"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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