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!

Sales and listings stats are attached as of April 15, 2019. April sales volumes are similar to that of March and down from April of last year. But the number of listings on market has increased and signs of the number of new listings in April are higher than last year and March of this year. With the number of new listings higher this month, the sales to listings ratio did drop from March so far, but that is likely to change by the end of the month with sales volumes increasing as the month goes on. Here is a summary of the activity so far:


Sales and Listings Statistics All Regional for April 15 2019


Sales and Listings Statistics Houses Townhouses Condos for April 15, 2019


Greater Vancouver – 856 Units Sold so far in April 2019 compared to 1,143 Units Sold as of April 15, 2018 and 864 Units Sold as of March 15, 2019. Total New Listings so far in April 2019 are 2,890 compared to 2,785 at the same time in April 2018 and 2,708 as of March 15, 2019. Total Active Listings are at 14,230 (9,723 at the same time last year). Sales To Listings Ratio is at 30% compared to 32% in March 2019.


Vancouver West - 154 Units Sold so far in April 2019 compared to 219 Units Sold as of April 15, 2018 and 176 Units Sold as of March 15, 2019. Total New Listings so far in April 2019 are 568 compared to 594 at the same time in April 2018 and 564 as of March 15, 2019. Total Active Listings are at 2,648 (1,862 at the same time last year). Sales To Listings Ratio is at 27% compared to 31% in March 2019.


Vancouver East – 94 Units Sold so far in April 2019 compared to 130 Units Sold as of April 15, 2018 and 176 Units Sold as of March 15, 2019. Total New Listings so far in April 2019 are 301 compared to 329 at the same time in April 2018 and 261 as of March 15, 2019. Total Active Listings are at 1,335 (1,114 at the same time last year). Sales To Listings Ratio is at 31% compared to 34% in March 2019.


North Vancouver – 71 Units Sold so far in April 2019 compared to 92 Units Sold as of April 15, 2018 and 78 Units Sold as of March 15, 2019. Total New Listings so far in April 2018 are 273 compared to 235 at the same time in April 2018 and 214 as of March 15, 2019. Total Active Listings are at 989 (596 at the same time last year). Sales To Listings Ratio is at 26% compared to 36% in March 2019.


West Vancouver – 27 Units Sold so far in April 2019 compared to 22 Units Sold as of April 15, 2018 and 17 Units Sold as of March 15, 2019. Total New Listings so far in April 2019 are 119 compared to 128 at the same time in April 2018 and 104 as of March 15, 2019. Total Active Listings are at 695 (608 at the same time last year). Sales To Listings Ratio is at 23% compared to 16% in March 2019.


Richmond – 80 Units Sold so far in April 2019 compared to 146 Units Sold as of April 15, 2018 and 94 Units Sold as of March 15, 2019. Total New Listings so far in April 2019 are 367 compared to 317 at the same time in April 2018 and 365 as of March 15, 2019. Total Active Listings are at 2,144 (1,408 at the same time last year). Sales To Listings Ratio is at 22% compared to 26% in March 2019.

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Attached are the Sales and Listings Stats updated to the end of March 2019. Ok, next! Let’s just move on to April! But for those looking for a recap, there were 1,743 sales in Greater Vancouver in March 2019, the lowest total for the month of March since 1986. So here is what we know; it was a slow month for home sales, buyers and sellers are both hesitant in the market, The Federal Government announced their budget in March and provided little in the way of benefits to buyers in our market area and now we see fixed interest rates coming down. Here’s what we don’t know; while fixed rates are falling, how far will they fall, will there be federal election promises to boost the housing market prior to October’s election, where will the inventory of resale homes go after moderately increasing in a slower market for sales. And what don’t we know: how many buyers and sellers are waiting eagerly on the sidelines to make a move – pent up demand is growing! And policy changes can only keep that demand down for so long.


The 1,743 homes sold in Greater Vancouver in March were up from 1,512 (15%) from February this year. This was compared with 2,551 sales (down 35%) in March last year and 3,632 sales in March 2017. This was 45 per cent below the 10-year average for March. In looking around Greater Vancouver, both Vancouver’s Westside and North Vancouver saw the most significant increases in sales month over month at 33 per cent and 35 per cent respectively. While West Vancouver, Port Coquitlam and Tsawwassen had sales in March lower than February. In Burnaby East there were zero detached house sales in March. Regional markets are different in their make up and activity, but we typically see Vancouver be a leading indicator in the market. So again, let’s move into April.


On the other side of the equation, there were 5,057 new listings in March in Greater Vancouver, up from 4,557 in March last year and up from 3,974 in February 2019. The number of new listings in March were 12 per cent below the 10-year average for March. There are currently 13,408 Active Listings on the market in Greater Vancouver – up from 9,037 at the end of March last year. While Active Listings are up 48 per cent, they are still relatively low compared to previous markets with similar activity. In 1998 there were 1,921 sales in March with 19,488 Active Listings and in 2013 there were 2,373 sales with 16,322 Active Listings. The lack of inventory is still keeping buyers at bay in some areas. In Vancouver’s Westside the amount of detached homes for sale decreased in March to 694 from 713 in February, an unusual trend for a spring market.


“Housing demand today isn’t aligning with our growing economy and low unemployment rates. The market trends we’re seeing are largely policy induced,” Ashley Smith, Real Estate Board of Greater Vancouver president said. “For three years, governments at all levels have imposed new taxes and borrowing requirements on the housing market. What policymakers are failing to recognize is that demand-side measures don’t eliminate demand, they sideline potential home buyers in the short term. That demand is ultimately satisfied down the line because shelter needs don’t go away. Using public policy to delay local demand in the housing market just feeds disruptive cycles that have been so well-documented in our region.”


The Fraser Valley Real Estate Board processed 1,221 sales of all property types on its MLS® in March, a 24.3 per cent increase compared to sales in February 2019, and a 26.6 per cent decrease compared to the 1,664 sales in March of last year. Of the 1,221 total sales, 462 were residential detached homes, 300 were townhouses, and 346 apartments. This was the lowest sales total for the Board for March since 2013. Darin Germyn, President of the Fraser Valley Real Estate Board, said “From a buyer’s perspective, there are more opportunities available as we move deeper into spring. Many of our communities are seeing higher inventory levels, especially in the attached market with the number of available townhomes almost doubling and Fraser Valley condos more than doubling compared to last year.”


Sales and Listings Statistics for Greater Vancouver All Residential for March 2019


Sales and Listings Statistics for Greater Vancouver Houses Townhouses and Condos for March 2019


Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in March 2019 was 1,745 – up from 1,512  (15%) in February 2019, down from 2,551 (32%) in March 2018, down from 3,632 (52%) in March 2017; Active Listings are at 13,408 compared to 9,037 at this time last year; New Listings in March 2019 were up 27% compared to February 2019; were up 10% compared to March 2018 and up 3% compared to March 2017; Month’s Supply of Total Residential Listings is steady at 8 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 35% compared to 38% in February 2019.


Vancouver Westside Residential: Total Units Sold in March 2019 was 333 – up from 254  (31%) in February 2019, down from 441 (24%) in March 2018, down from 616 (38%) in March 2017; Active Listings are at 2,511 compared to 1,691 at this time last year; New Listings in March 2019 were up 12% compared to February 2019; were up 11% compared to March 2018 and up 20% compared to March 2017; Month’s Supply of Total Residential Listings is down to 8 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 34% compared to 29% in February 2019.


Vancouver Eastside Residential: Total Units Sold in March 2019 was 174 – up from 166  (5%) in February 2019, down from 284 (39%) in March 2018, down from 384 (55%) in March 2017; Active Listings are at 1,239 compared to 1,043 at this time last year; New Listings in March 2019 were up 32% compared to February 2019; were the same compared to March 2018 and down 3% compared to March 2017; Month’s Supply of Total Residential Listings is steady at 7 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 34% compared to 43% in February 2019.


North Vancouver Residential Total Units Sold in March 2019 was 165 – up from 124  (33%) in February 2019, down from 216 (24%) in March 2018, down from 261 (37%) in March 2017; Active Listings are at 883 compared to 516 at this time last year; New Listings in March 2019 were up 16% compared to February 2019; were up 8% compared to March 2018 and up 14% compared to March 2017; Month’s Supply of Total Residential Listings is down to 5 Month’s Supply (Balanced Market) and a Sales to Listings Ratio of 42% compared to 37% in February 2019.


West Vancouver Houses: Total Units Sold in March 2019 was 34 – up from 39  (13%) in February 2019, down from 42 (19%) in March 2018, down from 97 (65%) in March 2017; Active Listings are at 670 compared to 585 at this time last year; New Listings in March 2019 were down 1% compared to February 2019; were up 9% compared to March 2018 and down 20% compared to March 2017; Month’s Supply of Total Residential Listings is up to 20 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 20% compared to 23% in February 2019.


Richmond Residential: Total Units Sold in March 2019 was 178 – up from 155  (15%) in February 2019, down from 306 (42%) in March 2018, down from 537 (67%) in March 2017; Active Listings are at 2,025 compared to 1,379 at this time last year; New Listings in March 2019 were up 42% compared to February 2019; were up 10% compared to March 2018 and down 1% compared to March 2017; Month’s Supply of Total Residential Listings is down to 11 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 26% compared to 33% in February 2019.


Burnaby East: Total Units Sold in March 2019 was 17 – the same as in February 2019, down from 26 (35%) in March 2018, down from 53 (68%) in March 2017; Active Listings are at 141 compared to 123 at this time last year; New Listings in March 2019 were up 42% compared to February 2019; were up 24% compared to March 2018 and down 20% compared to March 2017; Month’s Supply of Total Residential Listings is up to 8 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 33% compared to 47% in February 2019.


Burnaby North: Total Units Sold in March 2019 was 77 – down from 84 (8%) in February 2019, down from 131 (41%) in March 2018, down from 170 (55%) in March 2017; Active Listings are at 536 compared to 314 at this time last year; New Listings in March 2019 were up 40% compared to February 2019; were up 4% compared to March 2018 and down 6% compared to March 2017; Month’s Supply of Total Residential Listings is up to 7 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 34% compared to 53% in February 2019.


Burnaby South: Total Units Sold in March 2019 was 97 – up from 83  (17%) in February 2019, down from 103 (6%) in March 2018, down from 167 (42%) in March 2017; Active Listings are at 771 compared to 390 at this time last year; New Listings in March 2019 were up 40% compared to February 2019; were up 48% compared to March 2018 and up 29% compared to March 2017; Month’s Supply of Total Residential Listings is steady at 8 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 33% compared to 40% in February 2019.


New Westminster: Total Units Sold in March 2019 was 81 – up from 63 (29%) in February 2019, down from 149 (46%) in March 2018, down from 166 (51%) in March 2017; Active Listings are at 472 compared to 224 at this time last year; New Listings in March 2019 were up 24% compared to February 2019; were up 5% compared to March 2018 and down 1% compared to March 2017; Month’s Supply of Total Residential Listings is down to 6 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 40% compared to 38% in February 2019.


Coquitlam: Total Units Sold in March 2019 was 142 – up from 134 (6%) in February 2019, down from 204 (30%) in March 2018, down from 303 (53%) in March 2017; Active Listings are at 933 compared to 552 at this time last year; New Listings in March 2019 were up 42% compared to February 2019; were up 27% compared to March 2018 and up 9% compared to March 2017; Month’s Supply of Total Residential Listings is up to 7 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 35% compared to 46% in February 2019.


Port Moody: Total Units Sold in March 2019 was 38 – up from 30 (27%) in February 2019, down from 57 (33%) in March 2018, down from 83 (54%) in March 2017; Active Listings are at 210 compared to 131 at this time last year; New Listings in March 2019 were up 19% compared to February 2019; were up 22% compared to March 2018 and the same compared to March 2017; Month’s Supply of Total Residential Listings is steady at 6 Month’s Supply (Balanced Market) and a Sales to Listings Ratio of 40% compared to 38% in February 2019.


Port Coquitlam: Total Units Sold in March 2019 was 59 – down from 60 (1%) in February 2019, down from 103 (43%) in March 2018, down from 139 (58%) in March 2017; Active Listings are at 343 compared to 160 at this time last year; New Listings in March 2019 were up 19% compared to February 2019; were up 34% compared to March 2018 and down 6% compared to March 2017; Month’s Supply of Total Residential Listings is up to 6 Month’s Supply (Balanced Market) and a Sales to Listings Ratio of 35% compared to 43% in February 2019.


Ladner: Total Units Sold in March 2019 was 25 – up from 20 (25%) in February 2019, up from 24 (3%) in March 2018, down from 45 (44%) in March 2017; Active Listings are at 170 compared to 126 at this time last year; New Listings in March 2019 were up 54% compared to February 2019; were up 40% compared to March 2018 and up 4% compared to March 2017; Month’s Supply of Total Residential Listings is steady at 7 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 32% compared to 40% in February 2019.


Tsawwassen: Total Units Sold in March 2019 was 15 – down from 21 (29%) in February 2019, down from 39 (62%) in March 2018, down from 58 (74%) in March 2017; Active Listings are at 236 compared to 194 at this time last year; New Listings in March 2019 were up 55% compared to February 2019; were up 2% compared to March 2018 and up 16% compared to March 2017; Month’s Supply of Total Residential Listings is up to 16 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 18% compared to 38% in February 2019.


Pitt Meadows: Total Units Sold in March 2019 was 24 – the same as February 2019, down from 34 (29%) in March 2018, down from 44 (45%) in March 2017; Active Listings are at 119 compared to 52 at this time last year; New Listings in March 2019 were up 34% compared to February 2019; were up 61% compared to March 2018 and down 17% compared to March 2017; Month’s Supply of Total Residential Listings is down to 5 Month’s Supply (Balanced Market) and a Sales to Listings Ratio of 43% compared to 36% in February 2019.


Maple Ridge: Total Units Sold in March 2019 was 116 – up from 100 (16%) in February 2019, down from 180 (35%) in March 2018, down from 262 (56%) in March 2017; Active Listings are at 675 compared to 422 at this time last year; New Listings in March 2019 were up 26% compared to February 2019; down 8% compared to March 2018 and down 17% compared to March 2017; Month’s Supply of Total Residential Listings is up to 6 Month’s Supply (Balanced Market) and a Sales to Listings Ratio of 44% compared to 48% in February 2019.

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Attached are the Sales and Listings Stats updated to the end of February 2019. The NDP Government announced their budget in February and in the immortal words of George H. W. Bush – “No New Taxes!” After last years budget, there was a reprieve in the real estate market that was under fire from the provincial government last year. Although we did encounter one of the snowiest and coldest February’s we’d seen in a long time. Perhaps something had frozen over! There were 1,512 homes sold in Greater Vancouver in February up from 1,120 (up 35%) in January this year. This was compared with 2,241 sales (down 33%) in February last year and 2,461 sales in February 2017. This was 42 per cent below the 10-year average for February and the lowest since 1,494 in February 2009. Detached house sales edged up comparatively with there being 27% fewer compared to last February while there were 30% less townhouse sales and 35% less apartment sales. There is still a lack of activity for detached homes in Vancouver’s West Side with there being 43 sales in February 2019, compared to 53 sales in February 2018 and 93 sales in February 2017. Richmond saw a tougher month for detached home sales with 36 detached houses sold in February 2019 compared to 52 sold in February 2018 and 92 in February 2017.


On the other side of the equation, there were 3,974 new listings in February in Greater Vancouver, down from 4,363 in February last year and down from 4,980 in January 2019. The number of new listings in February 2018 were 20 per cent below the 10-year average for February. Overall inventories are not growing at a rate typical for the beginning of the spring market, with some multiple offers now occurring. The mix of listings contains a large number of long-standing listings or listings that were cancelled/expired and brought back. Some with price adjustments more attractive to buyers but many still beyond the current market values. Buyer’s market conditions continue to exist throughout Metro Vancouver and time will only tell how this will change going forward. March can be a bell weather for activity as both buyers and sellers typically become more active. The February Provincial Budget did call for an increase in home sales this year and in the years to come – which means more revenue from the Property Transfer Tax. So wishful thinking or a realization that real estate makes up an important part of the economy. But without increases in new listings and inventories, it will still be a struggle for buyers to find saleable product. So perhaps the government needs to read this review to really understand the market.


“For much of the past four years, we’ve been in a sellers’ market. Conditions have shifted over the last 12 months to favour buyers, particularly in the detached home market,” Phil Moore, Real Estate Board of Greater Vancouver president said. “This means that home buyers face less competition today, have more selection to choose from and more time to make their decisions. Homes priced well for today’s market are attracting interest, however buyers are choosing to take a wait-and-see approach for the time being.” Moore said “REALTORS® continue to experience more traffic at open houses. We’ll see if this trend leads to increased sales activity during the spring market.”


The Fraser Valley Real Estate Board processed 982 sales of all property types on its MLS® in February, a 25.3 per cent increase compared to sales in January 2019, and a 29.1 per cent decrease compared to the 1,385 sales in February of last year. Of the 982 total sales, 354 were residential detached homes, 236 were townhouses, and 288 were apartments. Darin Germyn, President of the Fraser Valley Real Estate Board, said “With inventory continuing to build, and prices softening across many of our areas and property types, buyers will be well positioned to make a move this spring. Demand within our region varies depending on the community, with both residential detached homes and attached properties garnering interest when priced effectively.”


Sales and Listings Statistics Houses Townhouses Condos for February 2019


Sales and Listings Statistics All Regional for February 2019


Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in February 2019 was 1,512 – up from 1,120  (35%) in January 2019, down from 2,241 (33%) in February 2018, down from 2,461 (39%) in February 2017; Active Listings are at 12,207 compared to 8,421 at this time last year; New Listings in February 2019 were down 20% compared to January 2019; were down 9% compared to February 2018 and down 6% compared to February 2017; Month’s Supply of Total Residential Listings is down to 8 Month’s Supply from 10 in January 2019 (Buyer’s Market) and a Sales to Listings Ratio of 38% compared to 22% in January 2019.


Vancouver Westside Residential: Total Units Sold in February 2019 was 254 – up from 187  (36%) in January 2019, down from 429 (41%) in February 2018, down from 505 (50%) in February 2017; Active Listings are at 2,333 compared to 1,553 at this time last year; New Listings in February 2019 were down 9% compared to January 2019; were down 1% compared to February 2018 and up 28% compared to February 2017; Month’s Supply of Total Residential Listings is down to 9 Month’s Supply from 11 in January 2019 (Buyer’s Market) and a Sales to Listings Ratio of 29% compared to 19% in January 2019.


Vancouver Eastside Residential: Total Units Sold in February 2019 was 166 – up from 105  (58%) in January 2019, down from 244 (32%) in February 2018, down from 229 (28%) in February 2017; Active Listings are at 1,119 compared to 981 at this time last year; New Listings in February 2019 were down 16% compared to January 2019; were down 18% compared to February 2018 and down 5% compared to February 2017; Month’s Supply of Total Residential Listings is down to 7 Month’s Supply from 10 in January 2019 (Buyer’s Market) and a Sales to Listings Ratio of 43% compared to 23% in January 2019.


North Vancouver Residential Total Units Sold in February 2019 was 124 – up from 91  (36%) in January 2019, down from 166 (25%) in February 2018, down from 216 (43%) in February 2017; Active Listings are at 814 compared to 494 at this time last year; New Listings in February 2019 were down 22% compared to January 2019; were up 4% compared to February 2018 and up 13% compared to February 2017; Month’s Supply of Total Residential Listings is down to 7 Month’s Supply compared to 8 in January 2019 (Buyer’s Market) and a Sales to Listings Ratio of 37% compared to 21% in January 2019.


West Vancouver Houses: Total Units Sold in February 2019 was 39 – up from 26  (50%) in January 2019, down from 42 (7%) in February 2018, down from 57 (32%) in February 2017; Active Listings are at 635 compared to 570 at this time last year; New Listings in February 2019 were down 27% compared to January 2019; were down 18% compared to February 2018 and up 12% compared to February 2017; Month’s Supply of Total Residential Listings is down to 16 Month’s Supply compared to 23 in January 2019 (Buyer’s Market) and a Sales to Listings Ratio of 23% compared to 11% in January 2019.


Richmond Residential: Total Units Sold in February 2019 was 155 – up from 121  (28%) in January 2019, down from 262 (41%) in February 2018, down from 338 (54%) in February 2017; Active Listings are at 1,842 compared to 1,290 at this time last year; New Listings in February 2019 were down 38% compared to January 2019; were down 26% compared to February 2018 and down 6% compared to February 2017; Month’s Supply of Total Residential Listings is down to 12 Month’s Supply from 14 in January 2019 (Buyer’s Market) and a Sales to Listings Ratio of 33% compared to 16% in January 2019.


Burnaby East: Total Units Sold in February 2019 was 17 – up from 11  (45%) in January 2019, down from 34 (50%) in February 2018, the same as February 2017; Active Listings are at 121 compared to 121 at this time last year; New Listings in February 2019 were down 35% compared to January 2019; were down 46% compared to February 2018 and down 25% compared to February 2017; Month’s Supply of Total Residential Listings is down to 7 Month’s Supply from 11 in January 2019 (Buyer’s Market) and a Sales to Listings Ratio of 47% compared to 20% in January 2019.


Burnaby North: Total Units Sold in February 2019 was 84 – up from 65  (29%) in January 2019, down from 89 (6%) in February 2018, down from 113 (26%) in February 2017; Active Listings are at 482 compared to 297 at this time last year; New Listings in February 2019 were down 26% compared to January 2019; were down 8% compared to February 2018 and down 24% compared to February 2017; Month’s Supply of Total Residential Listings is down to 6 Month’s Supply from 7 in January 2019 (Buyer’s Market) and a Sales to Listings Ratio of 53% compared to 30% in January 2019.


Burnaby South: Total Units Sold in February 2019 was 83 – up from 55 (49%) in January 2019, down from 135 (49%) in February 2018, down from 95 (13%) in February 2017; Active Listings are at 678 compared to 353 at this time last year; New Listings in February 2019 were down 26% compared to January 2019; were up 16% compared to February 2018 and up 19% compared to February 2017; Month’s Supply of Total Residential Listings is down to 8 Month’s Supply from 12 in January 2019 (Buyer’s Market) and a Sales to Listings Ratio of 40% compared to 20% in January 2019.


New Westminster: Total Units Sold in February 2019 was 63 – down from 75  (16%) in January 2019, down from 103 (39%) in February 2018, down from 108 (42%) in February 2017; Active Listings are at 403 compared to 210 at this time last year; New Listings in February 2019 were down 16% compared to January 2019; were up 6% compared to February 2018 and up 13% compared to February 2017; Month’s Supply of Total Residential Listings is up to 7 Month’s Supply from 5 in January 2019 (Buyer’s Market) and a Sales to Listings Ratio of 38% compared to 38% in January 2019.


Coquitlam: Total Units Sold in February 2019 was 134 – up from 87 (54%) in January 2019, down from 178 (25%) in February 2018, down from 194 (31%) in February 2017; Active Listings are at 832 compared to 511 at this time last year; New Listings in February 2019 were down 23% compared to January 2019; were down 3% compared to February 2018 and up 9% compared to February 2017; Month’s Supply of Total Residential Listings is down to 6 Month’s Supply from 9 in January 2019 (Buyer’s Market) and a Sales to Listings Ratio of 46% compared to 23% in January 2019.


Port Moody: Total Units Sold in February 2019 was 30 – down from 31  (3%) in January 2019, down from 42 (20%) in February 2018, down from 49 (39%) in February 2017; Active Listings are at 181 compared to 131 at this time last year; New Listings in February 2019 were down 4% compared to January 2019; were down 10% compared to February 2018 and down 4% compared to February 2017; Month’s Supply of Total Residential Listings is up to 6 Month’s Supply from 5 in January 2019 (Buyer’s Market) and a Sales to Listings Ratio of 38% compared to 37% in January 2019.


Port Coquitlam: Total Units Sold in February 2019 was 60 – up from 38  (58%) in January 2019, down from 84 (29%) in February 2018, down from 80 (25%) in February 2017; Active Listings are at 302 compared to 168 at this time last year; New Listings in February 2019 were down 1% compared to January 2019; were up 8% compared to February 2018 and up 8% compared to February 2017; Month’s Supply of Total Residential Listings is down to 5 Month’s Supply from 8 in January 2019 (Balanced Market) and a Sales to Listings Ratio of 43% compared to 27% in January 2019.


Ladner: Total Units Sold in February 2019 was 20 – up from 16 (25%) in January 2019, up from 19 (4%) in February 2018, down from 47 (57%) in February 2017; Active Listings are at 149 compared to 115 at this time last year; New Listings in February 2019 were down 19% compared to January 2019; were up 15% compared to February 2018 and down 6% compared to February 2017; Month’s Supply of Total Residential Listings is down to 7 Month’s Supply from 9 in January 2019 (Buyer’s Market) and a Sales to Listings Ratio of 40% compared to 26% in January 2019.


Tsawwassen: Total Units Sold in February 2019 was 21 – up from 14  (50%) in January 2019, down from 29 (28%) in February 2018, down from 26 (19%) in February 2017; Active Listings are at 195 compared to 173 at this time last year; New Listings in February 2019 were down 25% compared to January 2019; were down 8% compared to February 2018 and down 12% compared to February 2017; Month’s Supply of Total Residential Listings is down to 9 Month’s Supply from 13 in January 2019 (Buyer’s Market) and a Sales to Listings Ratio of 38% compared to 19% in January 2019.


Pitt Meadows: Total Units Sold in February 2019 was 15 – up from 10  (50%) in January 2019, down from 44 (66%) in February 2018, down from 23 (35%) in February 2017; Active Listings are at 111 compared to 65 at this time last year; New Listings in February 2019 were up 5% compared to January 2019; were down 6% compared to February 2018 and up 4% compared to February 2017; Month’s Supply of Total Residential Listings is down to 7 Month’s Supply from 10 in January 2019 (Buyer’s Market) and a Sales to Listings Ratio of 39% compared to 25% in January 2019.


Maple Ridge: Total Units Sold in February 2019 was 100 – up from 82  (50%) in January 2019, down from 158 (28%) in February 2018, down from 150 (19%) in February 2017; Active Listings are at 626 compared to 378 at this time last year; New Listings in February 2019 were down 18% compared to January 2019; were down 11% compared to February 2018 and down 9% compared to February 2017; Month’s Supply of Total Residential Listings is down to 6 Month’s Supply from 7 in January 2019 (Buyer’s Market) and a Sales to Listings Ratio of 48% compared to 32% in January 2019.

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Sales and listings stats are attached as of February 15, 2019. While the weather turned colder in February, the real estate market warmed up. Sales have increased at mid month compared to the same period in January. With 782 homes sold for the first half of February compared to 396 at the same time in January 2019, buyers were coming back to the market. Even with a week of snow, the number were higher. There were 2,240 new listings at this time compared to 1,940 new listings up to January 14 2019 showing that buyers are much more active than sellers. In fact, Richmond and Burnaby saw fewer new listings at mid month in February compared to January. And East Vancouver townhouses and condos have seen as many sales’ mid month in February as there were in all of January. Here is a summary of the activity so far in February 2019:


Sales and Listings Statistics All Residential for February 15 2019


Sales and Listings Statistics Houses Townhouses and Condos for February 15 2019


Greater Vancouver – 782 Units Sold so far in February 2019 compared to 396 Units Sold so far at this time in January 2019. Total New Listings so far in January are 2,240 compared to 1,940 at this point in January 2019. Total Active Listings are at 11,910 compared to 10,183 at mid month in January 2019. Sales To Listings Ratio is at 35% compared to 19% in January 2019 at mid month.


Vancouver West - 131 Units Sold so far in February 2019 compared to 57 Units Sold so far at this time in January 2019. Total New Listings so far in January are 514 compared to 367 at this point in January 2019. Total Active Listings are at 2,240 compared to 1,175 at mid month in January 2019. Sales To Listings Ratio is at 25% compared to 16% in January 2019 at mid month.


Vancouver East – 87 Units Sold so far in February 2019 compared to 41 Units Sold so far at this time in January 2019. Total New Listings so far in January are 216 compared to 193 at this point in January 2019. Total Active Listings are at 1,099 compared to 968 at mid month in January 2019. Sales To Listings Ratio is at 40% compared to 21% in January 2019 at mid month.


North Vancouver – 63 Units Sold so far in February 2019 compared to 31 Units Sold so far at this time in January 2019. Total New Listings so far in January are 194 compared to 151 at this point in January 2019. Total Active Listings are at 782 compared to 604 at mid month in January 2019. Sales To Listings Ratio is at 32% compared to 21% in January 2019 at mid month.


West Vancouver – 17 Units Sold so far in February 2019 compared to 7 Units Sold so far at this time in January 2019. Total New Listings so far in January are 107 compared to 91 at this point in January 2019. Total Active Listings are at 629 compared to 544 at mid month in January 2019. Sales To Listings Ratio is at 16% compared to 8% in January 2019 at mid month.


Richmond – 75 Units Sold so far in February 2019 compared to 49 Units Sold so far at this time in January 2019. Total New Listings so far in January are 273 compared to 293 at this point in January 2019. Total Active Listings are at 1,805 compared to 1,460 at mid month in January 2019. Sales To Listings Ratio is at 27% compared to 17% in January 2019 at mid month.


Burnaby East – 7 Units Sold so far in February 2019 compared to 3 Units Sold so far at this time in January 2019. Total New Listings so far in January are 19 compared to 22 at this point in January 2019. Total Active Listings are at 122 compared to 106 at mid month in January 2019. Sales To Listings Ratio is at 37% compared to 14% in January 2019 at mid month.


Burnaby North – 46 Units Sold so far in February 2019 compared to 22 Units Sold so far at this time in January 2019. Total New Listings so far in January are 78 compared to 91 at this point in January 2019. Total Active Listings are at 471 compared to 441 at mid month in January 2019. Sales To Listings Ratio is at 59% compared to 22% in January 2019 at mid month.


Burnaby South – 47 Units Sold so far in February 2019 compared to 23 Units Sold so far at this time in January 2019. Total New Listings so far in January are 118 compared to 105 this point in January 2019. Total Active Listings are at 662 compared to 570 at mid month in January 2019. Sales To Listings Ratio is at 40% compared to 22% in January 2019 at mid month.


New Westminster – 34 Units Sold so far in February 2019 compared to 27 Units Sold so far at this time in January 2019. Total New Listings so far in January are 85 compared to 75 at this point in January 2019. Total Active Listings are at 403 compared to 364 at mid month in January 2019. Sales To Listings Ratio is at 40% compared to 36% in January 2019 at mid month.


Coquitlam – 75 Units Sold so far in February 2019 compared to 17 Units Sold so far at this time in January 2019. Total New Listings so far in January are 154 compared to 144 at this point in January 2019. Total Active Listings are at 806 compared to 726 at mid month in January 2019. Sales To Listings Ratio is at 49% compared to 12% in January 2019 at mid month.


Port Moody – 17 Units Sold so far in February 2019 compared to 10 Units Sold so far at this time in January 2019. Total New Listings so far in January are 43 compared to 25 at this point in January 2019. Total Active Listings are at 172 compared to 145 at mid month in January 2019. Sales To Listings Ratio is at 40% compared to 40% in January 2019 at mid month.


Port Coquitlam – 25 Units Sold so far in February 2019 compared to 16 Units Sold so far at this time in January 2019. Total New Listings so far in January are 73 compared to 67 at this point in January 2019. Total Active Listings are at 303 compared to 251 at mid month in January 2019. Sales To Listings Ratio is at 34% compared to 24% in January 2019 at mid month.


Ladner – 13 Units Sold so far in February 2019 compared to 1 Units Sold so far at this time in January 2019. Total New Listings so far in January are 29 compared to 24 at this point in January 2019. Total Active Listings are at 140 compared to 132 at mid month in January 2019. Sales To Listings Ratio is at 45% compared to 4% in January 2019 at mid month.


Tsawwassen – 11 Units Sold so far in February 2019 compared to 2 Units Sold so far at this time in January 2019. Total New Listings so far in January are 31 compared to 37 at this point in January 2019. Total Active Listings are at 190 compared to 175 at mid month in January 2019. Sales To Listings Ratio is at 35% compared to 5% in January 2019 at mid month.

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Attached are the Sales and Listings Report updated to the end of January 2019. New Year, a similar mentality to start the year with a wait and see attitude in the market with both buyers and sellers. But the feeling is one of some growth of opportunity in the market with prices coming off lofty highs and some multiple offers occurring. Call it tempered optimism. There were 1,120 home sales in Greater Vancouver in January this year, the third lowest total since 2000 (771 in 2009 and 1,062 in 2000). With only 1,094 home sales in December it is curious that only twice since 2000 have sales in January been higher than the preceding December as January is typically a slow month to start the year. Sales in January were 35 per cent below the 10-year average for January, not surprising after the year we had in 2018. With 4,980 new listings in January this year, it was 27 per cent up from January 2018 and only up 3 per cent from the 10 year average. Total sales for Greater Vancouver in January were 1,864 – up 6.5 per cent from January 2017 and up 6.4 per cent on the ten year average. Total active listings were at 11,427 at month’s end, compared to 7,371 in January 2018, 7,834 in January 2017 and 11,753 in January 2015.


With the real estate market in Metro Vancouver firmly entrenched in a Buyer’s Market, what brought us here. The detached market has existed with these conditions much of the last two years. It was the multifamily market that shifted towards these conditions in 2018 and are very much that way to start 2019. Apartment listings are 2 to 3 times higher than they were in 2018 to start while the number of detached homes on the market is just slightly above where they were in January 2018, and in East Vancouver there were less detached homes on the market at the end of January 2019 compared to January 2018. With the total number of occupied households up 27 per cent since 2001, there are far few homes listed in comparison to the total number of homes available to be sold. Where 2019 will go from here will in part depend on the pace of listings that come on the market. As it stands now, there is a lack of real inventory on the market. Some of what is currently listed on the market are listings that are priced beyond current market values and some are listed as part of land assemblies. There is demand waiting to buy, but looking for the right property and the right price. With word of one detached house listing on Vancouver’s East Side this weekend having 49 offers on it (there were only 44 detached sales in all of January), it would appear buyers are there.


“REALTORS® are seeing more traffic at open houses compared to recent months, however buyers are choosing to remain in a holding pattern for the time being,” Phil Moore, Real Estate Board of Greater Vancouver president said. “Home prices have edged down across all home types in the region over the last seven months.”


In the Fraser Valley, there were 784 sales of all property types which was a 35.2 per cent decrease compared to January of last year and a 2 per cent decrease from December 2018. Of the 784 sales last month, 250 were residential detached homes, 190 were townhouses and 257 were apartments. This is the first time in the Board’s history that apartments have outsold residential detached homes during a month.


“This remains a challenging environment for buyers and sellers alike,” said John Barbisan, President of the Fraser Valley Real Estate Board. “Factors such as reduced buying power, changing expectations for pricing, and a recovering inventory are all having an impact.”


Sales and Listings Statistics for Houses Townhouses and Condos for January 2019


Sales and Listings Statistics for All Regional for January 2019


Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in January 2019 was 1,120 – down from 1,846 (39%) from January 2018, down from 1,553 (28%) in January 2017; Active Listings are at 11,427 compared to 7,371 at this time last year; New Listings in January 2018 were up 27% compared to January 2018; Month’s Supply of Total Residential Listings is at 10 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 22% compared to 47% in January 2018.


Vancouver Westside Residential: Total Units Sold in January 2019 was 187 – down from 313 (40%) from January 2018, down from 271 (31%) in January 2017; Active Listings are at 2,084 compared to 1,331 at this time last year; New Listings in January 2018 were up 21% compared to January 2018; Month’s Supply of Total Residential Listings is at 11 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 19% compared to 39% in January 2018.


Vancouver Eastside Residential: Total Units Sold in January 2019 was 105 – down from 137 (23%) from January 2018, down from 139 (24%) in January 2017; Active Listings are at 1,071 compared to 922 at this time last year; New Listings in January 2018 were up 16% compared to January 2018; Month’s Supply of Total Residential Listings is at 10 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 23% compared to 34% in January 2018.


North Vancouver Residential Total Units Sold in January 2019 was 91 – down from 132 (31%) from January 2018, down from 107 (15%) in January 2017; Active Listings are at 740 compared to 413 at this time last year; New Listings in January 2018 were up 47% compared to January 2018; Month’s Supply of Total Residential Listings is at 8 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 21% compared to 45% in January 2018.


West Vancouver Houses: Total Units Sold in January 2019 was 26 – down from 43 (40%) from January 2018, the same as January 2017; Active Listings are at 599 compared to 493 at this time last year; New Listings in January 2018 were up 21% compared to January 2018; Month’s Supply of Total Residential Listings is at 23 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 11% compared to 23% in January 2018.


Richmond Residential: Total Units Sold in January 2019 was 121 – down from 275 (56%) from January 2018, down from 225 (46%) in January 2017; Active Listings are at 1,696 compared to 1,104 at this time last year; New Listings in January 2018 were up 39% compared to January 2018; Month’s Supply of Total Residential Listings is at 14 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 16% compared to 50% in January 2018.


Burnaby East: Total Units Sold in January 2019 was 11 – down from 29 (62%) from January 2018, down from 18 (39%) in January 2017; Active Listings are at 119 compared to 114 at this time last year; New Listings in January 2018 were down 14% compared to January 2018; Month’s Supply of Total Residential Listings is at 11 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 20% compared to 45% in January 2018.


Burnaby North: Total Units Sold in January 2019 was 65 – down from 73 (11%) from January 2018, down from 72 (10%) in January 2017; Active Listings are at 483 compared to 264 at this time last year; New Listings in January 2018 were up 34% compared to January 2018; Month’s Supply of Total Residential Listings is at 7 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 30% compared to 45% in January 2018.


Burnaby South: Total Units Sold in January 2019 was 55 – down from 102 (46%) from January 2018, down from 86 (36%) in January 2017; Active Listings are at 657 compared to 361 at this time last year; New Listings in January 2018 were up 38% compared to January 2018; Month’s Supply of Total Residential Listings is at 12 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 20% compared to 50% in January 2018.

New Westminster: Total Units Sold in January 2019 was 75 – down from 96 (22%) from January 2018, up from 63 (19%) in January 2017; Active Listings are at 386 compared to 205 at this time last year; New Listings in January 2018 were up 26% compared to January 2018; Month’s Supply of Total Residential Listings is at 5 Month’s Supply (Balanced Market) and a Sales to Listings Ratio of 38% compared to 62% in January 2018.


Coquitlam: Total Units Sold in January 2019 was 87 – down from 156 (44%) from January 2018, down from 114 (24%) in January 2017; Active Listings are at 788 compared to 469 at this time last year; New Listings in January 2018 were up 39% compared to January 2018; Month’s Supply of Total Residential Listings is at 9 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 23% compared to 58% in January 2018.


Port Moody: Total Units Sold in January 2019 was 31 – down from 46 (33%) from January 2018, down from 43 (28%) in January 2017; Active Listings are at 165 compared to 100 at this time last year; New Listings in January 2018 were up 22% compared to January 2018; Month’s Supply of Total Residential Listings is at 5 Month’s Supply (Detached is a Buyer’s Market, Townhomes and Apartments a Balanced Market) and a Sales to Listings Ratio of 37% compared to 68% in January 2018.


Port Coquitlam: Total Units Sold in January 2019 was 38 – down from 58 (34%) from January 2018, down from 60 (37%) in January 2017; Active Listings are at 290 compared to 155 at this time last year; New Listings in January 2018 were up 35% compared to January 2018; Month’s Supply of Total Residential Listings is at 8 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 27% compared to 55% in January 2018.


Pitt Meadows: Total Units Sold in January 2019 was 10 – down from 18 (44%) from January 2018, down from 23 (57%) in January 2017; Active Listings are at 96 compared to 57 at this time last year; New Listings in January 2018 were up 25% compared to January 2018; Month’s Supply of Total Residential Listings is at 10 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 25% compared to 58% in January 2018.


Maple Ridge: Total Units Sold in January 2019 was 82 – down from 182 (54%) from January 2018, down from 100 (28%) in January 2017; Active Listings are at 602 compared to 343 at this time last year; New Listings in January 2018 were up 16% compared to January 2018; Month’s Supply of Total Residential Listings is at 7 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 32% compared to 84% in January 2018.


Ladner: Total Units Sold in January 2019 was 16 – down from 19 (16%) from January 2018, down from 18 (11%) in January 2017; Active Listings are at 143 compared to 102 at this time last year; New Listings in January 2018 were up 15% compared to January 2018; Month’s Supply of Total Residential Listings is at 9 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 26% compared to 35% in January 2018.


Tsawwassen: Total Units Sold in January 2019 was 14 – down from 16 (12%) from January 2018, down from 21 (33%) in January 2017; Active Listings are at 182 compared to 157 at this time last year; New Listings in January 2018 were up 18% compared to January 2018; Month’s Supply of Total Residential Listings is at 13 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 19% compared to 26% in January 2018.

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Sales and listings stats are attached as of January 14, 2019. Buyers needed! While sales are down from last year, new listings are up compared to last year at this time. Last January we were seeing the effects of a surge of buyers wanting to purchase prior to the Stress Test taking effect for them and their mortgage qualification. As a result, now we are coming out of the hangover of the last half of 2018 that saw home sales attacked from all sides including just plain old market fatigue. With 396 homes sold for the first half of January compared to 597 at the same time in January 2018 in Greater Vancouver, and 1,940 new listings at this time compared to 1,344 new listings up to January 14 2018, buyers are gaining more purchasing power as the days move on in 2019.  Activity levels at open houses has increased though, showing a potential for an earlier spring market then anticipated. And more inventory will help that even more. Having 10,000 active listings at this time of year is more towards the average compared to the below average available listing totals we’ve seen over the last 3 years. So perhaps the real estate market is about to stand up, or at least get up on its knees. Here is a summary of the activity so far in 2018:


Sales and Listings Statistics All Regional for January 14 2019


Sales and Listings Statistics Houses Townhouses and Condos for January 14 2019


Greater Vancouver – 396 Units Sold so far in January 2019 compared to 597 Units Sold so far at this time in January 2018. Total New Listings so far in January are 1,940 compared to 1,344 at this point in January 2018 and 1,540 at this point in January 2017. Total Active Listings are at 10,183 compared to 6,966 at this time last year. Sales To Listings Ratio is at 19% compared to 44% in January 2018.

Vancouver West -57 Units Sold so far in January 2019 compared to 103 Units Sold so far at this time in January 2018. Total New Listings so far in January are 367 compared to 280 at this point in January 2018  and 314 at this point in January 2017. Total Active Listings are at 1,804 compared to 1,175 at this time last year. Sales To Listings Ratio is at 16% compared to 37% in January 2018.

Vancouver East – 41 Units Sold so far in January 2019 compared to 44 Units Sold so far at this time in January 2018. Total New Listings so far in January are 193 compared to 140 at this point in January 2018 and 134 at this point in January 2017. Total Active Listings are at 968 compared to 830 at this time last year. Sales To Listings Ratio is at 21% compared to 31% in January 2018.

North Vancouver – 31 Units Sold so far in January 2019 compared to 46 Units Sold so far at this time in January 2018. Total New Listings so far in January are 151 compared to 95 at this point in January 2018 and 103 at this point in January 2017. Total Active Listings are at 604 compared to 358 at this time last year. Sales To Listings Ratio is at 21% compared to 48% in January 2018.

West Vancouver – 7 Units Sold so far in January 2019 compared to 14 Units Sold so far at this time in January 2018. Total New Listings so far in January are 91 compared to 59 at this point in January 2018 and 60 at this point in January 2017. Total Active Listings are at 544 compared to 456 at this time last year. Sales To Listings Ratio is at 8% compared to 24% in January 2018.

Richmond – 49 Units Sold so far in January 2019 compared to 98 Units Sold so far at this time in January 2018. Total New Listings so far in January are 293 compared to 205 at this point in January 2018 and 258 at this point in January 2017. Total Active Listings are at 1,460 compared to 1,055 at this time last year. Sales To Listings Ratio is at 17% compared to 48% in January 2018.

Burnaby East – 3 Units Sold so far in January 2019 compared to 13 Units Sold so far at this time in January 2018. Total New Listings so far in January are 22 compared to 18 at this point in January 2018. Total Active Listings are at 106 compared to 94 at this time last year. Sales To Listings Ratio is at 14% compared to 72% in January 2018.

Burnaby North – 22 Units Sold so far in January 2019 compared to 23 Units Sold so far at this time in January 2018. Total New Listings so far in January are 91 compared to 49 at this point in January 2018. Total Active Listings are at 441 compared to 236 at this time last year. Sales To Listings Ratio is at 24% compared to 47% in January 2018.

Burnaby South – 23 Units Sold so far in January 2019 compared to 36 Units Sold so far at this time in January 2018. Total New Listings so far in January are 105 compared to 72 at this point in January 2018. Total Active Listings are at 570 compared to 332 at this time last year. Sales To Listings Ratio is at 22% compared to 50% in January 2018.

New Westminster – 27 Units Sold so far in January 2019 compared to 28 Units Sold so far at this time in January 2018. Total New Listings so far in January are 75 compared to 58 at this point in January 2018. Total Active Listings are at 364 compared to 194 at this time last year. Sales To Listings Ratio is at 36% compared to 48% in January 2018.

Coquitlam – 17 Units Sold so far in January 2019 compared to 54 Units Sold so far at this time in January 2018. Total New Listings so far in January are 144 compared to 91 at this point in January 2018. Total Active Listings are at 726 compared to 448 at this time last year. Sales To Listings Ratio is at 12% compared to 59% in January 2018.

Port Moody – 10 Units Sold so far in January 2019 compared to 13 Units Sold so far at this time in January 2018. Total New Listings so far in January are 25 compared to 26 at this point in January 2018. Total Active Listings are at 145 compared to 101 at this time last year. Sales To Listings Ratio is at 40% compared to 48% in January 2018.

Port Coquitlam – 16 Units Sold so far in January 2019 compared to 18 Units Sold so far at this time in January 2018. Total New Listings so far in January are 67 compared to 28 at this point in January 2018. Total Active Listings are at 251 compared to 128 at this time last year. Sales To Listings Ratio is at 24% compared to 64% in January 2018.

Ladner – 1 Units Sold so far in January 2019 compared to 3 Units Sold so far at this time in January 2018. Total New Listings so far in January are 24 compared to 23 at this point in January 2018. Total Active Listings are at 132 compared to 102 at this time last year. Sales To Listings Ratio is at 4% compared to 13% in January 2018.

Tsawwassen – 2 Units Sold so far in January 2019 compared to 6 Units Sold so far at this time in January 2018. Total New Listings so far in January are 37 compared to 18 at this point in January 2018. Total Active Listings are at 175 compared to 137 at this time last year. Sales To Listings Ratio is at 5% compared to 33% in January 2018.

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As we reflect on 2018, it was certainly the year of intervention into the real estate market. What we thought was intervention in the previous two years, became a race this year to add as many variables as possible to “create affordability.”  Attached are the yearend 2018 Sales and Listings Stats in Greater Vancouver. There were 24,961 home sales in Greater Vancouver in 2018, the lowest annual amount of sales since the year 2000 at 21,940. There were 55,057 new listings in 2018 in Greater Vancouver, the lowest annual amount since 2009. Clearly the real estate market was in a wait and see mode last year. While we saw the detached home market continue to struggle – a trend that extended out to the suburbs, it was the townhome and apartment market that after a quick start, slowed down as the year progressed. Of the total sales in Greater Vancouver, 49 per cent were apartments which was down from 49 per cent in 2017 (up from 46 per cent in 2016 and 42 per cent in 2015), 17 per cent were townhouses similar to 2017 (up from 15 per cent in 2016 and the same at 17 per cent in 2015) and 32 percent were houses which was the same as 2017 (down from 36 per cent in 2016 and 41 per cent in 2015). While the detached housing market had already slowed down in 2017 and continued at these slower sales levels in 2018, the bulk of the drop in overall sales in Greater Vancouver in 2018 came from the townhouse and apartment market. Vancouver’s Westside continues to see 73 per cent of sales being apartments which accounted for a bigger drop overall in the Westside market. Month’s Supply of Inventory has moved up over the last year, finishing with most areas above 6 months, putting them in Buyer’s Market conditions. North Vancouver, Port Moody, Coquitlam and Port Coquitlam averaged 4 to 6 Months Supply of Townhouses and Apartments, fairing better than other areas. Affordability seemed to be the key to driving demand down as the year went on, not surprising given the new Federal Government Stress Test regulations put in place for lending to start 2018. More on that later.


In the Fraser Valley there were 15,586 sales in 2018, which was down 30.2 per cent from the record of 23,974 sales in 2016 and 22,338 sales in 2017. It was the lowest total sales in the Fraser Valley since 2013. Of the total sales, 3,866 were townhouses and 4,296 were apartments. Each of those property types saw a significant decrease in sales compared to 2017. Total townhouse sales dropped 25.6 per cent year over year and total apartments sales dropped 30.5 per cent year over year. In terms of inventory, there were a total of 32,058 new listings processed in the Fraser Valley in 2018. That was the fourth highest total for new inventory in the Board’s history.


Some highlights in market areas during 2017:


  • Total sales of Detached Houses in West Vancouver declined from 1074 in 2015 to 834 in 2016 to 509 sales in 2017 and 328 sales in 2018
  • Total sales of Detached Houses on Vancouver’s West Side declined from 2,031 in 2015, to 1,591 in 2016 to 1,058 in 2017 and 705 in 2018
  • Total sales for Greater Vancouver All Residential declined from 43,155 in 2015, to 40,880 in 2016, to 36,604 in 2017 and 25,051 in 2018. You could almost say the government was late to the party by intervening in 2018.


Just when we thought that government policy was heavy in the real estate market in 2016 and 2017, along came 2018. The year started with the implementation of the B 20 Mortgage Stress Test which now requires any mortgage with a down payment of 20 per cent or more to have the buyer qualify at the contract interest rate plus 2 per cent or the Bank of Canada Posted Rate (currently at 5.34 per cent). This was in place for insured mortgages with a down payment less than 20 per cent already. The effect was to essentially reduce the purchasing power of buyers by 20 per cent. That change had the single biggest impact on the real estate market in 2018, not just in Vancouver but across the country – more so the lower end of the market. Then in February the British Columbia government lead by the NDP introduced a host of measures in their budget aimed at controlling demand. Namely the Speculation and Vacancy Tax (SVT), an increase in School Taxes and the Property Transfer Tax for properties assessed at $3 Million and above and an increase in the Foreign Buyer Tax to 20%. Both the SVT and Foreign Buyer Tax applied to areas in Metro Vancouver, Kelowna, Greater Victoria, Kelowna, Nanaimo and the Fraser Valley – affecting the higher end of the market and vacation properties to a greater extent. Between the Federal and Provincial government, all areas of the real estate market were smothered by policy which decreased demand and more so created psychological uncertainty. Any time new policies are introduced, there is an adjust period as buyers and sellers try to out think the market. And guess what, sales and listings were at their lowest point in years.


What will the real estate market bring in 2019 in Metro Vancouver? Well, what we are seeing here is not much different that other cities not only in Canada but around the world. Both in terms of housing issues but also market conditions. Here’s an example of headlines from articles of late: “San Francisco adds 6,500 residents, 2,200 homes in 2018 – Department of finance says populations still growing despite housing crisis”; “Why are Seattle-area home prices falling now?”; “London Housing Market Suffers Sharp Price Falls”; “New York Has Moved Into a Buyer’s Market, and Is Experiencing A Housing Trend Last Seen in 2009.” Global capital is pulling back, properties are staying on the market longer, and global concerns make for nervous buyers – Trump, Brexit, resistance against foreign capital invading property markets in many global cities, and concern over capital restrictions in China. That’s just a quick summary, and there are many micro economic and political conditions that affect local markets. And of course, markets shift as a normal course, as prices climb too high, demand pulls back. Our real estate market is no different. Of course, there will be many predictions on where our real estate market will go – and as usual predictions of sharp and significant declines will come. With population growing at such high rates, the economy being strong, livability in the City of Vancouver, Metro Vancouver and the province, there are many factors that fly in the face of panic selling or an exodus from our location to bring about significant price declines. Changing markets with a dose of intervention, how could we expect the market to act any differently than it did in 2018.


While active listings at the start of January 2019 were 9,413 (6,733 in 2018, 6,221 in 2017, and 6,312 in 2016), they were actually higher at the start of each year prior to 2016 going back to 2009. And it can be argued that up to 20 per cent of the current listings on market form part of a land assembly and can’t really be counted. What will determine pricing going forward will in large part be based on how many listings come on market. The lack of inventory still being experienced is keeping the market relatively stuck and prices from decreasing any more than they have – and listings aren’t likely to increase dramatically to help ease affordability. After all, while talk of supply solutions from the government were discussed, we’ve yet to see the action. “When you’re thirsty, it’s too late to think about digging a well.” – Anonymous.  


Sales and Listings Statistics All Regional for December 2018


Sales and Listings Statistics Houses Townhouses and Condos for December 2018


Here is a summary of the numbers:

 

Greater Vancouver: Total Units Sold in December 2018 was 1,094 – down from 1,633 in November 2018; down from 2,069 in December 2017 and down from 1,743 in December 2016. Total Active Listings were at 10,907 at month end, up from 7,540 at the end of December 2017, Month’s Supply of Total Residential Listings is at 10 Months (Buyer’s Market) compared to 4 Months Supply at the end of 2017 and Sales to Listings Ratio was 75% in December 2018 compared to 106% in December 2017. Benchmark Price is down 2.7% (Detached homes down 7.8% and Apartments up 0.6%).


Vancouver Westside: Total Units Sold in December 2018 was 190 – down from 298 in November 2018; down from 315 in December 2017 and down from 324 in December 2016. Total Active Listings were at 1,947 at month end, up from 1,284 at the end of December 2017, Month’s Supply of Total Residential Listings is at 10 Months (Buyer’s Market) compared to 4 Months Supply at the end of 2017 and Sales to Listings Ratio was 73% in December 2018 compared to 97% in December 2017. Benchmark Price is down 5.8% (Detached homes down 11.8% and Apartments down 2.9%).


Vancouver Eastside: Total Units Sold in December 2018 was 113 – down from 181 in November 2018; down from 239 in December 2017 and down from 183 in December 2016. Total Active Listings were at 1,075 at month end, up from 927 at the end of December 2017, Month’s Supply of Total Residential Listings is at 10 Months (Buyer’s Market) compared to 4 Months Supply at the end of 2017 and Sales to Listings Ratio was 85% in December 2018 compared to 115% in December 2017. Benchmark Price is down 4.6% (Detached homes down 7.2% and Apartments down 1.4%).


North Vancouver: Total Units Sold in December 2018 was 99 – down from 139 in November 2018; down from 138 in December 2017 and down from 138 in December 2016. Total Active Listings were at 630 at month end, up from 393 at the end of December 2017, Month’s Supply of Total Residential Listings is at 6 Months (Buyer’s Market) compared to 2 Months Supply at the end of 2017 and Sales to Listings Ratio was 125% in December 2018 compared to 197% in December 2017. Benchmark Price is down 3.7% (Detached homes down 8.2% and Apartments down 0.3%).


West Vancouver: Total Units Sold in December 2018 was 30 – the same amount in November 2018; down from 44 in December 2017 and down from 44 in December 2016. Total Active Listings were at 579 at month end, up from 356 at the end of December 2017, Month’s Supply of Total Residential Listings is at 19 Months (Buyer’s Market) compared to 8 Months Supply at the end of 2017 and Sales to Listings Ratio was 47% in December 2018 compared to 80% in December 2017. Benchmark Price is down 12.2% (Detached homes down 13.5% and Apartments down 2.6%).


Richmond: Total Units Sold in December 2018 was 122 – down from 178 in November 2018; down from 287 in December 2017 and down from 235 in December 2016. Total Active Listings were at 1,597 at month end, up from 1,184 at the end of December 2017, Month’s Supply of Total Residential Listings is at 13 Months (Buyer’s Market) compared to 4 Months Supply at the end of 2017 and Sales to Listings Ratio was 61% in December 2018 compared to 95% in December 2017. Benchmark Price is down 2.8% (Detached homes down 9.2% and Apartments up 2.5%).


Burnaby East: Total Units Sold in December 2018 was 17 – the same as November 2018; down from 28 in December 2017 and down from 20 in December 2016. Total Active Listings were at 115 at month end, up from 106 at the end of December 2017, Month’s Supply of Total Residential Listings is at 7 Months (Buyer’s Market) compared to 4 Months Supply at the end of 2017 and Sales to Listings Ratio was 85% in December 2018 compared to 112% in December 2017. Benchmark Price is down 2.1% (Detached homes down 10.6% and Apartments up 1.9%).


Burnaby North Total Units Sold in December 2018 was 50 – down from 71 in November 2018; down from 99 in December 2017 and down from 85 in December 2016. Total Active Listings were at 463 at month end, up from 266 at the end of December 2017, Month’s Supply of Total Residential Listings is at 9 Months (Buyer’s Market) compared to 3 Months Supply at the end of 2017 and Sales to Listings Ratio was 63% in December 2018 compared to 99% in December 2017. Benchmark Price is down 1.6% (Detached homes down 8.2% and Apartments up 2.6%).


Burnaby South: Total Units Sold in December 2018 was 51 – down from 79 in November 2018; down from 109 in December 2017 and down from 73 in December 2016. Total Active Listings were at 627 at month end, up from 370 at the end of December 2017, Month’s Supply of Total Residential Listings is at 12 Months (Buyer’s Market) compared to 3 Months Supply at the end of 2017 and Sales to Listings Ratio was 50% in December 2018 compared to 96% in December 2017. Benchmark Price is down 1.6% (Detached homes down 6.6% and Apartments up 0.1%).


New Westminster: Total Units Sold in December 2018 was 58 – down from 87 in November 2018; down from 117 in December 2017 and down from 103 in December 2016. Total Active Listings were at 390 at month end, up from 187 at the end of December 2017, Month’s Supply of Total Residential Listings is at 7 Months (Buyer’s Market) compared to 2 Months Supply at the end of 2017 and Sales to Listings Ratio was 126% in December 2018 compared to 123% in December 2017. Benchmark Price is up 4.2% (Detached homes down 8.7% and Apartments up 7.4%).


Coquitlam: Total Units Sold in December 2018 was 89 – down from 135 in November 2018; down from 162 in December 2017 and down from 128 in December 2016. Total Active Listings were at 786 at month end, up from 487 at the end of December 2017, Month’s Supply of Total Residential Listings is at 9 Months (Buyer’s Market) compared to 3 Months Supply at the end of 2017 and Sales to Listings Ratio was 75% in December 2018 compared to 98% in December 2017. Benchmark Price is down 0.5% (Detached homes down 5.3% and Apartments up 3.2%).


Port Moody: Total Units Sold in December 2018 was 29 – down from 33 in November 2018; down from 38 in December 2017 and down from 41 in December 2016. Total Active Listings were at 169 at month end, up from 106 at the end of December 2017, Month’s Supply of Total Residential Listings is at 6 Months (Buyer’s Market) compared to 3 Months Supply at the end of 2017 and Sales to Listings Ratio was 181% in December 2018 compared to 106% in December 2017. Benchmark Price is down 0.2% (Detached homes down 1.1% and Apartments down 0.9%).


Port Coquitlam: Total Units Sold in December 2018 was 51 – down from 67 in November 2018; down from 71 in December 2017 and down from 59 in December 2016. Total Active Listings were at 259 at month end, up from 135 at the end of December 2017, Month’s Supply of Total Residential Listings is at 5 Months (Buyer’s Market) compared to 2 Months Supply at the end of 2017 and Sales to Listings Ratio was 128% in December 2018 compared to 109% in December 2017. Benchmark Price is down 0.7% (Detached homes down 4.9% and Apartments up 2.2%).


Ladner: Total Units Sold in December 2018 was 23 – up from 22 in November 2018; down from 26 in December 2017 and up from 21 in December 2016. Total Active Listings were at 143 at month end, up from 92 at the end of December 2017, Month’s Supply of Total Residential Listings is at 6 Months (Buyer’s Market) compared to 4 Months Supply at the end of 2017 and Sales to Listings Ratio was 164% in December 2018 compared to 163% in December 2017. Benchmark Price is down 2.8% (Detached homes down 6.3% and Apartments up 5.8%).


Tsawwassen: Total Units Sold in December 2018 was 13 – down from 17 in November 2018; the same as December 2017 and down from 15 in December 2016. Total Active Listings were at 171 at month end, up from 141 at the end of December 2017, Month’s Supply of Total Residential Listings is at 13 Months (Buyer’s Market) compared to 11 Months Supply at the end of 2017 and Sales to Listings Ratio was 100% in December 2018 compared to 100% in December 2017. Benchmark Price is down 4.4% (Detached homes down 7.0% and Apartments up 6.5%).

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Attached are the Sales and Listings Stats updated to the end of November 2018. What’s clear for 2018 so far, it is a year of change, in all things real estate and all things related to real estate.


There were 1,633 homes sold of all types in Greater Vancouver in November this year compared with 2,831 sales in November last year and 2,255 homes sold in November 2016. This was 35 per cent below the 10-year average for November and the lowest level of sales in November since 2008 which had 930 homes sold that month. The second lowest amount for November was 2012 which saw 1,733 sales. While we are seeing the active listings decline to close out 2018, buyers who recognize opportunities are engaging while others await what they feel is the right time to engage in buying or selling to make a move to another home. There is significant pent up demand building in the market as a result. There were 518 Detached Houses sold in November 2018 down from 846 (down 38 per cent) in November 2017 in Greater Vancouver, and down from 643 in November 2016. For townhouses there were 282 sales in November 2018 compared to 446 in November 2017 (down 36 per cent), down from 446 November 2016 and for condos there were 810 sales in November 2018, a decrease in sales from 1,508 in November 2017 (down 46 per cent) and compared to 1,508 in November 2016. Detached sales amounts were more consistent so far this fall compared to the fall of 2017, it is the townhouse and apartment market where we are seeing the more significant declines in sales volumes.


As for supply in the market, there was a decrease in the number of new listings in November compared to October this year and November of last year. There were 3,553 new listings in November in Greater Vancouver, down 29 per cent from October and down 16 per cent from November last year. The number of new listings in November 2018 were 4 per cent above the 10-year average for November. Active Listings are at 12,978 for month end (up 38 per cent compared to November 2017). Active Listings are staying mostly stagnant year over year for detached properties but are up for townhouse and apartments. The number of active listings for detached are up 9 per cent year over year in Greater Vancouver while townhouses are up 56 per cent and apartments are up 106 per cent year over year.


“Home buyers have been taking a wait-and-see approach for most of 2018. This has allowed the number of homes available for sale in the region to return to more typical historical levels,” Phil Moore, Real Estate Board of Greater Vancouver president said. “This activity is helping home prices edge down, across all property types, from the record highs we’ve experienced over the last year. Home prices have declined between four and seven per cent over the last six months depending on property type.”



East of the Fraser River, the Fraser Valley Real Estate Board processed 1,028 sales of all property types on its Multiple Listing Service® in November, a decrease of 41 per cent compared to 1,743 sales in November of last year, and a 11 per cent increase compared to sales in October 2018. Of the 1,028 sales processed last month 241 were townhouses and 286 were apartments and 383 were detached homes. “Lessening demand continues to impact our market significantly,” said John Barbisan, Board President. “In turn, that has given purchasing power back to buyers who now have more time and more options when it comes to making a decision.”


Sales and Listings Statistics Houses Townhouses and Apartments for November 2018


Sales and Listings Statistics All Regional for November 2018


Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in November 2018 was 1,633 – down from 1,995 (18%) in October 2018, down from 2,831 (42%) in November 2017, down from 2,255 (28%) in November 2016; Active Listings are at 12,978 compared to 9,369 (up 39%) at this time last year; New Listings in November 2018 were down 16% compared to November 2017 and up 10% compared to November 2016; Month’s Supply of Total Residential Listings is up to 8 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 46% compared to 67% in November 2017.


Vancouver Westside Residential: Total Units Sold in November 2018 was 298 – down from 381 (22%) in October 2018, down from 505 (41%) in November 2017, down from 408 (27%) in November 2016; Active Listings are at 2,361 compared to 1,607 (up 47%) at this time last year; New Listings in November 2018 were down 4% compared to November 2017 and up 22% compared to November 2016; Month’s Supply of Total Residential Listings is up to 8 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 43% compared to 69% in November 2017.


Vancouver Eastside Residential: Total Units Sold in November 2018 was 181 – down from 234 (23%) in October 2018, down from 315 (43%) in November 2017, down from 251 (28%) in November 2016; Active Listings are at 1,314 compared to 1,153 (up 14%) at this time last year; New Listings in November 2018 were down 26% compared to November 2017 and down 8% compared to November 2016; Month’s Supply of Total Residential Listings is up to 7 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 47% compared to 61% in November 2017.


North Vancouver Residential Total Units Sold in November 2018 was 139 – down from 173 (20%) in October 2018, down from 250 (45%) in November 2017, down from 173 (20%) in November 2016; Active Listings are at 854 compared to 595 (up 44%) at this time last year; New Listings in November 2018 were down 23% compared to November 2017 and up 32% compared to November 2016; Month’s Supply of Total Residential Listings is up to 6 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 48% compared to 66% in November 2017.


West Vancouver Houses: Total Units Sold in November 2018 was 30 – down from 55 (45%) in October 2018, down from 57 (47%) in November 2017, down from 44 (32%) in November 2016; Active Listings are at 705 compared to 626 (up 13%) at this time last year; New Listings in November 2018 were down 17% compared to November 2017 and up 29% compared to November 2016; Month’s Supply of Total Residential Listings is up to 24 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 21% compared to 33% in November 2017.


Richmond Residential: Total Units Sold in November 2018 was 178 – down from 230 (23%) in October 2018, down from 350 (49%) in November 2017, down from 262 (32%) in November 2016; Active Listings are at 1,809 compared to 1,419 (up 27%) at this time last year; New Listings in November 2018 were down 27% compared to November 2017 and up 7% compared to November 2016; Month’s Supply of Total Residential Listings is up to 10 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 39% compared to 56% in November 2017.


Burnaby East: Total Units Sold in November 2018 was 17 – the same as October 2018, down from 30 (33%) in November 2017, down from 30 (33%) in November 2016; Active Listings are at 142 compared to 129 (up 10%) at this time last year; New Listings in November 2018 were down 36% compared to November 2017 and down 13% compared to November 2016; Month’s Supply of Total Residential Listings is down to 8 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 50% compared to 57% in November 2017.


Burnaby North: Total Units Sold in November 2018 was 71 – down from 76 (7%) in October 2018, down from 144 (51%) in November 2017, down from 121 (41%) in November 2016; Active Listings are at 547 compared to 331 (up 71%) at this time last year; New Listings in November 2018 were down 10% compared to November 2017 and up 21% compared to November 2016; Month’s Supply of Total Residential Listings is up to 8 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 42% compared to 76% in November 2017.


Burnaby South: Total Units Sold in November 2018 was 79 – down from 87 (9%) in October 2018, down from 148 (47%) in November 2017, down from 98 (20%) in November 2016; Active Listings are at 688 compared to 454 (up 51%) at this time last year; New Listings in November 2018 were down 24% compared to November 2017 and up 19% compared to November 2016; Month’s Supply of Total Residential Listings is up to 9 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 42% compared to 21% in November 2017.


New Westminster: Total Units Sold in November 2018 was 87 – down from 88 (1%) in October 2018, down from 184 (53%) in November 2017, down from 97 (10%) in November 2016; Active Listings are at 491 compared to 257 (up 91%) at this time last year; New Listings in November 2018 were down 11% compared to November 2017 and up 16% compared to November 2016; Month’s Supply of Total Residential Listings is steady at 6 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 53% compared to 91% in November 2017.


Coquitlam: Total Units Sold in November 2018 was 135 – down from 136 (2%) in October 2018, down from 228 (41%) in November 2017, down from 174 (22%) in November 2016; Active Listings are at 935 compared to 606 (up 54%) at this time last year; New Listings in November 2018 were down 19% compared to November 2017 and up 13% compared to November 2016; Month’s Supply of Total Residential Listings is down to 7 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 51% compared to 71% in November 2017.


Port Moody: Total Units Sold in November 2018 was 33 – down from 36 (3%) in October 2018, down from 73 (55%) in November 2017, down from 38 (13%) in November 2016; Active Listings are at 219 compared to 139 (up 58%) at this time last year; New Listings in November 2018 were down 10% compared to November 2017 and the same compared to November 2016; Month’s Supply of Total Residential Listings is steady at 7 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 47% compared to 94% in November 2017.


Port Coquitlam: Total Units Sold in November 2018 was 67 – down from 75 (11%) in October 2018, down from 94 (20%) in November 2017, down from 96 (30%) in November 2016; Active Listings are at 335 compared to 168 (up 99%) at this time last year; New Listings in November 2018 were down 2% compared to November 2017 and up 39% compared to November 2016; Month’s Supply of Total Residential Listings is steady at 5 Month’s Supply (Balanced Market) and a Sales to Listings Ratio of 55% compared to 75% in November 2017.


Ladner: Total Units Sold in November 2018 was 22 – down from 30 (27%) in October 2018, down from 26 (15%) in November 2017, down from 27 (19%) in November 2016; Active Listings are at 177 compared to 127 (up 39%) at this time last year; New Listings in November 2018 were up 10% compared to November 2017 and up 7% compared to November 2016; Month’s Supply of Total Residential Listings is up to 8 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 50% compared to 65% in November 2017.


Tsawwassen: Total Units Sold in November 2018 was 17 – down from 25 (32%) in October 2018, down from 24 (29%) in November 2017, down from 30 (43%) in November 2016; Active Listings are at 219 compared to 174 (up 26%) at this time last year; New Listings in November 2018 were down 21% compared to November 2017 and down 34% compared to November 2016; Month’s Supply of Total Residential Listings is up to 13 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 45% compared to 50% in November 2017.

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"Scared is what you’re feeling. Brave is what you’re doing.” – Emma Donoghue

 

Sales and listings stats are attached as of November 18, 2018. Is it 2019 yet? With the year drawing to a close, activity levels both in sales and new listings are diminishing. As is typical, buyers and sellers start to focus more on the holidays then buying and selling real estate. What’s really happening is that these buyers and sellers are creating a growing surge of pent of demand. Like sales levels that were significantly above the average that eventually come off, lower than average sales levels create the next wave of activity in the market. With interest rates likely to hold for the remainder of 2018 and to start 2019, opportunity will favor buyers and those sellers looking to be active in the market while realizing the market has changed.


Sales and Listings Statistics for Houses, Townhouses and Condos as of November 18 2018


Sales and Listings Statistics for All Regional As of Nov 18 2018


Here is a summary of the activity so far:


Greater Vancouver –875 Units Sold so far in November 2018 compared to 1,626 Units Sold by November 19, 2017. Total New Listings so far in November are 2,115 compared to 2,550 by the same time last year. Total Active Listings are at 13,287 (9,491 at the same time in November 2017), Sales To Listings Ratio is at 41% compared to 64% at this time in November 2017.


Vancouver West - 154 Units Sold so far in November 2018 compared to 297 Units Sold by November 19, 2017. Total New Listings so far in November are 435 compared to 431 by the same time last year. Total Active Listings are at 2,440 (1,648 at the same time in November 2017), Sales To Listings Ratio is at 35% compared to 69% at this time in November 2017.


Vancouver East – 98 Units Sold so far in November 2018 compared to 176 Units Sold by November 19, 2017. Total New Listings so far in November are 232 compared to 315 by the same time last year. Total Active Listings are at 1,338 (1,153 at the same time in November 2017), Sales To Listings Ratio is at 42% compared to 56% at this time in November 2017.


North Vancouver – 78 Units Sold so far in November 2018 compared to 149 Units Sold by November 19, 2017. Total New Listings so far in November are 180 compared to 239 by the same time last year. Total Active Listings are at 911 (593 at the same time in November 2017), Sales To Listings Ratio is at 43% compared to 62% at this time in November 2017.


West Vancouver – 19 Units Sold so far in November 2018 compared to 34 Units Sold by November 19, 2017. Total New Listings so far in November are 87 compared to 103 by the same time last year. Total Active Listings are at 714 (627 at the same time in November 2017), Sales To Listings Ratio is at 22% compared to 33% at this time in November 2017.


Richmond – 92 Units Sold so far in November 2018 compared to 197 Units Sold by November 19, 2017. Total New Listings so far in November are 273 compared to 373 by the same time last year. Total Active Listings are at 1,831 (1,410 at the same time in November 2017), Sales To Listings Ratio is at 34% compared to 53% at this time in November 2017.


Burnaby East - 11 Units Sold so far in November 2018 compared to 15 Units Sold by November 19, 2017. Total New Listings so far in November are 17 compared to 32 by the same time last year. Total Active Listings are at 141 (130 at the same time in November 2017), Sales To Listings Ratio is at 65% compared to 47% at this time in November 2017.


Burnaby North - 38 Units Sold so far in November 2018 compared to 86 Units Sold by November 19, 2017. Total New Listings so far in November are 109 compared to 121 by the same time last year. Total Active Listings are at 566 (356 at the same time in November 2017), Sales To Listings Ratio is at 35% compared to 71% at this time in November 2017.


Burnaby South - 36 Units Sold so far in November 2018 compared to 79 Units Sold by November 19, 2017. Total New Listings so far in November are 108 compared to 151 by the same time last year. Total Active Listings are at 702 (466 at the same time in November 2017), Sales To Listings Ratio is at 33% compared to 52% at this time in November 2017.


New Westminster – 55 Units Sold so far in November 2018 compared to 104 Units Sold by November 19, 2017. Total New Listings so far in November are 87 compared to 114 by the same time last year. Total Active Listings are at 482 (261 at the same time in November 2017), Sales To Listings Ratio is at 63% compared to 91% at this time in November 2017.


Coquitlam - 69 Units Sold so far in November 2018 compared to 128 Units Sold by November 19, 2017. Total New Listings so far in November are 142 compared to 193 by the same time last year. Total Active Listings are at 962 (626 at the same time in November 2017), Sales To Listings Ratio is at 49% compared to 66% at this time in November 2017.


Port Moody - 15 Units Sold so far in November 2018 compared to 35 Units Sold by November 19, 2017. Total New Listings so far in November are 31 compared to 48 by the same time last year. Total Active Listings are at 220 (155 at the same time in November 2017), Sales To Listings Ratio is at 48% compared to 73% at this time in November 2017.


Port Coquitlam - 35 Units Sold so far in November 2018 compared to 55 Units Sold by November 19, 2017. Total New Listings so far in November are 85 compared to 67 by the same time last year. Total Active Listings are at 356 (163 at the same time in November 2017), Sales To Listings Ratio is at 41% compared to 82% at this time in November 2017.


Ladner – 21 Units Sold so far in November 2018 compared to 18 Units Sold by November 19, 2017. Total New Listings so far in November are 66 compared to 18 by the same time last year. Total Active Listings are at 187 (119 at the same time in November 2017), Sales To Listings Ratio is at 32% compared to 100% at this time in November 2017.


Tsawwassen - 9 Units Sold so far in November 2018 compared to 17 Units Sold by November 19, 2017. Total New Listings so far in November are 21 compared to 34 by the same time last year. Total Active Listings are at 223 (176 at the same time in November 2017), Sales To Listings Ratio is at 43% compared to 50% at this time in November 2017.

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"Life begins at the end of your comfort zone.” Neale Donald Walsch

 

Attached are the Sales and Listings Stats updated to the end of October 2018. Two things came in October – rain and a few more sales in the market. As is the case with October, activity does increases as do the number of new listings.


Sales and Listings Statistics for All Regional for October 2018


Sales and Listings Statistics for Houses, Townhouses and Condos for October 2018


There were 1,995 homes sold of all types in Greater Vancouver in October this year compared with 3,073 sales in October last year and 2,284 homes sold in October 2016. This was 27 per cent below the 10 year average for October and almost the same level as October 2012 at 1,979. In fact, when we look at 2012, so far, each month has tracked very similar for sales levels. With the main difference being the inventory levels. – much lower than in 2012. There continues to be a hesitation in the market right now While prices on the detached side of the market have been falling over the last year, we are now seeing this occur in the apartment and townhouse market in some areas and product types.  There were 642 Detached Houses sold in October 2018 down from 945 (down 38 per cent) in October 2017 in Greater Vancouver, and down from 659 in October 2016. For townhouses there were 344 sales in October 2018 compared to 550 in October 2017 (down 37 per cent), down from 403 October 2016 and for condos there were 985 sales in October 2018, a decrease in sales from 1,532 in October 2017 (down 36 per cent) and compared to 1,178 in September 2016. Overall there has been an increase in market activity for October compared to November as we typically see. Although the bigger increases in homes sold has been in Vancouver, North Vancouver and West Vancouver. Ladner actually saw less sales in October compared to September and areas like Burnaby, New Westminster and the Tri-Cities saw lower per centage gains in comparison. The average prices in those areas also dropped while Vancouver saw a gain.


As for supply in the market, there was an increase in the number of new listings in October compared to October of last year. There were 5,026 new listings in October in Greater Vancouver, up 8 per cent from October last year and up from 4,066 or 23 per cent from October 2016. The number of new listings in September 2018 were just above the 11 year average for September. Active Listings are at 13,682 for month end (up 36 per cent compared to October). Active Listings fell from 13,760 in September 2018 and will continue to do so as the year finishes. At the end of October 2012, the Active Listing count was 18,519 – 35 per cent higher than in today’s market. A significant difference from the last down market and indicative of strength in the market overall.


“The supply of homes for sale today is beginning to return to levels that we haven’t seen in our market in about four years,” Phil Moore, Real Estate Board of Greater Vancouver president said. “For home buyers, this means you have more selection to choose from. For sellers, it means your home may face more competition, from other listings, in the marketplace. Home prices have edged down between three and fiver per cent, depending on housing type, in our region since June. This is providing a little relief for those looking to buy compared to the all-time highs we’ve experienced over the last year.



East of the Fraser River, the Fraser Valley Real Estate Board processed 1,155 sales of all property types on its Multiple Listing Service® in October, a decrease of 36 per cent compared to 1,779 sales in October of last year, and a 12 per cent increase compared to sales in September 2018. Of the 1,155 sales processed last month 306 were townhouses and 292 were apartments and 438 were detached homes. While slight, this is the first time since May that sales here have been on the upswing,” said John Barbisan, Board President. “We’re beneath typical activity levels for this time of year but it’s good to see that buyers and sellers are still finding success this season.”


Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in October 2018 was 1,995 – up from 1,634 (22%) in September 2018, down from 3,073 (35%) in October 2017, down from 2,284 (13%) in October 2016; Active Listings are at 13,682 compared to 9,768 (up 40%) at this time last year; New Listings in October 2018 were up 8% compared to October 2017 and up 24% compared to October 2016; Month’s Supply of Total Residential Listings is down to 7 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 40% compared to 66% in October 2017.


Vancouver Westside Residential: Total Units Sold in October 2018 was 381 – up from 280 (36%) in September 2018, down from 556 (31%) in October 2017, down from 408 (7%) in October 2016; Active Listings are at 2,459 compared to 1,725 (up 43%) at this time last year; New Listings in October 2018 were up 10% compared to October 2017 and up 35% compared to October 2016; Month’s Supply of Total Residential Listings is down to 6 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 37% compared to 60% in October 2017.


Vancouver Eastside Residential: Total Units Sold in October 2018 was 234 – up from 195 (20%) in September 2018, down from 298 (21%) in October 2017, up from 202 (16%) in October 2016; Active Listings are at 1,409 compared to 1,168 (up 21%) at this time last year; New Listings in October 2018 were down 5% compared to October 2017 and up 6% compared to October 2016; Month’s Supply of Total Residential Listings is down to 6 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 44% compared to 54% in October 2017.


North Vancouver Residential Total Units Sold in October 2018 was 173 – up from 120 (44%) in September 2018, down from 250 (31%) in October 2017, up from 170 (2%) in October 2016; Active Listings are at 938 compared to 604 (up 55%) at this time last year; New Listings in October 2018 were up 15% compared to October 2017 and up 50% compared to October 2016; Month’s Supply of Total Residential Listings is down to 5 Month’s Supply (Balanced Market) and a Sales to Listings Ratio of 37% compared to 61% in October 2017.


West Vancouver Houses: Total Units Sold in October 2018 was 55 – up from 34 (62%) in September 2018, up from 46 (20%) in October 2017, up from 35 (57%) in October 2016; Active Listings are at 743 compared to 652 (up 14%) at this time last year; New Listings in October 2018 were up 6% compared to October 2017 and up 48% compared to October 2016; Month’s Supply of Total Residential Listings is down to 14 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 26% compared to 23% in October 2017.


Richmond Residential: Total Units Sold in October 2018 was 230 – up from 196 (17%) in September 2018, down from 411 (44%) in October 2017, down from 290 (20%) in October 2016; Active Listings are at 1,878 compared to 1,408 (up 33%) at this time last year; New Listings in October 2018 were down 6% compared to October 2017 and up 15% compared to October 2016; Month’s Supply of Total Residential Listings is down to 8 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 39% compared to 66% in October 2017.


Burnaby East: Total Units Sold in October 2018 was 17 – up from 11 (54%) in September 2018, down from 22 (45%) in October 2017, down from 22 (45%) in October 2016; Active Listings are at 148 compared to 127 (up 17%) at this time last year; New Listings in October 2018 were down 13% compared to October 2017 and up 8% compared to October 2016; Month’s Supply of Total Residential Listings is down to 9 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 33% compared to 37% in October 2017.


Burnaby North: Total Units Sold in October 2018 was 76 – down from 83 (8%) in September 2018, down from 161 (53%) in October 2017, down from 121 (40%) in October 2016; Active Listings are at 556 compared to 383 (up 45%) at this time last year; New Listings in October 2018 were up 28% compared to October 2017 and up 26% compared to October 2016; Month’s Supply of Total Residential Listings is down to 7 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 30% compared to 82% in October 2017.


Burnaby South: Total Units Sold in October 2018 was 87 – up from 82 (6%) in September 2018, down from 184 (53%) in October 2017, down from 103 (16%) in October 2016; Active Listings are at 693 compared to 450 (up 54%) at this time last year; New Listings in October 2018 were up 25% compared to October 2017 and up 57% compared to October 2016; Month’s Supply of Total Residential Listings is steady at 8 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 31% compared to 81% in October 2017.


New Westminster: Total Units Sold in October 2018 was 88 – up from 81 (9%) in September 2018, down from 152 (53%) in October 2017, down from 106 (17%) in October 2016; Active Listings are at 511 compared to 282 (up 81%) at this time last year; New Listings in October 2018 were up 22% compared to October 2017 and up 62% compared to October 2016; Month’s Supply of Total Residential Listings is steady at 6 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 36% compared to 77% in October 2017.


Coquitlam: Total Units Sold in October 2018 was 136 – up from 131 (4%) in September 2018, down from 248 (55%) in October 2017, down from 183 (26%) in October 2016; Active Listings are at 1,026 compared to 662 (up 55%) at this time last year; New Listings in October 2018 were up 9% compared to October 2017 and up 18% compared to October 2016; Month’s Supply of Total Residential Listings is steady at 8 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 37% compared to 73% in October 2017.


Port Moody: Total Units Sold in October 2018 was 36 – up from 34 (6%) in September 2018, down from 76 (53%) in October 2017, down from 65 (45%) in October 2016; Active Listings are at 242 compared to 160 (up 51%) at this time last year; New Listings in October 2018 were down 30% compared to October 2017 and down 20% compared to October 2016; Month’s Supply of Total Residential Listings is steady at 7 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 51% compared to 75% in October 2017.


Port Coquitlam: Total Units Sold in October 2018 was 75 – up from 73 (3%) in September 2018, down from 120 (37%) in October 2017, down from 93 (19%) in October 2016; Active Listings are at 357 compared to 170 (up 110%) at this time last year; New Listings in October 2018 were up 23% compared to October 2017 and up 9% compared to October 2016; Month’s Supply of Total Residential Listings is steady at 5 Month’s Supply (Balanced Market) and a Sales to Listings Ratio of 46% compared to 91% in October 2017.


Ladner: Total Units Sold in October 2018 was 21 – down from 30 (30%) in September 2018, down from 31 (33%) in October 2017, down from 27 (23%) in October 2016; Active Listings are at 187 compared to 121 (up 55%) at this time last year; New Listings in October 2018 were up 29% compared to October 2017 and down 3% compared to October 2016; Month’s Supply of Total Residential Listings is up to 9 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 32% compared to 61% in October 2017.


Tsawwassen: Total Units Sold in October 2018 was 25 – the same as September 2018, down from 40 (37%) in October 2017, up from 24 (24%) in October 2016; Active Listings are at 230 compared to 179 (up 28%) at this time last year; New Listings in October 2018 were up 6% compared to October 2017 and up 36% compared to October 2016; Month’s Supply of Total Residential Listings is down to 9 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 37% compared to 63% in October 2017.

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Sales and listings stats are attached as of October 14, 2018. Sales are so far ahead of September but below that of October last year at mid month. Not surprising again as this has been theme this year so far. Active listings dropped down after the end of September and are not accumulating as quickly as anticipated for the fall market. We are likely at the peak of the inventory for the fall, and should see if drop moving forward to finish 2018. The waiting game continues as sellers and buyers play a game of stale mate waiting to see who blinks first. Those participating in the market are actually realizing that opportunities are there. For buyers, this has been what they have been looking for over the last three years. And for sellers, pricing accurately creates opportunity. For most areas and product types we are in Buyer’s Market territory. As always, every product type and neighbourhood should be considered on its own merit.


Sales and Listings Statistics For Houses, Townhouses and Condos as of Oct 14 2018


Sales and Listings Statistics for All Regional as of October 14 2018


Here is a summary of the activity so far:


Greater Vancouver –898 Units Sold so far in October 2018 compared to 1,368 Units Sold by October 15, 2017. Total New Listings so far in October are 2,302 compared to 2,054 by the same time last year. Total Active Listings are at 13,604 (9,855 at the same time in October 2017), Sales To Listings Ratio is at 39% compared to 67% at this time in October 2017.


Vancouver West - 164 Units Sold so far in October 2018 compared to 255 Units Sold by October 15, 2017. Total New Listings so far in October are 459 compared to 441 by the same time last year. Total Active Listings are at 2,450 (1,747 at the same time in October 2017), Sales To Listings Ratio is at 36% compared to 58% at this time in October 2017.


Vancouver East – 107 Units Sold so far in October 2018 compared to 125 Units Sold by October 15, 2017. Total New Listings so far in October are 228 compared to 228 by the same time last year. Total Active Listings are at 1,431 (1,114 at the same time in October 2017), Sales To Listings Ratio is at 47% compared to 55% at this time in October 2017.


North Vancouver – 68 Units Sold so far in October 2018 compared to 104 Units Sold by October 15, 2017. Total New Listings so far in October are 219 compared to 189 by the same time last year. Total Active Listings are at 940 (619 at the same time in October 2017), Sales To Listings Ratio is at 31% compared to 55% at this time in October 2017.


West Vancouver – 24 Units Sold so far in October 2018 compared to 24 Units Sold by October 15, 2017. Total New Listings so far in October are 97 compared to 93 by the same time last year. Total Active Listings are at 748 (638 at the same time in October 2017), Sales To Listings Ratio is at 25% compared to 26% at this time in October 2017.


Richmond – 111 Units Sold so far in October 2018 compared to 195 Units Sold by October 15, 2017. Total New Listings so far in October are 270 compared to 287 by the same time last year. Total Active Listings are at 1,870 (1,415 at the same time in October 2017), Sales To Listings Ratio is at 41% compared to 68% at this time in October 2017.


Burnaby East - 11 Units Sold so far in October 2018 compared to 11 Units Sold by October 15, 2017. Total New Listings so far in October are 24 compared to 28 by the same time last year. Total Active Listings are at 140 (125 at the same time in October 2017), Sales To Listings Ratio is at 46% compared to 39% at this time in October 2017.


Burnaby North - 39 Units Sold so far in October 2018 compared to 71 Units Sold by October 15, 2017. Total New Listings so far in October are 107 compared to 77 by the same time last year. Total Active Listings are at 538 (392 at the same time in October 2017), Sales To Listings Ratio is at 36% compared to 92% at this time in October 2017.


Burnaby South - 35 Units Sold so far in October 2018 compared to 77 Units Sold by October 15, 2017. Total New Listings so far in October are 134 compared to 93 by the same time last year. Total Active Listings are at 671 (471 at the same time in October 2017), Sales To Listings Ratio is at 26% compared to 83% at this time in October 2017.


New Westminster - 43 Units Sold so far in October 2018 compared to 57 Units Sold by October 15, 2017. Total New Listings so far in October are 114 compared to 81 by the same time last year. Total Active Listings are at 480 (285 at the same time in October 2017), Sales To Listings Ratio is at 38% compared to 70% at this time in October 2017.


Coquitlam - 60 Units Sold so far in October 2018 compared to 108 Units Sold by October 15, 2017. Total New Listings so far in October are 170 compared to 147 by the same time last year. Total Active Listings are at 1,024 (676 at the same time in October 2017), Sales To Listings Ratio is at 35% compared to 73% at this time in October 2017.


Port Moody - 17 Units Sold so far in October 2018 compared to 37 Units Sold by October 15, 2017. Total New Listings so far in October are 26 compared to 46 by the same time last year. Total Active Listings are at 233 (157 at the same time in October 2017), Sales To Listings Ratio is at 65% compared to 80% at this time in October 2017.


Port Coquitlam - 39 Units Sold so far in October 2018 compared to 64 Units Sold by October 15, 2017. Total New Listings so far in October are 76 compared to 53 by the same time last year. Total Active Listings are at 345 (173 at the same time in October 2017), Sales To Listings Ratio is at 51% compared to 121% at this time in October 2017.


Ladner - 7 Units Sold so far in October 2018 compared to 13 Units Sold by October 15, 2017. Total New Listings so far in October are 26 compared to 18 by the same time last year. Total Active Listings are at 172 (118 at the same time in October 2017), Sales To Listings Ratio is at 27% compared to 72% at this time in October 2017.


Tsawwassen - 13 Units Sold so far in October 2018 compared to 15 Units Sold by October 15, 2017. Total New Listings so far in October are 25 compared to 29 by the same time last year. Total Active Listings are at 225 (188 at the same time in October 2017), Sales To Listings Ratio is at 52% compared to 52% at this time in October 2017..

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Attached are the Sales and Listings Stats updated to the end of September 2018. Buyer’s Market! Two words we haven’t seen throughout the market in Metro Vancouver since 2012 and 2013. While the detached housing market was seeing Buyer’s Market conditions over the last months, townhouses and apartments are slipping into those conditions now too.


There were 1,634 homes sold of all types in Greater Vancouver in September this year compared with 2,881 sales in September last year and 2,554 homes sold in September 2016. This was 36 per cent below the 10 year average for September and the lowest amount of sales in September since 2012 at 1,536. It’s a very stuck market right now with both sellers and buyers waiting to see who is going to blink first. And with active listings well below the last two buyer’s markets, so far there has been little blinking.  There were 509 Detached Houses sold in September 2018 down from 865 (down 41 per cent) in September 2017 in Greater Vancouver, and down from 672 in September 2016. For townhouses there were 275 sales in September 2018 compared to 518 in September 2017 (down 47 per cent), down from 370 September 2016 and for condos there were 812 sales in September 2018, a decrease in sales from 1,451 in September 2017 (down 46 per cent) and compared to 1,219 in September 2016. The attached market has slowed considerably over the summer and into September.


As for supply in the market, there was a decrease in the amount of new listings in September compared to September of last year. There were 5,365 new listings in September in Greater Vancouver, down 2 per cent from September last year but up from 4,947 or 8 per cent from September 2016. The amount of new listings in September 2018 were just above the 10 year average for September. Active Listings are at 13,760 for month end (up 36 per cent compared to September). In looking back at the last two Buyer’s Markets in Greater Vancouver, in September 2013 there were 17,157 active listings, in 2012 there were 19,278 active listings and in 2008 there were 20,590 active listings. So there are far fewer listings in today’s market, with likely 10 to 15 per cent of those listings properties being sold as single detached homes that are part of land assemblies. And with the stock of single detached homes dwindling across the region, price corrections may be somewhat limited. At some point, activity will return and buyers take advantage of the new prices, confidence returns and the dynamics of financing allow for those on the sidelines to come in and enjoy more inventory of all types of homes. By the end of the year there will be more active listings, but not at the levels of previous buyer’s markets.


“Fewer home sales are allowing listings to accumulate and prices to ease across the Metro Vancouver housing market,” Ashley Smith, Real Estate Board of Greater Vancouver president-elect said. “There’s more selection for home buyers to choose from today. Since spring, home listing totals have risen to levels we haven’t seen in our market in four years.”



East of the Fraser River, the Fraser Valley Real Estate Board processed 1,035 sales of all property types on its Multiple Listing Service® in September, a decrease of 36.1 per cent compared to 1,619 sales in September of last year, and a 10.4 per cent decrease compared to sales in August 2018. Of the 1,035 sales processed last month 250 were townhouses and 274 were apartments and 376 were detached homes. This was the lowest amount of sales for each category in 2018. Active inventory for the Fraser Valley finished at 7,647, increasing 4.2 per cent month-over-month and 30.6 per cent when compared to September 2017. “Buyer remain reluctant as the market continues to adjust,” said John Barbisan, Board President. “We’re seeing good things happening in terms of inventory, but it only opens the door so much while prices are moving at a much slower rate.”


Sales and Listings Statistics All Regional for September 2018


Sales and Listings Statistics Houses Townhouses Condos for September 2018


Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in September 2018 was 1,634 – down from 1,961 (17%) in August 2018, down from 2,881 (43%) in September 2017, down from 2,304 (29%) in September 2016; Active Listings are at 13,760 compared to 10,122 (up 36%) at this time last year; New Listings in September 2018 were down 2% compared to September 2017 and up 8% compared to September 2016; Month’s Supply of Total Residential Listings is up to 8 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 30% compared to 53% in September 2017.


Vancouver Westside Residential: Total Units Sold in September 2018 was 280 – down from 371 (25%) in August 2018, down from 540 (48%) in September 2017, down from 426 (36%) in September 2016; Active Listings are at 2,433 compared to 1,744 (up 40%) at this time last year; New Listings in September 2018 were down 2% compared to September 2017 and up 8% compared to September 2016; Month’s Supply of Total Residential Listings is up to 9 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 27% compared to 51% in September 2017.


Vancouver Eastside Residential: Total Units Sold in September 2018 was 195 – up from 191 (2%) in August 2018, down from 268 (27%) in September 2017, down from 200 (2%) in September 2016; Active Listings are at 1,494 compared to 1,107 (up 37%) at this time last year; New Listings in September 2018 were down 8% compared to September 2017 and up 10% compared to September 2016; Month’s Supply of Total Residential Listings is up to 8 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 32% compared to 47% in September 2017.


North Vancouver Residential Total Units Sold in September 2018 was 120 – down from 131 (8%) in August 2018, down from 210 (43%) in September 2017, down from 182 (34%) in September 2016; Active Listings are at 933 compared to 600 (up 56%) at this time last year; New Listings in September 2018 were up 15% compared to September 2017 and up 22% compared to September 2016; Month’s Supply of Total Residential Listings is up to 8 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 22% compared to 45% in September 2017.


West Vancouver Houses: Total Units Sold in September 2018 was 34 – down from 46 (26%) in August 2018, down from 56 (39%) in September 2017, down from 39 (13%) in September 2016; Active Listings are at 764 compared to 636 (up 20%) at this time last year; New Listings in September 2018 were down 15% compared to September 2017 and up 15% compared to September 2016; Month’s Supply of Total Residential Listings is up to 22 Month’s Supply (Extreme Buyer’s Market) and a Sales to Listings Ratio of 14% compared to 20% in September 2017.


Richmond Residential: Total Units Sold in September 2018 was 196 – down from 266 (26%) in August 2018, down from 379 (48%) in September 2017, down from 269 (27%) in September 2016; Active Listings are at 1,915 compared to 1,482 (up 29%) at this time last year; New Listings in September 2018 were down 8% compared to September 2017 and up 17% compared to September 2016; Month’s Supply of Total Residential Listings is up to 10 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 30% compared to 53% in September 2017.


Burnaby East: Total Units Sold in September 2018 was 11 – down from 21 (48%) in August 2018, down from 30 (63%) in September 2017, down from 20 (45%) in September 2016; Active Listings are at 140 compared to 124 (up 13%) at this time last year; New Listings in September 2018 were down 15% compared to September 2017 and down 2% compared to September 2016; Month’s Supply of Total Residential Listings is up to 13 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 21% compared to 46% in September 2017.


Burnaby North: Total Units Sold in September 2018 was 83 – up from 82 (1%) in August 2018, down from 129 (36%) in September 2017, down from 116 (28%) in September 2016; Active Listings are at 533 compared to 426 (up 25%) at this time last year; New Listings in September 2018 were down 8% compared to September 2017 and up 14% compared to September 2016; Month’s Supply of Total Residential Listings is up to 6 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 34% compared to 48% in September 2017.


Burnaby South: Total Units Sold in September 2018 was 82 – down from 94 (13%) in August 2018, down from 164 (50%) in September 2017, down from 120 (32%) in September 2016; Active Listings are at 656 compared to 520 (up 26%) at this time last year; New Listings in September 2018 were down 21% compared to September 2017 and up 3% compared to September 2016; Month’s Supply of Total Residential Listings is up to 8 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 34% compared to 53% in September 2017.


New Westminster: Total Units Sold in September 2018 was 81 – down from 90 (10%) in August 2018, down from 155 (48%) in September 2017, down from 115 (30%) in September 2016; Active Listings are at 460 compared to 289 (up 59%) at this time last year; New Listings in September 2018 were down 6% compared to September 2017 and up 40% compared to September 2016; Month’s Supply of Total Residential Listings is up to 6 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 33% compared to 60% in September 2017.


Coquitlam: Total Units Sold in September 2018 was 131 – down from 183 (28%) in August 2018, down from 230 (43%) in September 2017, down from 165 (21%) in September 2016; Active Listings are at 1,056 compared to 698 (up 51%) at this time last year; New Listings in September 2018 were up 3% compared to September 2017 and up 24% compared to September 2016; Month’s Supply of Total Residential Listings is up to 8 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 29% compared to 52% in September 2017.


Port Moody: Total Units Sold in September 2018 was 34 – up from 29 (17%) in August 2018, down from 55 (38%) in September 2017, down from 59 (42%) in September 2016; Active Listings are at 245 compared to 170 (up 44%) at this time last year; New Listings in September 2018 were down 3% compared to September 2017 and up 3% compared to September 2016; Month’s Supply of Total Residential Listings is up to 7 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 29% compared to 46% in September 2017.


Port Coquitlam: Total Units Sold in September 2018 was 73 – down from 72 (1%) in August 2018, down from 124 (41%) in September 2017, down from 99 (26%) in September 2016; Active Listings are at 345 compared to 201 (up 72%) at this time last year; New Listings in September 2018 were up 3% compared to September 2017 and down 15% compared to September 2016; Month’s Supply of Total Residential Listings is up to 5 Month’s Supply (Balanced Market) and a Sales to Listings Ratio of 45% compared to 78% in September 2017.


Ladner: Total Units Sold in September 2018 was 30 – down from 23 (30%) in August 2018, flat at 23 in September 2017, down from 31 (3%) in September 2016; Active Listings are at 177 compared to 123 (up 44%) at this time last year; New Listings in September 2018 were down 32% compared to September 2017 and up 49% compared to September 2016; Month’s Supply of Total Residential Listings is up to 6 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 38% compared to 38% in September 2017.


Tsawwassen: Total Units Sold in September 2018 was 25 – down from 25 in August 2018, down from 33 (24%) in September 2017, up from 18 (39%) in September 2016; Active Listings are at 242 compared to 196 (up 23%) at this time last year; New Listings in September 2018 were down 5% compared to September 2017 and up 21% compared to September 2016; Month’s Supply of Total Residential Listings is up to 10 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 30% compared to 38% in September 2017.

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“Do not wait to strike till iron is hot; but make it hot by striking.” W.B. Yeats

 

Sales and listings stats are attached as of September 16, 2018. It can only get better! The night is darker before the dawn, always look on the bright side of life! It’s all been said before, and after a slower than average summer in terms of sales, and a slower than average start in September, it’s clear the real estate market in Greater Vancouver is not what it’s been over the last two to three years. Sales in Greater Vancouver are down 47 per cent compared to the same time in September of last year, while new listings are down 2 per cent. Sales in Vancouver’s Westside are down 57 per cent compared to September last year at this time while new listings are down 11 per cent. It seems the market is a little more stuck both in terms of sales and listings, keeping inventories in check for the most part. So buyers are benefitting from some inventories increases, but are benefitting more from the lack of competition. Making for opportunities that haven’t been seen since 2012 and 2013.


Sales and Listings Statistics All Regional for Sept 17 2018


Sales and Listings Statistic Houses Townhouses and Condos for Sept 17 2018


Here is a summary of the activity so far:


Greater Vancouver –717 Units Sold so far in September 2018 compared to 1,361 Units Sold at this time in September 2017. Total New Listings so far in September are 2,918 compared to 2,988 at this time in September 2017. Total Active Listings are at 13,242 (9,968 at the same time in September 2017), Sales To Listings Ratio is at 25% compared to 46% at this time in September 2017.


Vancouver West - 117 Units Sold so far in September 2018 compared to 271 Units Sold at this time in September 2017. Total New Listings so far in September are 544 compared to 607 at this time in September 2017. Total Active Listings are at 2,291 (1,724 at the same time in September 2017), Sales To Listings Ratio is at 22% compared to 45% at this time in September 2017.


Vancouver East – 82 Units Sold so far in September 2018 compared to 110 Units Sold at this time in September 2017. Total New Listings so far in September are 337 compared to 311 at this time in September 2017. Total Active Listings are at 1,448 (1,123 at the same time in September 2017), Sales To Listings Ratio is at 24% compared to 35% at this time in September 2017.


North Vancouver – 61 Units Sold so far in September 2018 compared to 91 Units Sold at this time in September 2017. Total New Listings so far in September are 286 compared to 256 at this time in September 2017. Total Active Listings are at 825 (563 at the same time in September 2017), Sales To Listings Ratio is at 21% compared to 36% at this time in September 2017.


West Vancouver – 11 Units Sold so far in September 2018 compared to 19 Units Sold at this time in September 2017. Total New Listings so far in September are 148 compared to 162 at this time in September 2017. Total Active Listings are at 752 (621 at the same time in September 2017), Sales To Listings Ratio is at 7% compared to 12% at this time in September 2017.


Richmond – 85 Units Sold so far in September 2018 compared to 195 Units Sold at this time in September 2017. Total New Listings so far in September are 358 compared to 381 at this time in September 2017. Total Active Listings are at 1,864 (1,442 at the same time in September 2017), Sales To Listings Ratio is at 24% compared to 51% at this time in September 2017.


Burnaby East - 3 Units Sold so far in September 2018 compared to 14 Units Sold at this time in September 2017. Total New Listings so far in September are 28 compared to 35 at this time in September 2017. Total Active Listings are at 134 (119 at the same time in September 2017), Sales To Listings Ratio is at 11% compared to 40% at this time in September 2017.


Burnaby North - 33 Units Sold so far in September 2018 compared to 56 Units Sold at this time in September 2017. Total New Listings so far in September are 137 compared to 146 at this time in September 2017. Total Active Listings are at 519 (409 at the same time in September 2017), Sales To Listings Ratio is at 24% compared to 38% at this time in September 2017.


Burnaby South - 45 Units Sold so far in September 2018 compared to 87 Units Sold at this time in September 2017. Total New Listings so far in September are 121 compared to 151 at this time in September 2017. Total Active Listings are at 619 (499 at the same time in September 2017), Sales To Listings Ratio is at 37% compared to 58% at this time in September 2017.


New Westminster - 35 Units Sold so far in September 2018 compared to 66 Units Sold at this time in September 2017. Total New Listings so far in September are 122 compared to 118 at this time in September 2017. Total Active Listings are at 425 (271 at the same time in September 2017), Sales To Listings Ratio is at 29% compared to 56% at this time in September 2017.


Coquitlam - 65 Units Sold so far in September 2018 compared to 102 Units Sold at this time in September 2017. Total New Listings so far in September are 243 compared to 243 at this time in September 2017. Total Active Listings are at 1,009 (687 at the same time in September 2017), Sales To Listings Ratio is at 27% compared to 42% at this time in September 2017.


Port Moody - 14 Units Sold so far in September 2018 compared to 16 Units Sold at this time in September 2017. Total New Listings so far in September are 58 compared to 69 at this time in September 2017. Total Active Listings are at 221 (178 at the same time in September 2017), Sales To Listings Ratio is at 24% compared to 23% at this time in September 2017.


Port Coquitlam - 36 Units Sold so far in September 2018 compared to 64 Units Sold at this time in September 2017. Total New Listings so far in September are 87 compared to 83 at this time in September 2017. Total Active Listings are at 335 (204 at the same time in September 2017), Sales To Listings Ratio is at 41% compared to 77% at this time in September 2017.


Ladner - 36 Units Sold so far in September 2018 compared to 8 Units Sold at this time in September 2017. Total New Listings so far in September are 87 compared to 41 at this time in September 2017. Total Active Listings are at 335 (125 at the same time in September 2017), Sales To Listings Ratio is at 41% compared to 20% at this time in September 2017.


Tsawwassen - 36 Units Sold so far in September 2018 compared to 12 Units Sold at this time in September 2017. Total New Listings so far in September are 87 compared to 46 at this time in September 2017. Total Active Listings are at 335 (187 at the same time in September 2017), Sales To Listings Ratio is at 41% compared to 26% at this time in September 2017.

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Attached are the Sales and Listings Stats updated to the end of August 2018. Schools back, but will the real estate market be back in September? It certainly wasn’t a summer to remember in the market leaving many to try and predict what will happen next and many more trying to offer advice as to why we’ve arrived at the point we have.


There were 1,961 homes sold of all types in Greater Vancouver in August this year compared with 3,097 sales in August last year and 2,554 homes sold in August 2016 (the first month of the Foreign Buyer Tax). This was 25 per cent below the 10 year average for August and the lowest amount of sales in August since 2012 at 1,670. In fact, 2018 is looking very similar to 2012 and 2013 in terms of sales, two years of a slight correction in the market. Except those years didn’t see the same amount of government influence as we are seeing now. The detached market continues its tepid pace, and the townhouse and condo market cooled off as well brining summer of sun and less sales.  There were 575 Detached Houses sold in August 2018 down from 906 (down 36 per cent) in August 2017 in Greater Vancouver, and down from 645 in July 2018. For townhouses there were 354 sales in August 2018 compared to 529 in August 2017 (down 30 per cent), down from 354 in July 2018 and for condos there were 1,025 sales in August 2018, a decrease in sales from 1,613 in August 2017 (down 36 per cent) and compared to 1,079 in July 2018.


As for supply in the market, there was a decrease in the amount of new listings in August compared to last month. There were 3,972 new listings in July in Greater Vancouver, down 9 per cent from August last year and down 10 per cent from August 2016. The amount of new listings in August 2018 were 8 per cent below the 10 year average for August. Active Listings are at 12,519 for month end (up 29 per cent compared to August 2017 but down 3 per cent compared to July 2018). The trend for September will be a rise in listings as the fall market kicks in, but how much of an increase in new listings will impact demand and prices as supply will work towards easing pressure on prices. But this would need to be a significant increase in supply, something not likely to happen given the behaviour we’ve seen from the market and sellers so far in 2018.


“Home buyers have been less active in recent months and we’re beginning to see prices edge down for all housing types as a result,” Phil Moore, Real Estate Board of Greater Vancouver president said. “Buyers today have more listings to choose from and face less competition than we’ve seen in our market in recent years,” Moore said. “With fewer buyers active in the market, benchmark prices across all three housing categories have declined for two consecutive months across the region.”



East of the Fraser River, the Fraser Valley Real Estate Board processed 1,155 sales of all property types on its Multiple Listing Service® in August, a decrease of 38.5 per cent compared to 1,879 sales in August of last year, and a 10.5 per cent decrease compared to the 1,290 sales in July 2018. Of the 1,155 sales processed last month 294 were townhouses and 318 were apartments, together representing 50 per cent of all transactions in August.  Active inventory for the Fraser Valley finished at 7,339, decreasing 0.8 per cent month-over-month and 28.5 per cent when compared to August 2017. “Our market continues to open up the further we get into the year, and that means you can make more considered, informed decisions if you’re looking to jump in,” said John Barbisan, Board President. “With demand slowing down and prices staying put, both buyers and sellers can expect to see an easing of competition with less multiple offer situations.”


 Sales and Listings Statistics All Regional for August 2018


Sales and Listings Statistics Houses Townhouses Condos for August 2018


Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in August 2018 was 1,961 – down from 2,108 (7%) in July 2018, down from 3,097 (37%) in August 2017, down from 2,554 (23%) in August 2016; Active Listings are at 12,519 compared to 9,470 (up 32%) at this time last year; New Listings in August 2018 were down 9% compared to August 2017 and down 14% compared to August 2016; Month’s Supply of Total Residential Listings is steady at 6 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 49% compared to 71% in August 2017.


Vancouver Westside Residential: Total Units Sold in August 2018 was 371 – down from 403 (8%) in July 2018, down from 516 (28%) in August 2017, down from 452 (18%) in August 2016; Active Listings are at 2,158 compared to 1,596 (up 35%) at this time last year; New Listings in August 2018 were down 4% compared to August 2017 and down 8% compared to August 2016; Month’s Supply of Total Residential Listings is steady at 6 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 51% compared to 69% in August 2017.


Vancouver Eastside Residential: Total Units Sold in August 2018 was 191 – down from 227 (16%) in July 2018, down from 288 (34%) in August 2017, down from 218 (12%) in August 2016; Active Listings are at 1,326 compared to 1,070 (up 24%) at this time last year; New Listings in August 2018 were down 5% compared to August 2017 and down 15% compared to August 2016; Month’s Supply of Total Residential Listings is up to 7 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 48% compared to 69% in August 2017.


North Vancouver Residential Total Units Sold in August 2018 was 131 – down from 153 (14%) in July 2018, down from 217 (40%) in August 2017, down from 161 (19%) in August 2016; Active Listings are at 739 compared to 472 (up 57%) at this time last year; New Listings in August 2018 were down 3% compared to August 2017 and down 6% compared to August 2016; Month’s Supply of Total Residential Listings is up to 6 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 51% compared to 82% in August 2017.


West Vancouver Houses: Total Units Sold in August 2018 was 46 – down from 57 (19%) in July 2018, down from 50 (8%) in August 2017, down from 57 (19%) in August 2016; Active Listings are at 716 compared to 575 (up 26%) at this time last year; New Listings in August 2018 were up 4% compared to August 2017 and up 21% compared to August 2016; Month’s Supply of Total Residential Listings is up to 16 Month’s Supply (Extreme Buyer’s Market with Detached) and a Sales to Listings Ratio of 32% compared to 37% in August 2017.


Richmond Residential: Total Units Sold in August 2018 was 266 – down from 284 (6%) in July 2018, down from 454 (41%) in August 2017, down from 324 (18%) in August 2016; Active Listings are at 1,785 compared to 1,422 (up 25%) at this time last year; New Listings in August 2018 were down 16% compared to August 2017 and down 3% compared to August 2016; Month’s Supply of Total Residential Listings is up to 7 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 47% compared to 67% in August 2017.


Burnaby East: Total Units Sold in August 2018 was 21 – flat compared to 21 in July 2018, down from 30 (30%) in August 2017, flat compared to 21 in August 2016; Active Listings are at 126 compared to 112 (up 13%) at this time last year; New Listings in August 2018 were down 33% compared to August 2017 and down 18% compared to August 2016; Month’s Supply of Total Residential Listings is down to 6 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 55% compared to 53% in August 2017.


Burnaby North: Total Units Sold in August 2018 was 82 – down from 88 (7%) in July 2018, down from 166 (51%) in August 2017, down from 125 (34%) in August 2016; Active Listings are at 482 compared to 370 (up 22%) at this time last year; New Listings in August 2018 were down 9% compared to August 2017 and down 22% compared to August 2016; Month’s Supply of Total Residential Listings is up to 6 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 44% compared to 81% in August 2017.


Burnaby South: Total Units Sold in August 2018 was 94 – up from 76 (24%) in July 2018, down from 168 (44%) in August 2017, down from 127 (26%) in August 2016; Active Listings are at 614 compared to 487 (up 26%) at this time last year; New Listings in August 2018 were down 23% compared to August 2017 and down 24% compared to August 2016; Month’s Supply of Total Residential Listings is down to 7 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 46% compared to 64% in August 2017.


New Westminster: Total Units Sold in August 2018 was 90 – down from 114 (21%) in July 2018, down from 170 (37%) in August 2017, down from 122 (26%) in August 2016; Active Listings are at 382 compared to 249 (up 53%) at this time last year; New Listings in August 2018 were down 29% compared to August 2017 and up 2% compared to August 2016; Month’s Supply of Total Residential Listings is up to 4 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 56% compared to 83% in August 2017.


Coquitlam: Total Units Sold in August 2018 was 183 – down from 150 (22%) in July 2018, down from 249 (27%) in August 2017, down from 199 (8%) in August 2016; Active Listings are at 971 compared to 639 (up 52%) at this time last year; New Listings in August 2018 were down 4% compared to August 2017 and up 10% compared to August 2016; Month’s Supply of Total Residential Listings is down to 5 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 50% compared to 65% in August 2017.


Port Moody: Total Units Sold in August 2018 was 29 – down from 52 (46%) in July 2018, down from 67 (57%) in August 2017, down from 64 (55%) in August 2016; Active Listings are at 201 compared to 141 (up 43%) at this time last year; New Listings in August 2018 were down 37% compared to August 2017 and down 42% compared to August 2016; Month’s Supply of Total Residential Listings is up to 7 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 52% compared to 84% in August 2017.


Port Coquitlam: Total Units Sold in August 2018 was 72 – down from 84 (14%) in July 2018, down from 115 (38%) in August 2017, down from 91 (21%) in August 2016; Active Listings are at 336 compared to 205 (up 64%) at this time last year; New Listings in August 2018 were down 14% compared to August 2017 and down 24% compared to August 2016; Month’s Supply of Total Residential Listings is up to 5 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 49% compared to 64% in August 2017.


Ladner: Total Units Sold in August 2018 was 23 – down from 29 (21%) in July 2018, down from 40 (42%) in August 2017, up from 19 (21%) in August 2016; Active Listings are at 168 compared to 110 (up 53%) at this time last year; New Listings in August 2018 were up 28% compared to August 2017 and down 26% compared to August 2016; Month’s Supply of Total Residential Listings is up to 7 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 50% compared to 111% in August 2017.


Tsawwassen: Total Units Sold in August 2018 was 25 – up from 23 (8%) in July 2018, down from 40 (42%) in August 2017, up from 24 (4%) in August 2016; Active Listings are at 227 compared to 173 (up 31%) at this time last year; New Listings in August 2018 were down 18% compared to August 2017 and down 32% compared to August 2016; Month’s Supply of Total Residential Listings is down to 9 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 56% compared to 73% in August 2017.

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Attached are the Sales and Listings Stats updated to the end of August 2018. Schools back, but will the real estate market be back in September? It certainly wasn’t a summer to remember in the market leaving many to try and predict what will happen next and many more trying to offer advice as to why we’ve arrived at the point we have.


Sales and Listings Statistics All Regional for August 2018


Sales and Listings Statistics Houses Townhouses Condos for August 2018


There were 1,961 homes sold of all types in Greater Vancouver in August this year compared with 3,097 sales in August last year and 2,554 homes sold in August 2016 (the first month of the Foreign Buyer Tax). This was 25 per cent below the 10 year average for August and the lowest amount of sales in August since 2012 at 1,670. In fact, 2018 is looking very similar to 2012 and 2013 in terms of sales, two years of a slight correction in the market. Except those years didn’t see the same amount of government influence as we are seeing now. The detached market continues its tepid pace, and the townhouse and condo market cooled off as well brining summer of sun and less sales.  There were 575 Detached Houses sold in August 2018 down from 906 (down 36 per cent) in August 2017 in Greater Vancouver, and down from 645 in July 2018. For townhouses there were 354 sales in August 2018 compared to 529 in August 2017 (down 30 per cent), down from 354 in July 2018 and for condos there were 1,025 sales in August 2018, a decrease in sales from 1,613 in August 2017 (down 36 per cent) and compared to 1,079 in July 2018.


As for supply in the market, there was a decrease in the amount of new listings in August compared to last month. There were 3,972 new listings in July in Greater Vancouver, down 9 per cent from August last year and down 10 per cent from August 2016. The amount of new listings in August 2018 were 8 per cent below the 10 year average for August. Active Listings are at 12,519 for month end (up 29 per cent compared to August 2017 but down 3 per cent compared to July 2018). The trend for September will be a rise in listings as the fall market kicks in, but how much of an increase in new listings will impact demand and prices as supply will work towards easing pressure on prices. But this would need to be a significant increase in supply, something not likely to happen given the behaviour we’ve seen from the market and sellers so far in 2018.


“Home buyers have been less active in recent months and we’re beginning to see prices edge down for all housing types as a result,” Phil Moore, Real Estate Board of Greater Vancouver president said. “Buyers today have more listings to choose from and face less competition than we’ve seen in our market in recent years,” Moore said. “With fewer buyers active in the market, benchmark prices across all three housing categories have declined for two consecutive months across the region.”



East of the Fraser River, the Fraser Valley Real Estate Board processed 1,155 sales of all property types on its Multiple Listing Service® in August, a decrease of 38.5 per cent compared to 1,879 sales in August of last year, and a 10.5 per cent decrease compared to the 1,290 sales in July 2018. Of the 1,155 sales processed last month 294 were townhouses and 318 were apartments, together representing 50 per cent of all transactions in August.  Active inventory for the Fraser Valley finished at 7,339, decreasing 0.8 per cent month-over-month and 28.5 per cent when compared to August 2017. “Our market continues to open up the further we get into the year, and that means you can make more considered, informed decisions if you’re looking to jump in,” said John Barbisan, Board President. “With demand slowing down and prices staying put, both buyers and sellers can expect to see an easing of competition with less multiple offer situations.”


Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in August 2018 was 1,961 – down from 2,108 (7%) in July 2018, down from 3,097 (37%) in August 2017, down from 2,554 (23%) in August 2016; Active Listings are at 12,519 compared to 9,470 (up 32%) at this time last year; New Listings in August 2018 were down 9% compared to August 2017 and down 14% compared to August 2016; Month’s Supply of Total Residential Listings is steady at 6 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 49% compared to 71% in August 2017.


Vancouver Westside Residential: Total Units Sold in August 2018 was 371 – down from 403 (8%) in July 2018, down from 516 (28%) in August 2017, down from 452 (18%) in August 2016; Active Listings are at 2,158 compared to 1,596 (up 35%) at this time last year; New Listings in August 2018 were down 4% compared to August 2017 and down 8% compared to August 2016; Month’s Supply of Total Residential Listings is steady at 6 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 51% compared to 69% in August 2017.


Vancouver Eastside Residential: Total Units Sold in August 2018 was 191 – down from 227 (16%) in July 2018, down from 288 (34%) in August 2017, down from 218 (12%) in August 2016; Active Listings are at 1,326 compared to 1,070 (up 24%) at this time last year; New Listings in August 2018 were down 5% compared to August 2017 and down 15% compared to August 2016; Month’s Supply of Total Residential Listings is up to 7 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 48% compared to 69% in August 2017.


North Vancouver Residential Total Units Sold in August 2018 was 131 – down from 153 (14%) in July 2018, down from 217 (40%) in August 2017, down from 161 (19%) in August 2016; Active Listings are at 739 compared to 472 (up 57%) at this time last year; New Listings in August 2018 were down 3% compared to August 2017 and down 6% compared to August 2016; Month’s Supply of Total Residential Listings is up to 6 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 51% compared to 82% in August 2017.


West Vancouver Houses: Total Units Sold in August 2018 was 46 – down from 57 (19%) in July 2018, down from 50 (8%) in August 2017, down from 57 (19%) in August 2016; Active Listings are at 716 compared to 575 (up 26%) at this time last year; New Listings in August 2018 were up 4% compared to August 2017 and up 21% compared to August 2016; Month’s Supply of Total Residential Listings is up to 16 Month’s Supply (Extreme Buyer’s Market with Detached) and a Sales to Listings Ratio of 32% compared to 37% in August 2017.


Richmond Residential: Total Units Sold in August 2018 was 266 – down from 284 (6%) in July 2018, down from 454 (41%) in August 2017, down from 324 (18%) in August 2016; Active Listings are at 1,785 compared to 1,422 (up 25%) at this time last year; New Listings in August 2018 were down 16% compared to August 2017 and down 3% compared to August 2016; Month’s Supply of Total Residential Listings is up to 7 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 47% compared to 67% in August 2017.


Burnaby East: Total Units Sold in August 2018 was 21 – flat compared to 21 in July 2018, down from 30 (30%) in August 2017, flat compared to 21 in August 2016; Active Listings are at 126 compared to 112 (up 13%) at this time last year; New Listings in August 2018 were down 33% compared to August 2017 and down 18% compared to August 2016; Month’s Supply of Total Residential Listings is down to 6 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 55% compared to 53% in August 2017.


Burnaby North: Total Units Sold in August 2018 was 82 – down from 88 (7%) in July 2018, down from 166 (51%) in August 2017, down from 125 (34%) in August 2016; Active Listings are at 482 compared to 370 (up 22%) at this time last year; New Listings in August 2018 were down 9% compared to August 2017 and down 22% compared to August 2016; Month’s Supply of Total Residential Listings is up to 6 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 44% compared to 81% in August 2017.


Burnaby South: Total Units Sold in August 2018 was 94 – up from 76 (24%) in July 2018, down from 168 (44%) in August 2017, down from 127 (26%) in August 2016; Active Listings are at 614 compared to 487 (up 26%) at this time last year; New Listings in August 2018 were down 23% compared to August 2017 and down 24% compared to August 2016; Month’s Supply of Total Residential Listings is down to 7 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 46% compared to 64% in August 2017.


New Westminster: Total Units Sold in August 2018 was 90 – down from 114 (21%) in July 2018, down from 170 (37%) in August 2017, down from 122 (26%) in August 2016; Active Listings are at 382 compared to 249 (up 53%) at this time last year; New Listings in August 2018 were down 29% compared to August 2017 and up 2% compared to August 2016; Month’s Supply of Total Residential Listings is up to 4 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 56% compared to 83% in August 2017.


Coquitlam: Total Units Sold in August 2018 was 183 – down from 150 (22%) in July 2018, down from 249 (27%) in August 2017, down from 199 (8%) in August 2016; Active Listings are at 971 compared to 639 (up 52%) at this time last year; New Listings in August 2018 were down 4% compared to August 2017 and up 10% compared to August 2016; Month’s Supply of Total Residential Listings is down to 5 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 50% compared to 65% in August 2017.


Port Moody: Total Units Sold in August 2018 was 29 – down from 52 (46%) in July 2018, down from 67 (57%) in August 2017, down from 64 (55%) in August 2016; Active Listings are at 201 compared to 141 (up 43%) at this time last year; New Listings in August 2018 were down 37% compared to August 2017 and down 42% compared to August 2016; Month’s Supply of Total Residential Listings is up to 7 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 52% compared to 84% in August 2017.


Port Coquitlam: Total Units Sold in August 2018 was 72 – down from 84 (14%) in July 2018, down from 115 (38%) in August 2017, down from 91 (21%) in August 2016; Active Listings are at 336 compared to 205 (up 64%) at this time last year; New Listings in August 2018 were down 14% compared to August 2017 and down 24% compared to August 2016; Month’s Supply of Total Residential Listings is up to 5 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 49% compared to 64% in August 2017.


Ladner: Total Units Sold in August 2018 was 23 – down from 29 (21%) in July 2018, down from 40 (42%) in August 2017, up from 19 (21%) in August 2016; Active Listings are at 168 compared to 110 (up 53%) at this time last year; New Listings in August 2018 were up 28% compared to August 2017 and down 26% compared to August 2016; Month’s Supply of Total Residential Listings is up to 7 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 50% compared to 111% in August 2017.


Tsawwassen: Total Units Sold in August 2018 was 25 – up from 23 (8%) in July 2018, down from 40 (42%) in August 2017, up from 24 (4%) in August 2016; Active Listings are at 227 compared to 173 (up 31%) at this time last year; New Listings in August 2018 were down 18% compared to August 2017 and down 32% compared to August 2016; Month’s Supply of Total Residential Listings is down to 9 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 56% compared to 73% in August 2017.
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Sales and listings stats are attached as of August 19, 2018. So many adjectives, so little time in trying to explain the real estate market right now. Much like the Canucks, people are questioning whether it’s a rebuild or a retool. Where is the market at? Are prices down? If so how much? What metric do we use? Well for starters, activity is down and quite significantly compared to the last two years. That we know and that we’ve seen. The numbers for August so far are trending towards one of the lower amounts for sales in August in the last 20 years. But it would appear it may be on par for July, which typically isn’t the case. August sales typically are lower than July. Average Price/Median Price is down, in some areas more than others. And why wouldn’t it be if demand is pushed to the lower end of the market given that Average/Median Price comes from a calculation of the total dollar volume of sales. Not surprising when the higher end of the market is down, but not indicative of what buyers are paying for a particular home. And new listings are much lower for August comparatively. Perhaps we need the Fall to begin the rise. Bring on September!


Sales and Listings Stats All Regional for August 19 2018


Sales and Listings Stats Houses Townhouses and Condos August 19 2018


Here is a summary of the activity so far:


Greater Vancouver –1,091 Units Sold so far in August 2018 compared to 1,862 Units Sold at this time in August 2017 and 1,639 at the same time in August 2016. Total New Listings so far in August are 2,347 compared to 2,798 at this time in August 2017 and 3,220 at this time in August 2016. Total Active Listings are at 12,679 (9,764 at the same time in August 2017), Sales To Listings Ratio is at 46% compared to 67% at this time in August 2017.


Vancouver West - 210 Units Sold so far in August 2018 compared to 308 Units Sold at this time in August 2017 and 293 at this time in August 2016. Total New Listings so far in August are 458 compared to 483 at this time in August 2017, and 582 at this time in August 2016. Total Active Listings are at 2,223 (1,689 at the same time in August 2017), Sales To Listings Ratio is at 46% compared to 64% at this time in August 2017.


Vancouver East – 103 Units Sold so far in August 2018 compared to 184 Units Sold at this time in August 2017 and 142 at this time in August 2016. Total New Listings so far in August are 239 compared to 270 at this time in August 2017, and 347 at this time in August 2016. Total Active Listings are at 1,359 (1,086 at the same time in August 2017), Sales To Listings Ratio is at 43% compared to 68% at this time in August 2017.


North Vancouver – 73 Units Sold so far in August 2018 compared to 135 Units Sold at this time in August 2017 and 107 at this time in August 2016. Total New Listings so far in August are 157 compared to 165 at this time in August 2017, and 199 at this time in August 2016. Total Active Listings are at 764 (506 at the same time in August 2017), Sales To Listings Ratio is at 46% compared to 82% at this time in August 2017.


West Vancouver – 27 Units Sold so far in August 2018 compared to 23 Units Sold at this time in August 2017 and 40 at this time in August 2016. Total New Listings so far in August are 86 compared to 84 at this time in August 2017, and 86 at this time in August 2016. Total Active Listings are at 735 (585 at the same time in August 2017), Sales To Listings Ratio is at 31% compared to 27% at this time in August 2017.


Richmond –140 Units Sold so far in August 2018 compared to 270 Units Sold at this time in August 2017 and 206 at this time in August 2016. Total New Listings so far in August are 336 compared to 425 at this time in August 2017, and 439 at this time in August 2016. Total Active Listings are at 1,808 (1,440 at the same time in August 2017), Sales To Listings Ratio is at 42% compared to 64% at this time in August 2017.
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Attached are the Sales and Listings Stats updated to the end of July 2018. While the weather has helped to take attention away from the real estate market, we continue to see the impacts of the mortgage stress test, rate increase and government intervention on the market. Along with the natural transition from a very busy market as demand wanes and it’s not surprising to see the market down 30 per cent in sales volume. Some interesting reports show the Toronto real estate market having its first year over year increase in sales since their market slowed. That certainly could be attributed to the election result which favored the party with less demand side measures to be taken on the real estate market. A report from Mortgage Professionals Canada As is typically the case, June sales volumes were less than that of May as consumers’ attentions shift towards graduations and summer vacations. The total number of homes sold in Pro showed that the tougher mortgage qualification rules are disqualifying 18 per cent of buyers who cannot purchase their preferred home even though they could afford it. That 18 per cent were among the 50 per cent of all homes buyers in the first half of the year. The report went on to say that most of those buyers still purchased but went on to purchase but had to buy lesser expensive homes.


There were 2,108 homes sold of all types in Greater Vancouver in July this year compared with 3,102 sales in July last year and 3,301 homes sold in July 2016. This was 33 per cent below the 10 year average for July and the lowest amount of sales in July since 2000. In fact, 1998 to 2000 saw some of the lowest amounts for sales in the month of July (1,758 in 2000, 2,217 in 1999 and 1,860 in 1998). Coincidentally the last three years of the NDP Government before the Liberals took over in 2001. While July is typically a slower month for sales on average, this year is certainly showing similar results when looking at monthly sales compared to 2017.  There were 645 Detached Houses sold in July 2018 down from 771 (down 16 per cent) in June in Greater Vancouver, but down from 954 in July 2017. For townhouses there were 354 sales in July 2018 compared to 419 in June (down 13 per cent) and for condos there were 1,079 sales in July, a decrease in sales from 1,240 in June (down 15 per cent) and compared to 1,468 in July 2017.


As for supply in the market, there was a decrease in the amount of new listings in July compared to last month. There were 4,896 new listings in July in Greater Vancouver, down 9 per cent from July last year and down 8 per cent from July 2016. The amount of new listings in July 2018 were 4 per cent below the 10 year average for July. Active Listings are at 12,848 for month end (up 30 per cent compared to July 2017). While the rise of active listings continued in July, the rate of growth slowed has slowed much more compared to previous months, keeping Active Listings below 13,000. August will continue to be slow for new listings with Active Listings likely to drop by the end of the month.


“With fewer buyers active in today’s market, we’re seeing less upward pressure on home prices across the region,” Phil Moore, Real Estate Board of Greater Vancouver president said. “This is most pronounced in the detached home market, but demand in the townhome and apartment markets is also relenting from the more frenetic pace experienced over the last few years. Summer is traditionally a quieter time of year in real estate. This is particularly true this year,” Moore said. “With increased mortgage rates and stricter lending requirements, buyers and sellers are opting to take a wait-and-see approach for the time being.”



East of the Fraser River, the Fraser Valley Real Estate Board processed 1,290 sales of all property types on its Multiple Listing Service® in July, a decrease of 33.4 per cent compared to 1,937 sales in July of last year, and a 11.2 per cent decrease compared to the 1,452 sales in June 2018. Of the 1,290 sales processed last month 346 were townhouses and 337 were apartments, together representing 53 per cent of all transactions in July, a slightly bigger share of the market compared to June.  Active inventory for the Fraser Valley finished at 7,399, increasing 3.6 per cent month-over-month and 23.9 per cent when compared to July 2017. “Despite a much healthier level of inventory, demand continues to be influenced by pricing and market barriers such as the mortgage stress test and rising interest rates,” said John Barbisan, Board President. “On top of that, summer is busy for people and usually a slow season for real estate.”


Sales and Listings Stats All Regional July 2018


Sales and Listings Stats Houses Townhouses Condos July 2018


Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in July 2018 was 2,108 – down from 2,467 (15%) in June 2018, down from 3,012 (30%) in July 2017, down from 3,301 (37%) in July 2016; Active Listings are at 12,848 compared to 9,869 (up 30%) at this time last year; New Listings in July 2018 were down 9% compared to July 2017 and down 9% compared to July 2016; Month’s Supply of Total Residential Listings is up to 6 Month’s Supply (Balanced to Buyer’s Market with Attached shifting to Balanced Market conditions) and a Sales to Listings Ratio of 43% compared to 56% in July 2017.


Vancouver Westside Residential: Total Units Sold in July 2018 was 403 – down from 458 (12%) in June 2018, down from 525 (23%) in July 2017, down from 604 (33%) in July 2016; Active Listings are at 2,272 compared to 1,705 (up 33%) at this time last year; New Listings in July 2018 were down 10% compared to July 2017 and down 13% compared to July 2016; Month’s Supply of Total Residential Listings is up to 6 Month’s Supply (Balanced to Buyer’s Market with Attached shifting to Balanced Market conditions) and a Sales to Listings Ratio of 45% compared to 53% in July 2017.


Vancouver Eastside Residential: Total Units Sold in July 2018 was 227 – down from 282 (20%) in June 2018, down from 307 (26%) in July 2017, down from 290 (22%) in July 2016; Active Listings are at 1,391 compared to 1,135 (up 23%) at this time last year; New Listings in July 2018 were down 15% compared to July 2017 and up 1% compared to July 2016; Month’s Supply of Total Residential Listings is up to 6 Month’s Supply (Balanced to Buyer’s Market with Attached shifting to Balanced Market conditions) and a Sales to Listings Ratio of 42% compared to 56% in July 2017.


North Vancouver Residential Total Units Sold in July 2018 was 153 – down from 199 (23%) in June 2018, down from 200 (23%) in July 2017, down from 240 (36%) in July 2016; Active Listings are at 794 compared to 554 (up 43%) at this time last year; New Listings in July 2018 were down 10% compared to July 2017 and down 10% compared to July 2016; Month’s Supply of Total Residential Listings is up to 5 Month’s Supply (Balanced to Buyer’s Market with Attached shifting to Balanced Market conditions) and a Sales to Listings Ratio of 47% compared to 55% in July 2017.


West Vancouver Houses: Total Units Sold in July 2018 was 57 – up from 54 (5%) in June 2018, up from 56 (2%) in July 2017, down from 67 (15%) in July 2016; Active Listings are at 740 compared to 585 (up 33%) at this time last year; New Listings in July 2018 were down 1% compared to July 2017 and down 13% compared to July 2016; Month’s Supply of Total Residential Listings is down to 13 Month’s Supply (Buyer’s Market) and a Sales to Listings Ratio of 33% compared to 32% in July 2017.


Richmond Residential: Total Units Sold in July 2018 was 284 – down from 308 (8%) in June 2018, down from 404 (30%) in July 2017, down from 433 (34%) in July 2016; Active Listings are at 1,809 compared to 1,435 (up 26%) at this time last year; New Listings in July 2018 were down 20% compared to July 2017 and down 15% compared to July 2016; Month’s Supply of Total Residential Listings is steady at 6 Month’s Supply (Balanced to Buyer’s Market with Attached shifting to Balanced Market conditions) and a Sales to Listings Ratio of 44% compared to 50% in July 2017.


Burnaby East: Total Units Sold in July 2018 was 21 – down from 22 (19%) in June 2018, down from 31 (33%) in July 2017, down from 32 (35%) in July 2016; Active Listings are at 138 compared to 104 (up 33%) at this time last year; New Listings in July 2018 were down 8% compared to July 2017 and down 13% compared to July 2016; Month’s Supply of Total Residential Listings is up to 7 Month’s Supply (Balanced to Buyer’s Market with Attached shifting to Balanced Market conditions) and a Sales to Listings Ratio of 38% compared to 52% in July 2017.


Burnaby North: Total Units Sold in July 2018 was 88 – down from 107 (18%) in June 2018, down from 124 (29%) in July 2017, down from 165 (47%) in July 2016; Active Listings are at 476 compared to 406 (up 17%) at this time last year; New Listings in July 2018 were down 15% compared to July 2017 and down 25% compared to July 2016; Month’s Supply of Total Residential Listings is up to 5 Month’s Supply (Balanced to Buyer’s Market with Attached shifting to Balanced Market conditions) and a Sales to Listings Ratio of 42% compared to 40% in July 2017.


Burnaby South: Total Units Sold in July 2018 was 76 – down from 121 (37%) in June 2018, down from 144 (47%) in July 2017, down from 192 (60%) in July 2016; Active Listings are at 646 compared to 498 (up 30%) at this time last year; New Listings in July 2018 were down 15% compared to July 2017 and down 17% compared to July 2016; Month’s Supply of Total Residential Listings is up to 9 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 29% compared to 47% in July 2017.


New Westminster: Total Units Sold in July 2018 was 114 – down from 141 (19%) in June 2018, down from 150 (24%) in July 2017, down from 154 (26%) in July 2016; Active Listings are at 385 compared to 274 (up 41%) at this time last year; New Listings in July 2018 were down 9% compared to July 2017 and up 8% compared to July 2016; Month’s Supply of Total Residential Listings is steady at 3 Month’s Supply (Balanced to Seller’s Market Conditions) and a Sales to Listings Ratio of 55% compared to 66% in July 2017.


Coquitlam: Total Units Sold in July 2018 was 150 – down from 178 (15%) in June 2018, down from 270 (45%) in July 2017, down from 293 (49%) in July 2016; Active Listings are at 979 compared to 638 (up 53%) at this time last year; New Listings in July 2018 were up 1% compared to July 2017 and up 5% compared to July 2016; Month’s Supply of Total Residential Listings is up to 7 Month’s Supply (Balanced to Buyer’s Market) and a Sales to Listings Ratio of 32% compared to 58% in July 2017.


Port Moody: Total Units Sold in July 2018 was 52 – up from 48 (8%) in June 2018, down from 75 (30%) in July 2017, down from 74 (30%) in July 2016; Active Listings are at 218 compared to 160 (up 36%) at this time last year; New Listings in July 2018 were down 9% compared to July 2017 and down 16% compared to July 2016; Month’s Supply of Total Residential Listings is down to 4 Month’s Supply (Balanced to Seller’s Market Conditions in Attached) and a Sales to Listings Ratio of 48% compared to 63% in July 2017.


Port Coquitlam: Total Units Sold in July 2018 was 84 – down from 108 (22%) in June 2018, down from 120 (30%) in July 2017, down from 138 (39%) in July 2016; Active Listings are at 330 compared to 182 (up 81%) at this time last year; New Listings in July 2018 were up 9% compared to July 2017 and down 1% compared to July 2016; Month’s Supply of Total Residential Listings is up to 4 Month’s Supply (Balanced to Seller’s Market Conditions in Attached) and a Sales to Listings Ratio of 45% compared to 70% in July 2017.


Ladner: Total Units Sold in July 2018 was 29 – down from 38 (24%) in June 2018, down from 46 (37%) in July 2017, down from 57 (41%) in July 2016; Active Listings are at 164 compared to 128 (up 28%) at this time last year; New Listings in July 2018 were down 19% compared to July 2017 and down 12% compared to July 2016; Month’s Supply of Total Residential Listings is up to 6 Month’s Supply (Balanced to Buyer’s Market with Attached shifting to Balanced Market conditions) and a Sales to Listings Ratio of 66% compared to 85% in July 2017.


Tsawwassen: Total Units Sold in July 2018 was 23 – down from 42 (45%) in June 2018, down from 43 (47%) in July 2017, down from 38 (39%) in July 2016; Active Listings are at 253 compared to 187 (up 35%) at this time last year; New Listings in July 2018 were down 18% compared to July 2017 and up 11% compared to July 2016; Month’s Supply of Total Residential Listings is up to 11 Month’s Supply (Buyer’s Market conditions) and a Sales to Listings Ratio of 37% compared to 57% in July 2017.

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Sales and listings stats are attached as of July 22, 2018. Sales for July are so far tracking at about 30 per cent below the levels of last July, with new listings down between 8 to 10 per cent, depending on the area and product type. East Vancouver is seeing a 5 per cent increase in new listings so far in July compared to last year though. Then the Bank of Canada raised its overnight lending rate again 10 days ago, putting pressure on the mortgage market once again this year. That has certainly been one of the biggest impacts in the real estate market – the ability for buyers to get financing approvals. For Greater Vancouver, there have been 100 sales per day so far, while in July 2017 up to the 22th there were 149 sales per day and in July 2016 at mid-month there were 160 sales per day. We are starting to see more engagement in the detached market as some sellers are seeing where the market has gone and are willing to participate and buyers are acting on those market changes. The remainder of the summer isn’t likely to change much in terms of volume, leaving for an interesting fall ahead!


Sales and Listings Stats for July 22 2018 for Houses Townhouses and Condos


Sales and Listings Stats for July 22 2018 for All Regional


Here is a summary of the activity so far:


Greater Vancouver – 1,398 units sold so far in July 2018 compared to 2,094 units sold as of July 22, 2017. Total New Listings so far in July are 3,492 compared to 3,964 units listed as of July 22, 2017. Total Active Listings are at 12,920 (9,805 at the same time last year). Sales To Listings Ratio is at 40% compared to 45% in June 2018.


Vancouver West - 263 units sold so far in July 2018 compared to 364 units sold as of July 22, 2017. Total New Listings so far in July are 644 compared to 739 units listed as of July 22, 2017. Total Active Listings are at 2,327 (1,695 at the same time last year). Sales To Listings Ratio is at 41% compared to 47% in June 2018.


Vancouver East – 141 units sold so far in July 2018 compared to 210 units sold as of July 22, 2017. Total New Listings so far in July are 382 compared to 401 units listed as of July 22, 2017. Total Active Listings are at 1,417 (1,157 at the same time last year). Sales To Listings Ratio is at 37% compared to 45% in June 2018.


North Vancouver – 104 units sold so far in July 2018 compared to 153 units sold as of July 22, 2017. Total New Listings so far in July are 237 compared to 260 units listed as of July 22, 2017. Total Active Listings are at 808 (532 at the same time last year). Sales To Listings Ratio is at 44% compared to 48% in June 2018.


West Vancouver – 42 units sold so far in July 2018 compared to 40 units sold as of July 22, 2017. Total New Listings so far in July are 123 compared to 131 units listed as of July 22, 2017. Total Active Listings are at 742 (580 at the same time last year). Sales To Listings Ratio is at 34% compared to 23% in June 2018.


Burnaby East – 13 units sold so far in July 2018 compared to 19 units sold as of July 22, 2017. Total New Listings so far in July are 41 compared to 44 units listed as of July 22, 2017. Total Active Listings are at 141 (107 at the same time last year). Sales To Listings Ratio is at 32% compared to 52% in June 2018.


Burnaby North – 61 units sold so far in July 2018 compared to 81 units sold as of July 22, 2017. Total New Listings so far in July are 151 compared to 184 units listed as of July 22, 2017. Total Active Listings are at 490 (405 at the same time last year). Sales To Listings Ratio is at 40% compared to 41% in June 2018.


Burnaby South – 56 units sold so far in July 2018 compared to 94 units sold as of July 22, 2017. Total New Listings so far in July are 197 compared to 223 units listed as of July 22, 2017. Total Active Listings are at 637 (482 at the same time last year). Sales To Listings Ratio is at 28% compared to 49% in June 2018.


New Westminster – 74 units sold so far in July 2018 compared to 111 units sold as of July 22, 2017. Total New Listings so far in July are 149 compared to 160 units listed as of July 22, 2017. Total Active Listings are at 391 (268 at the same time last year). Sales To Listings Ratio is at 50% compared to 61% in June 2018.


Coquitlam – 100 units sold so far in July 2018 compared to 180 units sold as of July 22, 2017. Total New Listings so far in July are 325 compared to 346 units listed as of July 22, 2017. Total Active Listings are at 954 (644 at the same time last year). Sales To Listings Ratio is at 31% compared to 40% in June 2018.


Port Moody – 32 units sold so far in July 2018 compared to 51 units sold as of July 22, 2017. Total New Listings so far in July are 76 compared to 91 units listed as of July 22, 2017. Total Active Listings are at 219 (167 at the same time last year). Sales To Listings Ratio is at 42% compared to 40% in June 2018.


Port Coquitlam – 56 units sold so far in July 2018 compared to 81 units sold as of July 22, 2017. Total New Listings so far in July are 130 compared to 121 units listed as of July 22, 2017. Total Active Listings are at 325 (184 at the same time last year). Sales To Listings Ratio is at 43% compared to 50% in June 2018.


Ladner – 23 units sold so far in July 2018 compared to 34 units sold as of July 22, 2017. Total New Listings so far in July are 30 compared to 44 units listed as of July 22, 2017. Total Active Listings are at 162 (137 at the same time last year). Sales To Listings Ratio is at 77% compared to 54% in June 2018.


Tsawwassen – 18 units sold so far in July 2018 compared to 29 units sold as of July 22, 2017. Total New Listings so far in July are 40 compared to 54 units listed as of July 22, 2017. Total Active Listings are at 249 (186 at the same time last year). Sales To Listings Ratio is at 45% compared to 60% in June 2018.

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Attached are the Sales and Listings Stats updated to the end of June 2018. As is typically the case, June sales volumes were less than that of May as consumers’ attentions shift towards graduations and summer vacations. The total number of homes sold in June is below the 10 year average, as we’ve seen in 2018 so far but on the inventory side the amount of new listings coming on market in June was below the ten year average. So while one would expect a rapid rise in active listings in a slower market, that’s not been the case to any great degree, and less so in June.


Sales and Listings Stats All Residential for June 2018


Sales and Listings Stats Houses Townhouses and Condos for June 2018


There were 2,467 homes sold of all types in Greater Vancouver in June this year compared with 3,953 sales in June last year and 4,502 homes sold in June 2016. This was 29 per cent below the 10 year average for June and the lowest amount of sales in June since 2012. The first six months of 2018 saw 14,626 homes sold in Greater Vancouver, the lowest amount for the first half of the year since 2013, and just above the amount for 2012 at 15,230. The 10 year average for the first 6 months of the year is 17,976. So clearly, the market is underperforming, to no one’s surprise. There were 771 Detached Houses sold in June 2018 down from 936 (down 18 per cent) in May in Greater Vancouver, but down from 1,372 in June 2017. For townhouses there were 419 sales in June 2018 compared to 476 in May (down 12 per cent) and for condos there were 1,240 sales, a decrease in sales in June 2018 compared to 1,431 in May (down 13 per cent).


As for supply in the market, there was a decrease in the amount of new listings in June compared to last month. There were 5,433 new listings in June in Greater Vancouver, down 8 per cent from June last year and down 10 per cent from June 2016. The amount of new listings in June 2018 were 4.5 per cent below the 10 year average for June. Active Listings are at 12,652 for month end (up 37.5 per cent compared to June 2017). While the rise of active listings continued in June, the rate of growth slowed and that is likely to continue into July and August. So while we may see a summer of discontent, it could lead to a fall of new beginnings as pent up demand reengages to take advantage of perceived increases in inventory levels and slowness in the market. But while the inventories are higher, the growth has been to a greater degree in the higher end of the market and a larger number of land assembly properties that are a fast growing trend in the market. So for the average and lower end buyer, there hasn’t been as much of an increase in supply as they would like or as is needed.


What needs to be looked at is to compare the sales and listings statistics to the growth in housing stock and population in Greater Vancouver. Comparing numbers over the last 20 years may well show the performance against those years, but with an increased housing stock there should be more product coming to market and should be a greater degree of selling activity. But there is a lack of supply keeping both at bay. More to come on this.


“Buyers are less active today. This is allowing the supply of homes for sale to accumulate to levels we haven’t seen in the last few years,” Phil Moore, Real Estate Board of Greater Vancouver president said. “Rising interest rates, high prices and more restrictive mortgage requirements are among the factors dampening home buyer activity today. With reduced demand, detached homes are entering a buyers’ market and price growth in our townhome and apartment markets is showing signs of decelerating.”



East of the Fraser River, the Fraser Valley Real Estate Board processed 1,452 sales of all property types on its Multiple Listing Service® in May, a decrease of 43.5 per cent compared to 2,571 sales in June of last year, and a 17.4 per cent decrease compared to the 1,758 sales in May 2018. Of the 1,452 sales processed last month 364 were townhouses and 392 were apartments, together representing 52 per cent of all transactions in June. Active inventory for the Fraser Valley finished at 7,141, increasing 6 per cent month-over-month and 30.1 per cent when compared to June 2017. “Demand is shifting back towards typical levels for our region, and market activity is reflecting that,” said John Barbisan, Board President. “This has given our inventory a much-needed chance to recover and move the Valley towards a more balanced real estate landscape. One thing that isn’t changing quickly is pricing; prices are still increasing but we continue to see a gradual slowdown in upwards movement.”


Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in June 2018 was 2,467 – down from 2,890 (15%) in May 2018, down from 3,953 (38%) in June 2017, down from 4,502 (45%) in June 2016; Active Listings are at 12,652 compared to 9,198 (up 38%) at this time last year; New Listings in June 2018 were down 8% compared to June 2017 and down 10% compared to June 2016; Month’s Supply of Total Residential Listings is up to 5 Month’s Supply (Balanced to Buyer’s Market with Attached still showing some signs of multiple offers) and a Sales to Listings Ratio of 45% compared to 67% in June 2017.


Vancouver Westside Residential: Total Units Sold in June 2018 was 458 – down from 504 (9%) in May 2018, down from 644 (29%) in June 2017, down from 816 (44%) in June 2016; Active Listings are at 2,346 compared to 1,544 (up 52%) at this time last year; New Listings in June 2018 were down 11% compared to June 2017 and down 14% compared to June 2016; Month’s Supply of Total Residential Listings is steady at 5 Month’s Supply (Balanced to Buyer’s Market with Attached still showing some signs of multiple offers) and a Sales to Listings Ratio of 47% compared to 59% in June 2017.


Vancouver Eastside Residential: Total Units Sold in June 2018 was 282 – down from 364 (23%) in May 2018, down from 451 (37%) in June 2017, down from 407 (30%) in June 2016; Active Listings are at 1,375 compared to 1,119 (up 23%) at this time last year; New Listings in June 2018 were down 3% compared to June 2017 and up 5% compared to June 2016; Month’s Supply of Total Residential Listings is up to 5 Month’s Supply (Balanced to Buyer’s Market with Attached still showing some signs of multiple offers) and a Sales to Listings Ratio of 45% compared to 71% in June 2017.


North Vancouver Residential Total Units Sold in June 2018 was 199 – down from 238 (16%) in May 2018, down from 298 (33%) in June 2017, down from 346 (42%) in June 2016; Active Listings are at 800 compared to 510 (up 57%) at this time last year; New Listings in June 2018 were down 3% compared to June 2017 and down 5% compared to June 2016; Month’s Supply of Total Residential Listings is up to 4 Month’s Supply (Balanced to Buyer’s Market with Attached still showing some signs of multiple offers) and a Sales to Listings Ratio of 48% compared to 70% in June 2017.


West Vancouver Houses: Total Units Sold in June 2018 was 54 – down from 63 (14%) in May 2018, down from 92 (41%) in June 2017, down from 109 (51%) in June 2016; Active Listings are at 784 compared to 578 (up 36%) at this time last year; New Listings in June 2018 were up 3% compared to June 2017 and up 8% compared to June 2016; Month’s Supply of Total Residential Listings is up to 15 Month’s Supply (Extreme Buyer’s Market for Detached and Balanced for Attached) and a Sales to Listings Ratio of 23% compared to 40% in June 2017.


Richmond Residential: Total Units Sold in June 2018 was 308 – down from 356 (13%) in May 2018, down from 563 (37%) in June 2017, down from 637 (52%) in June 2016; Active Listings are at 1,787 compared to 1,294 (up 38%) at this time last year; New Listings in June 2018 were down 18% compared to June 2017 and down 19% compared to June 2016; Month’s Supply of Total Residential Listings is up to 6 Month’s Supply (Balanced to Buyer’s Market with Attached still showing some signs of multiple offers) and a Sales to Listings Ratio of 44% compared to 58% in June 2017.


Burnaby East: Total Units Sold in June 2018 was 26 – down from 29 (10%) in May 2018, down from 36 (28%) in June 2017, down from 46 (43%) in June 2016; Active Listings are at 143 compared to 91 (up 57%) at this time last year; New Listings in June 2018 were flat to June 2017 and down 34% compared to June 2016; Month’s Supply of Total Residential Listings is up to 6 Month’s Supply (Balanced to Buyer’s Market with Attached still showing some signs of multiple offers) and a Sales to Listings Ratio of 52% compared to 72% in June 2017.


Burnaby North: Total Units Sold in June 2018 was 2,467 – down from 2,890 (15%) in May 2018, down from 3,953 (38%) in June 2017, down from 4,502 (45%) in June 2016; Active Listings are at 12,652 compared to 9,198 (up 38%) at this time last year; New Listings in June 2018 were down 8% compared to June 2017 and down 10% compared to June 2016; Month’s Supply of Total Residential Listings is up to 5 Month’s Supply (Balanced to Buyer’s Market with Attached still showing some signs of multiple offers) and a Sales to Listings Ratio of 45% compared to 67% in June 2017.


Burnaby South: Total Units Sold in June 2018 was 121 – down from 127 (5%) in May 2018, down from 207 (42%) in June 2017, down from 248 (51%) in June 2016; Active Listings are at 576 compared to 437 (up 32%) at this time last year; New Listings in June 2018 were down 21% compared to June 2017 and down 25% compared to June 2016; Month’s Supply of Total Residential Listings is up to 5 Month’s Supply (Balanced to Buyer’s Market with Attached still showing some signs of multiple offers) and a Sales to Listings Ratio of 49% compared to 66% in June 2017.


New Westminster: Total Units Sold in June 2018 was 141 – up from 132 (7%) in May 2018, down from 196 (28%) in June 2017, down from 191 (26%) in June 2016; Active Listings are at 370 compared to 249 (up 49%) at this time last year; New Listings in June 2018 were down 5% compared to June 2017 and up 11% compared to June 2016; Month’s Supply of Total Residential Listings is steady at 3 Month’s Supply (Balanced to Buyer’s Market with Attached still showing some signs of multiple offers) and a Sales to Listings Ratio of 61% compared to 80% in June 2017.


Coquitlam: Total Units Sold in June 2018 was 178 – down from 200 (11%) in May 2018, down from 323 (45%) in June 2017, down from 375 (53%) in June 2016; Active Listings are at 888 compared to 563 (up 57%) at this time last year; New Listings in June 2018 were down 6% compared to June 2017 and down 14% compared to June 2016; Month’s Supply of Total Residential Listings is up to 5 Month’s Supply (Balanced to Buyer’s Market with Attached still showing some signs of multiple offers) and a Sales to Listings Ratio of 40% compared to 67% in June 2017.


Port Moody: Total Units Sold in June 2018 was 48 – down from 64 (25%) in May 2018, down from 90 (47%) in June 2017, down from 101 (52%) in June 2016; Active Listings are at 219 compared to 149 (up 53%) at this time last year; New Listings in June 2018 were up 2% compared to June 2017 and up 5% compared to June 2016; Month’s Supply of Total Residential Listings is up to 5 Month’s Supply (Balanced to Buyer’s Market with Attached still showing some signs of multiple offers) and a Sales to Listings Ratio of 40% compared to 76% in June 2017.


Port Coquitlam: Total Units Sold in June 2018 was 108 – up from 104 (5%) in May 2018, down from 177 (39%) in June 2017, down from 155 (30%) in June 2016; Active Listings are at 292 compared to 174 (up 68%) at this time last year; New Listings in June 2018 were up 9% compared to June 2017 and up 9% compared to June 2016; Month’s Supply of Total Residential Listings is steady at 3 Month’s Supply (Balanced to Buyer’s Market with Attached still showing some signs of multiple offers) and a Sales to Listings Ratio of 50% compared to 90% in June 2017.


Ladner: Total Units Sold in June 2018 was 38 – up from 36 (1%) in May 2018, down from 45 (15%) in June 2017, down from 57 (33%) in June 2016; Active Listings are at 171 compared to 139 (up 23%) at this time last year; New Listings in June 2018 were up 18% compared to June 2017 and up 77% compared to June 2016; Month’s Supply of Total Residential Listings is steady at 5 Month’s Supply (Balanced to Buyer’s Market with Attached still showing some signs of multiple offers) and a Sales to Listings Ratio of 54% compared to 75% in June 2017.


Tsawwassen: Total Units Sold in June 2018 was 42 – down from 35 (20%) in May 2018, down from 54 (23%) in June 2017, down from 55 (24%) in June 2016; Active Listings are at 252 compared to 185 (up 36%) at this time last year; New Listings in June 2018 were down 15% compared to June 2017 and down 14% compared to June 2016; Month’s Supply of Total Residential Listings is down to 6 Month’s Supply (Balanced to Buyer’s Market with Attached still showing some signs of multiple offers) and a Sales to Listings Ratio of 60% compared to 66% in June 2017.

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Sales and listings stats are attached as of June 17, 2018. The politics of it all! There is more debate than solutions right now in the housing market. June’s sales are on a slower pace than May for Greater Vancouver with Vancouver West showing an opposite trend. The number of sales per day in Greater Vancouver at mid-month were 132 while so far in June they are at 117. Vancouver’s Westside is at 22 sales per day compared to 20 at mid-month in May. What’s noticeable is the amount of listings that are growing in the market. Active listings for detached homes in Vancouver’s Westside are actually down from May, bucking the trend of all other areas and product types. Active listings in Greater Vancouver have climbed to 12,659. The number of new listings per day so far in June are 301 compared to 292 in May. Again Vancouver’s Westside is showing the opposite at 54 new listings per day compared to 57 in May. The new mortgage stress test for conventional mortgages is being seen as the biggest impact in the market thus far in 2018. Of course there is no shortage of distractions to point at. With the latest being regulatory changes from the Superintendent of Real Estate and Real Estate Council of B.C. These changes serve to eliminate Limited Dual Agency and increase the level of disclosure to consumers. All points to more for consumers to think about then what that home listed for! Here is a summary of the activity so far:

 

Sales and Listings Stats All Regional June 17 2018

 

Sales and Listings Stats Houses Townhouses and Condos June 17 2018

 

Greater Vancouver – 1,294 Units Sold so far in June 2018 compared to 1,194 Units Sold as of May 14, 2018. Total New Listings so far in May 2018 are 3,318 compared to 2,628 as of May 14, 2018. Total Active Listings are at 12,659 (9,120 at the same time last year). Sales To Listings Ratio is at 39% compared to 45% in May 2018 at mid-month.

 

Vancouver West - 247 Units Sold so far in June 2018 compared to 180 Units Sold as of May 14, 2018. Total New Listings so far in May 2018 are 601 compared to 515 as of May 14, 2018. Total Active Listings are at 2,358 (1,482 at the same time last year). Sales To Listings Ratio is at 41% compared to 35% in May 2018 at mid-month.

 

Vancouver East –  144 Units Sold so far in June 2018 compared to 144 Units Sold as of May 14, 2018. Total New Listings so far in May 2018 are 402 compared to 306 as of May 14, 2018. Total Active Listings are at 1,410 (1,142 at the same time last year). Sales To Listings Ratio is at 36% compared to 47% in May 2018 at mid-month.

 

North Vancouver – 108 Units Sold so far in June 2018 compared to 98 Units Sold as of May 14, 2018. Total New Listings so far in May 2018 are 261 compared to 193 as of May 14, 2018. Total Active Listings are at 811 (507 at the same time last year). Sales To Listings Ratio is at 41% compared to 51% in May 2018 at mid-month.

 

West Vancouver – 32 Units Sold so far in June 2018 compared to 31 Units Sold as of May 14, 2018. Total New Listings so far in May 2018 are 148 compared to 135 as of May 14, 2018. Total Active Listings are at 766 (583 at the same time last year). Sales To Listings Ratio is at 22% compared to 23% in May 2018 at mid-month.

 

Richmond – 149 Units Sold so far in June 2018 compared to 156 Units Sold as of May 14, 2018. Total New Listings so far in May 2018 are 432 compared to 364 as of May 14, 2018. Total Active Listings are at 1,789 (1,243 at the same time last year). Sales To Listings Ratio is at 34% compared to 43% in May 2018 at mid-month.

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.