Knowledge, Integrity, Humour

Blog › March 2016

Recently Sold Listing 1802 - 590 Nicola Street, Vancouver, BC


V866437 - 1802 - 590 Nicola Street, Vancouver, BC, CANADAI have just recently sold this listing at 1802 - 590 Nicola Street, Vancouver.

Record Sales in March, Still Have a Lack of New Inventory


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

 

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

 

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

 

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

 

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

 

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

 

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



Recently Sold Listing 2333 Napier Street, Vancouver, British Columbia


V999204 - 2333 Napier Street, Vancouver, British Columbia, CANADAI have just recently sold this listing at 2333 Napier Street, Vancouver.

Recently Sold Listing 101 - 1689 E 4th Ave, Vancouver, British Columbia


V1140238-DUP - 101 - 1689 E 4th Ave, Vancouver, British Columbia, CANADAI have just recently sold this listing at 101 - 1689 E 4th Ave, Vancouver.

Recently Sold Listing 3739 W 14th Avenue, Vancouver, BC


R2049444-DUP - 3739 W 14th Avenue, Vancouver, BC, CANADAI have just recently sold this listing at 3739 W 14th Avenue, Vancouver.

New Listing 3739 W 14th Avenue, Vancouver, BC


R2049444 - 3739 W 14th Avenue, Vancouver, BC, CANADAView my new listing for sale SOLD at 3739 W 14th Avenue, Vancouver and currently listed at $3,388,000.SOLD

VIEW!!! You can clearly see Siwash Rock in Stanley Park from the dining room. Ocean, mountains, park and city views from this old-timer on a 33' by 122' lot in Point Grey. Well maintained 1927 house with 5 bedrooms. School catchement: Queen Elizabeth Primary, Lord Byng Secondary, Jules Quesnel Secondary, St. Georges. First showing at Agent's Open House on Tuesday, March 29th, 10:00 am-noon, Open House Sat/Sun April 2nd & 3rd from 2:00-4:00 pm or by appointment. Offers if any on Monday, April 4th at 1:00 pm.

Media's Misinformation


President Darcy McLeod issues letter to The Vancouver Sun

The following letter was issued to The Vancouver Sun for publication earlier today:

Letter to the editor:

I am concerned about information presented in Lori Culbert’s March 19 article “Flipping on the rise, but still a small portion of sales.” The article listed the “top 10 most lucrative house flips.” Our analysis through the MLS® system found that seven of these ten homes were not “flipped,” but instead rebuilt and re-sold. In some cases, a laneway house was also added to the property.

The implication that these homes were re-sold as-is for a quick profit is false and it misleads your readers.

The Real Estate Board of Greater Vancouver, and the 12,500 REALTORS® we represent, encourage an open public discussion about today’s real estate market. We believe, however, that the information that informs this discussion must be presented factually and in proper context.

Yours truly,

Darcy McLeod
President
Real Estate Board of Greater Vancouver



Knight Frank Report Names Vancouver Leads Hottest Real Estate Market Worldwide