up 17.3% since January 2015.

 

Burnaby North: Total Units Sold in December 2015 was 149 – down from 155 in November 2015; up from 122 in December 201 and 85 in December 2013. Total Active Listings are down 41% year over year, Month’s Supply of Total Residential Listings is at 2 Months (Extreme Seller’s Market) compared to 4 Months Supply at the end of 2014 and Sales to Listings Ratio was 149% in December 2015 compared to 182% in December 2014. Benchmark Price is up 17.0% since January 2015.

 

Burnaby South: Total Units Sold in December 2015 was 203 – down from 227 in November 2015; up from 116 in December 2014 and 111 in December 2013. Total Active Listings are down 40% year over year, Month’s Supply of Total Residential Listings is at 2 Months (Extreme Seller’s Market) compared to 5 Months Supply at the end of 2014 and Sales to Listings Ratio was 165% in December 2015 compared to 130% in December 2014. Benchmark Price is up 14.7% since January 2015.

 

New Westminster: Total Units Sold in December 2015 was 103 – down from 161 in November 2015; up from 72 in December 2014 and 70 in December 2013. Total Active Listings are down 48% year over year, Month’s Supply of Total Residential Listings is at 2 Months (Extreme Seller’s Market) compared to 6 Months Supply at the end of 2014 and Sales to Listings Ratio was 178% in December 2015 compared to 78% in December 2014. Benchmark Price is up 14.8% since January 2015.

 

Coquitlam: Total Units Sold in December 2015 was 243 – down from 268 in November 2015; up from 166 in December 2014 and 152 in December 2013. Total Active Listings are down 40% year over year, Month’s Supply of Total Residential Listings is at 1 Month (Extreme Seller’s Market) compared to 4 Months Supply at the end of 2014 and Sales to Listings Ratio was 147% in December 2015 compared to 108% in December 2014. Benchmark Price is up 19.3% since January 2015.

 

Port Moody: Total Units Sold in December 2015 was 51 – down from75 in November 2015; up from 42 in December 2014 and down from 55 in December 2013. Total Active Listings are down 44% year over year, Month’s Supply of Total Residential Listings is at 2 Months (Extreme Seller’s Market) compared to 4 Months Supply at the end of 2014 and Sales to Listings Ratio was 131% in December 2015 compared to 135% in December 2014. Benchmark Price is up 19.5% since January 2015.

 

Port Coquitlam: Total Units Sold in December 2015 was 98 – down from 117 in November 2015; up from 68 in December 2014 and 77 in December 2013. Total Active Listings are down 58% year over year, Month’s Supply of Total Residential Listings is at 1 Month (Extreme Seller’s Market) compared to 4 Months Supply at the end of 2014and Sales to Listings Ratio was 140% in December 2015 compared to 131% in December 2014. Benchmark Price is up 16.2% since January 2015.

 

Ladner: Total Units Sold in December 2015 was 22 – down from 26 in November 2015; down from 28 in December 2014 and up from 17 in December 2013. Total Active Listings are down 52% year over year, Month’s Supply of Total Residential Listings is at 2 Months (Extreme Seller’s Market) compared to 3 Months Supply at the end of 2014 and Sales to Listings Ratio was 116% in December 2015 compared to 140% in December 2014. Benchmark Price is up 23.5% since January 2015.

 

Tsawwassen: Total Units Sold in December 2015 was 50 – down from 52 in November 2015; up from 27 in December 2014 and 20 in December 2013. Total Active Listings are down 64% year over year, Month’s Supply of Total Residential Listings is at 1 Months (Extreme Seller’s Market) compared to 5 Months Supply at the end of 2014 and Sales to Listings Ratio was 161% in December 2015 compared to 117% in December 2014. Benchmark Price is up 25.8% since January 2015.

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“Great things are not done by impulse, but by a series of small things brought together." - Vincent van Gogh

 

Sales and listings stats are attached as of December 13, 2015. December is showing a continued decline of home inventory in the market as sales are exceeding new listings coming on market Greater Vancouver and throughout the market. Demand continues to be strong and with the holidays approaching, once again more so than previous years and with the typical December listings lull total active listings come January are likely to be a record low. Here is a summary of the activity so far:

 

Sales and Listings Stats Houses Townhouses Condos Dec 13 2015

 

Sales and Listings Stats All Regional Dec 13 2015

 

Greater Vancouver – 1,350 Units Sold so far in December 2015 compared to 2,173 Units Sold in December 2014. Total New Listings so far in November are 1,200 compared to 3,523 total in November 2015. Total Active Listings are at 8,184 (9,017 at the end of November). Sales To Listings Ratio is at 113% compared to 102% in November 2015.

 

Vancouver West - 250 Units Sold so far in December 2015 compared to 415 Units Sold in December 2014. Total New Listings so far in November are 211 compared to 646 total in November 2015. Total Active Listings are at 1,313 (1,466 at the end of November). Sales To Listings Ratio is at 118% compared to 107% in November 2015.

 

Vancouver East – 121 Units Sold so far in December 2015 compared to 266 Units Sold in December 2014. Total New Listings so far in November are 104 compared to 335 total in November 2015. Total Active Listings are at 558 (630 at the end of November). Sales To Listings Ratio is at 116% compared to 99% in November 2015.

 

North Vancouver – 107 Units Sold so far in December 2015 compared to 156 Units Sold in December 2014. Total New Listings so far in November are 89 compared to 269 total in November 2015. Total Active Listings are at 340 (399 at the end of November). Sales To Listings Ratio is at 120% compared to 102% in November 2015.

 

West Vancouver – 41 Units Sold so far in December 2015 compared to 66 Units Sold in December 2014. Total New Listings so far in November are 43 compared to 139 total in November 2015. Total Active Listings are at 409 (468 at the end of November). Sales To Listings Ratio is at 95% compared to 78% in November 2015.

 

Richmond – 185 Units Sold so far in December 2015 compared to 302 Units Sold in December 2014. Total New Listings so far in November are 232 compared to 539 total in November 2015. Total Active Listings are at 1,289 (1,348 at the end of November). Sales To Listings Ratio is at 80% compared to 93% in November 2015.

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"Stop looking back, you’re not going that way" – From Christina Ashby

 

Twas the weeks before Christmas and all through the market

Listings were scarce, as if stuffed in a pocket

Our agents’ offers were presented so diligently with care

In hopes that Sellers would be kind enough to sell them their ware

 

Dexter agents were all gathered trying to prepare

Always going the extra mile because they really do care

While shopping and dinners come this time of year

They don’t dare skip out and miss an offer that may be near

 

When all of a sudden, there was the sound of a loud chime

And it was clear that Kevin’s stats had in fact come just in time

Huddled around their screens with such care

It was clear where the market was after such a long stare

 

With open houses, and tours and the search still going on

Everyone is so busy right now before the year is gone

Go Calendars, go cards, and go bottles of good cheer

There is lots to do and get done to finish this fine year

 

Just remember one thing that will help you through

These stats will still come to help you and next year too

And with the click of the mouse and a chance to say “phew”

I wish you all a Merry Christmas and Happy New Year too!

 

Sales and Listings Stats Houses Townhouses Condos November 2015

 

 Sales and Listings Stats All Regional November 2015

 

Attached are the Sales and Listings Stats updated to the end of November 2015. November finished with 3,603 sales in Greater Vancouver – the only higher November for sales was 1989. Despite a shrinking inventory of homes for sale, the market remains very active. Total listings available as of November 30th were at 9,017 homes in Greater Vancouver. This past month Active Listings in Vancouver were a record low for the month of November, and in fact this November shattered that with 23% fewer properties on the market. Most other neighbourhoods followed suit. “November is typically one of the quietest months of the year in our housing market, but not this year,” Darcy McLeod, REBGV president said.

 

While most areas experienced a slight drop in sales in November compared to October, a few areas such as New Westminster, Richmond and Vancouver’s Westside were at the same level or above October sales. Sales to Listings Ratios in most markets were above 100% meaning that there were more sales in the month than new listings. Greater Vancouver saw a Sales to Listings Ratio at 102% in November, compared to 83% in November 2014 and 71% in November 2013. This contributes to the rapid decline in inventories throughout the region. This trend is actually being experienced across the province and country and was reported as a factor in the decline of resale properties for October and November in the United States.

 

Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in November 2015 was 3,603 – down from 3,714 (3%) in October 2015, up from 2,567 (40%) in November 2014, up from 2,390 (51%) in November 2013; Active Listings are at 9,017 compared to 13,698 at this time last year and 10,513 at the end of October; New Listings in November 2015 were down 17% compared to October 2015; Month’s Supply of Total Residential Listings is steady at 3 Months (Seller’s Market) and a Sales to Listings Ratio of 102% compared to 88% in October 2015 and 83% in November 2014.

 

Vancouver Westside Residential: Total Units Sold in November 2015 was 694 – down from 700 (1%) in October 2015, up from 493 (41%) in November 2014, up from 488 (42%) in November 2013; Active Listings are at 1,466 compared to 2,349 at this time last year and 1,787 at the end of October; New Listings in November 2015 were down 23% compared to October 2015; Month’s Supply of Total Residential Listings is down to 2 Months (Seller’s Market) and a Sales to Listings Ratio of 107% compared to 84% in October 2015 and 84% in November 2014.

 

Vancouver Eastside Residential: Total Units Sold in November 2015 was 333 – down from 357 (7%) in October 2015, up from 284 (17%) in November 2014, up from 282 (17%) in November 2013; Active Listings are at 630 compared to 1,046 at this time last year and 753 at the end of October; New Listings in November 2015 were down 17% compared to October 2015; Month’s Supply of Total Residential Listings is steady at 2 Months (Seller’s Market) and a Sales to Listings Ratio of 99% compared to 89% in October 2015 and 89% in November 2014.

 

North Vancouver Residential: Total Units Sold in November 2015 was 274 – down from 289 (5%) in October 2015, up from 190 (44%) in November 2014, up from 197 (39%) in November 2013; Active Listings are at 399 compared to 753 at this time last year and 494 at the end of October; New Listings in November 2015 were down 7% compared to October 2015; Month’s Supply of Total Residential Listings is down to 1 Months (Seller’s Market) and a Sales to Listings Ratio of 102% compared to 100% in October 2015 and 89% in November 2014.

 

West Vancouver Residential: Total Units Sold in November 2015 was 108 – down from 148 (27%) in October 2015, up from 79 (37%) in November 2014, up from 89 (21%) in November 2013; Active Listings are at 468 compared to 568 at this time last year and 545 at the end of October; New Listings in November 2015 were down 29% compared to October 2015; Month’s Supply of Total Residential Listings is steady at 4 Months (Seller’s Market) and a Sales to Listings Ratio of 78% compared to 75% in October 2015 and 75% in November 2014.

 

Richmond Residential: Total Units Sold in November 2015 was 501 – up from 488 (3%) in October 2015, up from 330 (52%) in November 2014, up from 290 (73%) in November 2013; Active Listings are at 1,348 compared to 2,023 at this time last year and 1,529 at the end of October; New Listings in November 2015 were down 8% compared to October 2015; Month’s Supply of Total Residential Listings is steady at 3 Months (Seller’s Market) and a Sales to Listings Ratio of 93% compared to 83% in October 2015 and 74% in November 2014.

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