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April 2021 Statistics For Greater Vancouver Real Estate


 

It was a banner April for sales in Greater Vancouver.  Have a look at the stats from The Real Estate Board of Greater Vancouver:

 

rebgv stats pkg april 2021



Market Update Greater Vancouver March 2021


 

HERE ARE THE NUMBERS FOR RECORD-BREAKING MARCH 2021: metro vancouver d

 



January 2021 Market Update from Dexter Realty


Welcome to January 2021  please fasten your seat belts

 

Some will express surprise that, as we enter the second year of a global pandemic, the rush to purchase homes in Greater Vancouver continues the startling sales pace seen in 2020. But there is a simple reason for the January surge: price appreciation as accelerating buyer demand collides with a stubborn lack of inventory.


In the past 12 months, the average price (based on dollar volume of sales) of a Greater Vancouver home has increased in value by $93,529, which is far higher than the average household income. In the detached house sector, where sales exploded in January, the average year-over-year price increase is well into the six digits. Dexter agents experienced this first hand during the last week of January as a North Burnaby detached house listing had a stunning amount of interest and showing requests. A significant number of multiple offers occurred, resulting in a sale that surpassed the $1.49 million list price. Each of these bidder was likely aware that, since January of 2020, the average detached house price in North Burnaby has increased by $283,456.

Multiple bids are being seen from West Vancouver and the Sunshine Coast to south of the Fraser River and in every property sector, from detached houses to condominium apartments. In Greater Vancouver during January, 53% of new listings sold, and the sales-to-listing ratio has surpassed 50% for the past seven months. There is little relief coming in new construction. As 2021 started, only 241 detached houses and 230 townhouses had started construction across all of Metro Vancouver, according to Canada Mortgage and Housing Corp. data. Of the total 1,628 new apartment starts, 28% were rentals and many of the remaining condo apartments had been pre-sold months earlier.


What to expect for the 2021 housing market? More of the same. With mortgage interest rates at 100-year-lows and home prices rising an average of nearly $8,000 per month, buyers and investors have awoken to an unprecedented buying opportunity.


Greater Vancouver: In January, 2,454 homes of all property types sold in Greater Vancouver. This compares to 1,602 in January 2020 and 1,120 in January of 2019 and a 28% increase from January of 2015, long considered the peak year for Greater Vancouver housing sales. Another telling stat: during the boom year of 2015, the benchmark January home price was $648,700. This January it was $1,056,600. Yes, we are into an unprecedented seller’s market.


Listings continue to decline, however. Total active listings in January 2021 were 8,820, down from 9,307 in January 2020 and from 11,427 in January 2018. With the current sales-to-listing ratio pace, there is a mere four months of inventory in the entire Greater Vancouver housing market.


Looking at the different types of property sales in Greater Vancouver, January 2021 detached home sales were up 41.8% year-over-year while new listings declined 0.4%; townhouse sales were up 42.8% year-over-year while new listings increased 16%; condominium apartment sales advanced 46.8% and new listings for condos increased by 27% year-over-year. Sales of detached houses in January made up 30% of all sales, compared to 27% in January 2020; townhouses represented 18% of sales, down from 20% a year earlier; and condo apartment sales made up 49% of total sales this January, compared to 51% in January 2020.


JANUARY 2021 HIGHLIGHTS

  • Average composite home price increase year-over-year in Greater Vancouver: 10.8%

  • Biggest detached house price increase year-over-year: Bowen Island (up 30%)

  • Biggest detached house price increase, mainland: Port Coquitlam and Pitt Meadows (up 15.4%)

  • Lowest benchmark condo price: Maple Ridge ($375,000)

  • Source: Real Estate Board of Greater Vancouver


Vancouver Westside: The Westside is the traditional bellwether for aspirational house buyers in Canada and January will be a month to remember, with detached sales rising 100% compared to the same month in either 2020 or 2019. The average price of the 68 Westside houses sold in January was $3,718,280, an increase of $450,000 from a year earlier.

In the townhouse sector, the 38 sales in January matched the record-setting December 2020 sales pace and were up 26% from January 2020. A slight increase in inventory  106 new listings were added in the month - kept average January townhouse prices in check, rising about $20,000 from a month earlier to $1,411,711.

The Westside condominium market saw January sales increasing 35% from January 2020, to 285 transactions. This was the lowest monthly sales level since July 2020, which may be a reaction to a frustrating lack of listings. Just 639 new listings came to the market in January, down 21% from the same month a year earlier. The average price of a Westside condo apartment is now $934,550, up more than $38,000 from December 2020, and multiple bids are not uncommon.

Vancouver Eastside: The line between the Eastside and Westside of Vancouver is rapidly blurring and this January was the latest indication. More detached houses sold on the Eastside – 109 – in January than on the Westside  68  a trend apparent for some time. Over the past five years, the price of an Eastside detached house increased 24% while it advanced just 9% on the Westside. In the past 12 months, the average Eastside house price increased by $20,000 per month – to $1,829,643 in January - yet prices are still half that of a detached house west of Quebec Street. Watch for rising demand and prices for Eastside houses and residential land from Renfrew Street to Mount Pleasant as the new Broadway Corridor SkyTrain line moves closer to reality. New Listings for Eastside houses in January were 175, resulting in a sales-to-new-listing ratio of 62%, slightly above the 2020 average.

Eastside townhouse sales were relatively robust in January. The 48 transactions in the month were down from the 66-unit per month average in the fourth quarter of 2020, but up 60% from January 2020. New listings, at 103, were the highest in two months and the sales-to-new-listing ratio was a healthy 47%. The average price of an Eastside townhouse in January reached $1,152,453, up 2.6% from a year earlier.

While Eastside condo sales in January were up from the 78 units In January 2020, the 99 sales were at the lowest monthly level since June of last year. The average condo price now is $680,177, up 10% from January 2020 and approximately $48,000 higher than in December 2020. With 216 new listings in January, the sales-to-new-listing ratio was 46%, indicating a seller’s market.

North Vancouver: Sales of detached houses in North Vancouver soared 87% in January compared to January 2020, but new listings fell by 33%, and the effect was reflected in prices. The average price of the 45 houses sold in January was $2,144,851, up from just over $1.89 million in December.

There were 67 new listings for townhouses in January, the highest level in five months, and 61% of them sold at an average price of $1,184,760, a price up 14% from January 2020.

After four months of hectic action with condominium apartment sales averaging 130 units per month, North Vancouver condo sales slipped to 92 in January, but represented 52% of the new listings added in the month. The average condo apartment price is now $708,656, up 15% from January 2020.

West Vancouver: Detached houses, which are the dominate property type in West Vancouver, notched 29 sales during January at an average price of $3,983,544. January sales were just eight units above January 2020 and the new listings, at 135, were up by just one house. The big difference was the January average price, which soared 21% - or $714,000  higher than in the same month a year ago.

Richmond: There was a moderate cooling of the red-hot Richmond detached house sales, with transactions dipping to 71 houses in January, the slowest monthly level since May 2020, though 36% above January 2020. With the sales-to-new listing ratio at 47%, the average house price was up nearly 5% year-over-year to $1,749,213 in January.

There was much-needed increase in townhouse listings in Richmond, with 137 units added in January, the highest level in four months. This is partly due to city zoning which has encouraged townhouse development on major Richmond streets since 2017. January sales of 64 townhouses represented 47% of all new listings. The average townhouse price in January was $911,959, up 9% from January 2020.

Condominium apartment sales in Richmond reached 141 units in January, up from 101 transactions in January 2020. With 303 new listings added, the sales-to-new-listing ratio was 47%, slightly lower than the 54% ratio seen in 2020. The average price of a Richmond condo is $613,385, up about 3% from a year earlier and approximately $49,000 above the average price in December 2020.

Burnaby East: The low inventory of detached houses was very apparent in Burnaby East, where buyers snapped up 80% of the new listings – 10  that were added to the January market. The eight houses sold went for an average of $1,560,625,up 23% from January 2020.

The townhouse market was even tighter, with the 6 sales representing 100% of the new listings added in January. The resultant multiple bids drove the average townhouse price up 17%  about $124,000  from December 2020.

Based on the current sales pace, there is only a three-month supply of condo apartments in Burnaby East, where the 13 sales in January absorbed 48% of the new listings. The January average condo price, at $607,284, compares to $563,914 year ago.

Burnaby North: The price of a detached house in Burnaby North reached a record high average of $1,704,836 in January as 22 houses sold, representing a sales-to-new listing ratio of 71%. Total active listings, at 68 in January, are at the lowest level in at least two years.

Sales of townhouses reached 22 in January, the lowest level in seven months, but this is likely a reflection of few new listings. With just 31 townhouses added to the market and active listings at two-year lows, the January sales-to-new-listing ratio was 71%. The average Burnaby North townhouse sold in January for $982,916, up 14% from January 2020.

Condo apartment sales continued the blistering pace seen in 2020, with 96 transactions in January, up 74% from January 2020. With 180 new listings, North Burnaby’s condo sales-to-new-listing ratio was 53%. The average condo price slipped down 4% from a year ago, to $597,117.

Burnaby South: With 26 detached house sales in January, transactions were close to the monthly average over the past 12 months and active listings, at 120, were also fairly constant in this very stable market. The outlier is average house prices, which have been rising steadily and reached $1,742,741 in January, up $285,000 from a year earlier.

Townhouse sales reached 30 in January, up 108% from January 2020 and higher than the 25 transactions in December 2020. With 41 new listings added, the January sales-to-new-listing ratio was 73%, compared to 54% during 2020. Townhouses in Burnaby South sold in January for an average of $1,007,309, up about $54,000 from the end of last year.

Condominium apartment sales continued the strong pace seen over the past seven months, with 87 transactions in January, representing 58% of the 150 new listing added in the month. The supply of condos is estimated at four months, if the current sales pace continues. The average condo price, at $625,937, is up from $595,215 in January 2020.

New Westminster: Detached house sales in New Westminster saw a three-fold increase in January compared to the same month last year, to 21 transactions, representing a startling sales-to-new listing ratio of 84%. The average house price

remained fairly constant in one of the more affordable housing markets in Greater Vancouver. The average house sold in January for $1,285,528, a 4.3% increase, year-over-year.

Townhouse buyers closed on 14 units in January, compared to four in the same month last year, but sales were below the 25-unit average pace over the final six months of 2020. With 28 new listings in January, the sales-to-new-listing was 50%, with the average price virtually unchanged from December 2020 at $727,435.

New Westminster’s year-over-year condo apartment market sales were higher in January, but, at 66 transaction, well below December’s 103 sales. An increase in new listings, to 159 units, kept the sales ratio at 43%, similar to the first month of 2020. The average condo price in January was $543,870, up 9% from December but down about $20,000 from January 2020.

Coquitlam: More Coquitlam detached houses sold in January 2021  76- than in Burnaby and New Westminster combined, an indication of Coquitlam’s growing popularity. The average Coquitlam detached house sold in January for $1,566,814, up 20% year-over-year, while 67% of the new listings sold.

Coquitlam’s townhouse sector saw January sales drop nearly 50% from December, to 38 transactions, but the average price was up 12% year-over-year to $864,957.

Coquitlam condo apartment sales in January, at 106 units, tracked close to the record monthly pace seen in 2020. With 149 condo listings added in January, the sales ratio was 71%, with average prices up $52,000 year-over-year at $574,407.

Port Moody: Since the extension of SkyTrain to the waterfront community, detached house prices have increased sharply. In January 2021, the average Port Moody house price hit a near-record of $1,611,733. This is up 18% from January 2019 and a startling $419,000 increase from January 2020. There were just 20 new listings for detached houses in January 2021, along with 9 sales. Multiple bids are being seen.

Port Moody has a small townhouse market, certainly not enough to meet demand. Through the last quarter of 2020, the sales-to-new-listing ratio was running at 100%. This dipped to 60% in January, with 9 sales from 15 new listings, but the average price climbed to $827,533, up from $769,900 a year earlier.

The condo inventory in Port Moody is mostly composed of new units built since the arrival of SkyTrain in 2016. There is fairly healthy selection, but units sell quickly. In January, with 28 transactions, the sales ratio to new listings was 76%, the second-highest level in a year. The average Port Moody condo price, based on 28 January sales, is now $608,357, highest in the Tri-Cities market.

Port Coquitlam: In January, the city made it easier to build laneway houses on detached-house lot by removing the need for public hearings, which is expected to fuel already hot detached-house sales. Port Coquitlam detached house sales reached 33 units in January, 2021, up from 29 in the month previous and 22 in January 2020. The average house price soared year-over-year from $875,000 to $1,211,787 in January 2021.

Port Coquitlam townhouse prices, at an average of $693,241 in January, are the lowest in the Tri-City region and have remained fairly stable, rising 4.5% year-over-year. January sales, at 18, represented 64% of the new townhouse listings in the month.

Port Coquitlam condo buyers experienced a rarity in January, as the average price of $438,247 was down from a year ago and lower than in December 2020. With just a two-month condo supply available and 49% of new listings selling in January, upward pressure on condo prices could be seen this year.

Ladner: In January, Delta eased the regulations for secondary suites in houses, eliminating the minimum 49-foot lot width and easing parking restrictions. The change will allow more house owners to include a ‘mortgage helper’ rental suite and may increase buyer demand for Ladner houses. In January, 15 detached houses sold in Ladner, representing 63% of the new listings, at an average price of $1,249,066. House sales and prices have remained fairly constant over the past year.

Ladner has seen an increase in townhouse construction over the past year, but the inventory of resale units remains tight. There were only six active listings in January, and just 1 unit sold, for $820,000.

January saw only 3 condo sales at an average price of $645,666, but buyers should know there has been a recent surge in new listings, rising to 21 units in January, the highest level since January 2020.

Tsawwassen: Detached house sales in Tsawwassen have been accelerating for some time but shifted to a higher gear in recent months. The result has been a reduction in detached-house supply to three months, and average prices rising about $90,000 in the past year. In January 30 houses sold, up from 9 in the same month last year. The average house price hit $1,363,083, up from $1,276,736 in January 2020. There were 85 total house listings on the market this January, the lowest level in more than two years.

Tsawwassen is a smallish community, and townhouse sales reflect that, with just 20 total listings and 9 sales in January. The average townhouse price is now $779,300, down slightly from January of last year.

There were 15 condo sales in January and the sales-to-new-listing ratio was 63%, signalling a seller’s market. Average condo prices, at $628,406, are up from $587,877 a year ago, mirroring price increases in much larger municipalities.

Pitt Meadows: The benchmark price of detached house in Pitt Meadows has inched above $1 million, at $1,013,200 in January 2021, a 15.4% increase year-over-year and tied with Port Coquitlam for the highest annual detached house price increase in Greater Vancouver.

Townhouse prices in Pitt Meadows in January were up 3.9% year-over-year to $622,100.

The benchmark condo apartment price increased to $603,200 in January 2021, up 6.3% from January 2020.

Maple Ridge: Maple Ridge posted the lowest benchmark in Greater Vancouver in January, at $930,900, a price up 15% year-over-year and nearly 3% higher than in December 2020.

Detached sales in the region (including neighbouring Pitt Meadows) were up 41% year-over-year to 95 transactions.

The benchmark townhouse price in Maple Ridge is $561,800, up 7.6% from this time last year and townhouse sales increased a stunning 83% to 68 units in the region. There were 79 new listings for townhouses in the regional market as of January.

Maple Ridge condominium apartment prices increased 9.1% from a year earlier in January 2021 to $373,500, the lowest benchmark condo price in Greater Vancouver, which may explain why the sales-to-new-listing ratio was an impressive 79% in January.


Download January Sales and Listings Statistics Houses Townhouses Condos


Download January Sales and Listings Statistics All Regional



Market Update Greater Vancouver January 2021


From The Real Estate Board of Greater Vancouver
February 2, 2021

Home buyer demand remains elevated across Metro Vancouver

 

In the first month of 2021, Metro Vancouver’s* housing market continued the pattern set at the end of last year with home sale activity outpacing the supply of homes listed for sale. 

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,389 in January 2021, a 52.1 per cent increase from the 1,571 sales recorded in January 2020, and a 22.8 per cent decrease from the 3,093 homes sold in December 2020. 

 

Last month’s sales were 36.4 per cent above the 10-year January sales average. 

 

“With home sale activity well above our January average, the supply of homes for sale isn’t able to keep pace,” Colette Gerber, REBGV Chair said. “This is causing increased competition amongst home buyers and upward pressure on prices.” 

 

There were 4,480 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2021. This represents a 15.7 per cent increase compared to the 3,872 homes listed in January 2020 and an 86 per cent increase compared to December 2020 when 2,409 homes were listed. 

 

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,306, a 3.6 per cent decrease compared to January 2020 (8,617) and a 2.7 per cent decrease compared to December 2020 (8,538). 

 

For all property types, the sales-to-active listings ratio for January 2021 is 28.8 per cent. By property type, the ratio is 26.3 per cent for detached homes, 37.6 per cent for townhomes, and 27.8 per cent for apartments. 

 

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months. 

 

“Shifting housing needs during the pandemic and historically low interest rates have been key drivers of demand in our market over the last six months,” Gerber said. “People who managed to enter the market a few years ago, and have seen their home values increase, are now looking to move up in the market to accommodate their changing needs.” 

 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,056,600. This represents a 5.5 per cent increase compared to January 2020 and a 0.9 per cent increase compared to December 2020. 

 

Sales of detached homes in January 2021 reached 740, a 68.6 per cent increase from the 439 detached sales recorded in January 2020. The benchmark price of a detached homes is $1,576,800. This represents a 10.8 per cent increase from January 2020 and a 1.4 per cent increase compared to December 2020. 

 

Sales of apartment homes reached 1,195 in January 2021, a 46.8 per cent increase compared to the 814 sales in January 2020. The benchmark price of an apartment home is $680,800. This represents a 2.2 per cent increase from January 2020 and a 0.6 per cent increase compared to December 2020. 

 

Attached home sales in January 2021 totalled 454, a 42.8 per cent increase compared to the 318 sales in January 2020. The benchmark price of an attached home is $815,800. This represents a 4.3 per cent increase from January 2020 and a 0.2 per cent increase compared to December 2020.

 

Download the January 2021 stats package



Sales and Listing Statistics Near Year End 2020, Greater Vancouver Region


The real estate market in Greater Vancouver has really outperformed this year despite the pandemic.  For example the West Side inventory of single family homes has shimmied down from 15 months of supply in January to 6 months supply in December with sales volume up about 18% year over year.  We've had 889 West Side single family homes sell so far this year as compared with 752 last year, while supply is significantly lower this year.  This is good news after over two years of slump.  As the supply has diminished the benchmark prices have risen slightly.  

 

Have a look at the numbers for detached, townhome and apartment properties in the Greater Vancouver regions:

december 14 2020 sales and listing stats

 

 

SEVEN DAYS UNTIL CHRISTMAS

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Weekly Greater Vancouver Sales Trends During COVID Show Why We Are LOW On Inventory


Here is why we have such a competitive real estate market in a nutshell.  The weekly listing count is neck in neck with the weekly sales count leaving a shortage of inventory to choose from.  This is happening while we have virtually no foreign Buyers in the market so there goes that line of thinking as to who to blame for our high housing prices.

Greater Vancouver Average Daily Listings and Sales:

 
First two weeks of March – 253 new listings, 138 sales
Last two weeks of March – 167 New Listings, 98 Sales
April – 120 new listings, 56 sales
May – 189 new listings, 75 sales
June – 274 new listings, 115 sales
July – 274 new listings, 147 sales
August - 299 new listings, 157 sales
September – 313 new listings, 176 sales
October – 272 new listings, 182 sales
November 2 to 6 – 236 new listings, 151 sales
November 9 to 13 – 253 new listings, 188 sales
November 16 to 20 – 191 new listings, 155 sales
November 23 to 27 – 166 new listings, 149 sales
November 30 to December 4 – 165 new listings, 163 sales
December 7 to 11 – 147 new listings, 140 sales



Market Insights


October 2020 Market Insights

REBGV Chair Colette Gerber provides a summary of the October 2020 housing market statistics.

october 2020 market insights



October 2020 Vancouver Real Estate Stats


From Real Estate Board of Greater Vancouver
November 3, 2020

Home sale and listing resurgence extends into the fall

 

Home sale and new listing activity remained at near record levels across Metro Vancouver in October.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,687 in October 2020, a 29 per cent increase from the 2,858 sales recorded in October 2019, and a 1.2 per cent increase from the 3,643 homes sold in September 2020.

 

Last month’s sales were 34.7 per cent above the 10-year October sales average and stands as the second-highest total on record for the month.

 

“Home has been a focus for residents during the pandemic. With more days and evenings spent at home this year, people are re-thinking their housing situation," Colette Gerber, REBGV Chair said. “Throughout this period, REALTORS® have been working to understand and adapt to the latest safety protocols so that they can continue to help the public meet their housing needs in a safe and responsible way.”

 

There were 5,571 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in October 2020. This represents a 36.7 per cent increase compared to the 4,074 homes listed in October 2019 and a 13 per cent decrease compared to September 2020 when 6,402 homes were listed. 

 

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 12,416, a 1.5 per cent increase compared to October 2019 (12,236) and a 5.2 per cent decrease compared to September 2020 (13,096).

 

“With demand on the rise, homes priced right for today’s market are receiving attention and, at times, garnering multiple offers," Gerber said. "To understand the market conditions in your neighbourhood and property type of choice, work with your local REALTOR® to assess the latest MLS® housing market information."

 

For all property types, the sales-to-active listings ratio for October 2020 is 29.7 per cent. By property type, the ratio is 30.9 per cent for detached homes, 43.5 per cent for townhomes, and 24.9 per cent for apartments.

 

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,045,100. This represents a six per cent increase over October 2019 and a 0.4 per cent increase compared to September 2020.

 

Sales of detached homes in October 2020 reached 1,335, a 42.3 per cent increase from the 938 detached sales recorded in October 2019. The benchmark price for a detached home is $1,523,800. This represents an 8.5 per cent increase from October 2019 and a 1.1 per cent increase compared to September 2020.

 

Sales of apartment homes reached 1,570 in October 2020, a 13.4 per cent increase compared to the 1,384 sales in October 2019. The benchmark price of an apartment property is $683,500. This represents a 4.4 per cent increase from October 2019 and is unchanged compared to September 2020.

 

Attached home sales in October 2020 totalled 782, a 45.9 per cent increase compared to the 536 sales in October 2019. The benchmark price of an attached home is $813,000. This represents a 5.4 per cent increase from October 2019 and a 0.4 per cent increase compared to September 2020.

 

Download the October 2020 stats package



September 2020 Stats for Greater Vancouver


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News Release

FOR IMMEDIATE RELEASE:

Metro Vancouver home sales and listings surge in September VANCOUVER, BC – October 2, 2020 – Home sale and new listing activity reached record

levels in Metro Vancouver* in September.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,643 in September 2020, a 56.2 per cent increase from the 2,333 sales recorded in September 2019, and a 19.6 per cent increase from the 3,047 homes sold in August 2020.

Last month’s sales were 44.8 per cent above the 10-year September sales average and is the highest total on record for the month.

“We've seen robust home sale and listing activity across Metro Vancouver throughout the summer months," Colette Gerber, REBGV Chair said. "This increased activity can be attributed, in part, to lower interest rates and changing housing needs during the COVID-19 pandemic."

There were 6,402 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in September 2020. This represents a 31.6 per cent increase compared to the 4,866 homes listed in September 2019 and a 10.1 per cent increase compared to August 2020 when 5,813 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 13,096, a 2.6 per cent decrease compared to September 2019 (13,439) and a 2.3 per cent increase compared to August 2020 (12,803).

"While the pace of new MLS® listings entering the market is increasing, the heightened demand from home buyers is keeping overall supply levels down," Gerber said. "This is creating upward pressure on home prices, which have been edging up since the spring."

For all property types, the sales-to-active listings ratio for September 2020 is 27.8 per cent. By property type, the ratio is 28.3 per cent for detached homes, 36.1 per cent for townhomes, and 24.8 per cent for apartments.

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,041,300. This represents a 5.8 per cent increase over September 2019, and a 0.3 per cent increase compared to August 2020.

Sales of detached homes in September 2020 reached 1,317, a 76.8 per cent increase from the 745 detached sales recorded in September 2019. The benchmark price for detached properties is $1,507,500. This represents a 7.8 per cent increase from September 2019 and a 1.1 per cent increase compared to August 2020.

Sales of apartment homes reached 1,596 in September 2020, a 36.9 per cent increase compared to the 1,166 sales in September 2019. The benchmark price of an apartment property is $683,500. This represents a 4.5 per cent increase from September 2019 and a 0.3 per cent decrease compared to August 2020.

Attached home sales in September 2020 totalled 730, a 73 per cent increase compared to the 422 sales in September 2019. The benchmark price of an attached unit is $809,900. This represents a 5.2 per cent increase from September 2019 and a 0.4 per cent increase compared to August 2020.

 

FULL STATS PACKAGE

 

 

 

*Editor’s Note: Areas covered by the Real Estate Board of Greater Vancouver include: Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.

 

 



Stats for August 2020 Greater Vancouver


H-Info-August-2020

Home sale and new listing activity reached record levels in Metro Vancouver in September.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,643 in September 2020, a 56.2 per cent increase from the 2,333 sales recorded in September 2019, and a 19.6 per cent increase from the 3,047 homes sold in August 2020.

Last month’s sales were 44.8 per cent above the 10-year September sales average and is the highest total on record for the month.

“We've seen robust home sale and listing activity across Metro Vancouver throughout the summer months," Colette Gerber, REBGV Chair said. "This increased activity can be attributed, in part, to lower interest rates and changing housing needs during the COVID-19 pandemic."

There were 6,402 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in September 2020. This represents a 31.6 per cent increase compared to the 4,866 homes listed in September 2019 and a 10.1 per cent increase compared to August 2020 when 5,813 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 13,096, a 2.6 per cent decrease compared to September 2019 (13,439) and a 2.3 per cent increase compared to August 2020 (12,803).

"While the pace of new MLS® listings entering the market is increasing, the heightened demand from home buyers is keeping overall supply levels down," Gerber said. "This is creating upward pressure on home prices, which have been edging up since the spring."

For all property types, the sales-to-active listings ratio for September 2020 is 27.8 per cent. By property type, the ratio is 28.3 per cent for detached homes, 36.1 per cent for townhomes, and 24.8 per cent for apartments.

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,041,300. This represents a 5.8 per cent increase over September 2019, and a 0.3 per cent increase compared to August 2020.

Sales of detached homes in September 2020 reached 1,317, a 76.8 per cent increase from the 745 detached sales recorded in September 2019. The benchmark price for detached properties is $1,507,500. This represents a 7.8 per cent increase from September 2019 and a 1.1 per cent increase compared to August 2020.

Sales of apartment homes reached 1,596 in September 2020, a 36.9 per cent increase compared to the 1,166 sales in September 2019. The benchmark price of an apartment property is $683,500. This represents a 4.5 per cent increase from September 2019 and a 0.3 per cent decrease compared to August 2020.

Attached home sales in September 2020 totalled 730, a 73 per cent increase compared to the 422 sales in September 2019. The benchmark price of an attached unit is $809,900. This represents a 5.2 per cent increase from September 2019 and a 0.4 per cent increase compared to August 2020.       

Note:

Areas covered by the Real Estate Board of Greater Vancouver include: Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.



January Stats Package from Dexter Realty


 

Want to see out full stats package?  Click here:  sales and listings statistics for greater vancouver houses townhouses and condos



October Statistics from Real Estate Board of Greater Vancouver


Home buyer activity increases in October VANCOUVER, BC – November 4, 2019 – The Metro Vancouver* housing market is experiencing a fall pickup in home sale activity. 

Click here for details from Real Estate Board of Greater Vancouver

 

Click here for october dexter stats 



September Stats Show Good Improvement in Market


Increased demand helps housing market reach balanced territory

Home buyer demand has returned to more historically typical levels in Metro Vancouver over the last three months.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,333 in September 2019, a 46.3 per cent increase from the 1,595 sales recorded in September 2018, and a 4.6 per cent increase from the 2,231 homes sold in August 2019.

 

Last month’s sales were 1.7 per cent below the 10-year September sales average.

 

“We’re seeing more balanced housing market conditions over the last three months compared to what we saw at this time last year,” Ashley Smith, REBGV president said. “Home buyers are more willing to make offers today, particularly in the townhome and apartment markets.”

 

There were 4,866 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in September 2019. This represents a 7.8 per cent decrease compared to the 5,279 homes listed in September 2018 and a 29.9 per cent increase compared to August 2019 when 3,747 homes were listed.

 

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 13,439, a 2.7 per cent increase compared to September 2018 (13,084) and a 0.3 per cent increase compared to August 2019 (13,396).

 

For all property types, the sales-to-active listings ratio for September 2019 is 17.4 per cent. By property type, the ratio is 12.7 per cent for detached homes, 18.9 per cent for townhomes, and 21.9 per cent for apartments.

 

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

 

“This is a more comfortable market for people on both sides of a real estate transaction,” said Smith. “Home sale and listing activity were both at typical levels for our region in September.”

 

The MLS® Home Price Index composite benchmark price for all residential homes in Metro Vancouver is currently $990,600. This represents a 7.3 per cent decrease over September 2018 and a 0.3 per cent decrease compared to August 2019.

 

Sales of detached homes in September 2019 reached 745, a 46.7 per cent increase from the 508 detached sales recorded in September 2018. The benchmark price for a detached home is $1,406,200. This represents an 8.6 per cent decrease from September 2018 and is virtually unchanged compared to August 2019.

 

Sales of apartment homes reached 1,166 in September 2019, a 43.6 per cent increase compared to the 812 sales in September 2018. The benchmark price of an apartment property is $651,500. This represents a 6.5 per cent decrease from September 2018 and a 0.4 per cent decrease compared to August 2019.

 

Attached home sales in September 2019 totalled 422, a 53.5 per cent increase compared to the 275 sales in September 2018. The benchmark price of an attached home is $767,500. This represents a 7.2 per cent decrease from September 2018 and a 0.6 per cent decrease compared to August 2019.

 

Download the September 2019 stats package

 

Stats by housing type and price:

metro vancouver b



June Sales Reveal Inventory Is Not Fulsome


 

 Inventory levels are running about 10% below the 10 year average and as a result in spite of slower than normal sales we are seeing more multiple offers on properties in the past month because pricing has caught up to market reality and there is only a moderate supply.

 

 

resized june stats

Full Stats Package here

 



February 2019 Stats from REBGV


Housing market conditions continue to favour home buyers

The Metro Vancouver housing market saw increased supply from home sellers and below average demand from home buyers in February.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,484 in February 2019, a 32.8 per cent decrease from the 2,207 sales recorded in February 2018, and a 34.5 per cent increase from the 1,103 homes sold in January 2019.

Last month’s sales were 42.5 per cent below the 10-year February sales average.

“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, REBGV president said. “This means that home buyers face less competition today, have more selection to choose from and more time to make their decisions.”

There were 3,892 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in February 2019. This represents a 7.8 per cent decrease compared to the 4,223 homes listed in February 2018 and a 19.7 per cent decrease compared to the 4,848 homes listed in January 2019.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 11,590, a 48.2 per cent increase compared to February 2018 (7,822) and a 7.2 per cent increase compared to January 2019 (10,808).

For all property types, the sales-to-active listings ratio for February 2019 is 12.8 per cent.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“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 MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,016,600. This represents a 6.1 per cent decrease over February 2018, a 6.2 per cent decrease over the past six months, and a 0.3 per cent decrease compared to January 2019.

Sales of detached homes in February 2019 reached 448, a 27.9 per decrease cent from the 621 detached sales recorded in February 2018. The benchmark price for detached properties is $1,443,100. This represents a 9.7 per cent decrease from February 2018, a 7.6 per cent decrease over the past six months, and a 0.7 per cent decrease compared to January 2019.

Sales of apartment homes reached 759 in February 2019, a 35.9 per cent decrease compared to the 1,185 sales in February 2018. The benchmark price of an apartment property is $660,300. This represents a four per cent decrease from February 2018, a 5.1 per cent decrease over the past six months, and a 0.3 per cent increase compared to January 2019.

Attached home sales in February 2019 totalled 277, a 30.9 per cent decrease compared to the 401 sales in February 2018. The benchmark price of an attached unit is $789,300. This represents a 3.3 per cent decrease from February 2018, a 6.7 per cent decrease over the past six months, and a 1.4 per cent decrease compared to January 2019.

Download the February 2019 stats package.



November Stats Don't Tell the Whole Story


The numbers aren't pretty for Sellers as compared with the past two years, with 24 months of inventory in West Vancouver and East and West Vancouver houses sitting at 13 months inventory. Listingss haven't been increasing drastically however, it is sales that have slowed and with it prices have seen a modest drop which is averaging around 5% overall.  Single family West Side homes have seen the greatest price adjustments, down up to 20% from the highs of 2017 in some cases.  The bulk of the market where most activity takes place--that is condos and townhomes-- has seen a balancing since June and the result is a return to more normal conditions.  Buyers can shop around and write offers with proper due diligence contingencies like home inspection.  This is a perfect market for financially qualified first time buyers and move up buyers who can likely get an accepted subject to sale offer accepted.

Below are the statistics for November sales averages.  They do not tell the whole story though.  For example the West Side condo market under $600,000. actually has only 4 months of supply: 136 active listings and 31 sales in November and half of these listings are priced between $550K and $600K.  At the entry level of the market there is still competition but far less than we have seen since 2012.  With interest rates likely to rise again in March, saavy buyers will see December and January as an opportunity to buy without competition and below the 10 historical average for activity.  Waiting for a bottom is a tricky game.  We can't see it until it has passed and the market is on the way up.  

 

 sales and listings statistics houses townhouses and apartments for november 2018

 

skyline



September Sales Video from REBGV



August Statistics from Real Estate Board of Greater Vancouver


Home buyer demand stays below historical averages in August

The Metro Vancouver* housing market continues to experience reduced demand across all housing types.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,929 in August 2018, a 36.6 per cent decrease from the 3,043 sales recorded in August 2017, and a 6.8 per cent decline compared to July 2018 when 2,070 homes sold.

Last month’s sales were 25.2 per cent below the 10-year August sales average.

“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, REBGVpresident said. “Buyers today have more listings to choose from and face less competition than we’ve seen in our market in recent years.”

There were 3,881 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in August 2018. This represents an 8.6 per cent decrease compared to the 4,245 homes listed in August 2017 and an 18.6 per cent decrease compared to July 2018 when 4,770 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 11,824, a 34.3 per cent increase compared to August 2017 (8,807) and a 2.6 per cent decrease compared to July 2018 (12,137).

The sales-to-active listings ratio for August 2018 is 16.3 per cent. By housing type, the ratio is 9.2 per cent for detached homes, 19.4 per cent for townhomes, and 26.6 per cent for apartments.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“With fewer buyers active in the market, benchmark prices across all three housing categories have declined for two consecutive months across the region,” Moore said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,083,400. This represents a 4.1 per cent increase over August 2017 and a 1.9 per cent decrease since May 2018.

Sales of detached properties in August 2018 reached 567, a 37.1 per cent decrease from the 901 detached sales recorded in August 2017. The benchmark price for detached properties is $1,561,000. This represents a 3.1 per cent decrease from August 2017 and a 2.8 per cent decrease since May 2018.

Sales of apartment properties reached 1,025 in August 2018, 36.5 per cent decrease compared to the 1,613 sales in August 2017. The benchmark price of an apartment property is $695,500. This represents a 10.3 per cent increase from August 2017 and a 1.6 per cent decrease since May 2018.

Attached property sales in August 2018 totalled 337, a 36.3 per cent decrease compared to the 529 sales in August 2017. The benchmark price of an attached unit is $846,100. This represents a 7.9 per cent increase from August 2017 and a 0.8 per cent decrease since May 2018.

Click here to download the full package.



August statistics


 

Sales have slackened and prices are adjusting down.  We are very likely approaching one of those rare Vancouver good time to buy cycles which we haven't seen since about 2012

Here are the numbers at the end of August

sales and listings statistics houses townhouses condos for august 2018

 



Market Update January 2018


Market update from Real Estate Board of Greater Vancouver

 

january 2018 market summary 



Market Update September 2017 stats


 

 

Home buyer demand continues to differ based on housing type

Apartment and townhome activity is outpacing the detached home market across Metro Vancouver. This activity helped push total residential sales above the historical average in September.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,821 in September 2017, a 25.2 per cent increase from the 2,253 sales recorded in September 2016, and a 7.3 per cent decrease compared to August 2017 when 3,043 homes sold.

Last month’s sales were 13.1 per cent above the 10-year September sales average.

“Our detached homes market is balanced today, while apartment and townhome sales remain in sellers’ market territory,” Jill Oudil, REBGV president said. “If you’re looking to enter the market, as either a buyer or seller, it’s important to understand these trends and use this information to set realistic expectations.”

There were 5,375 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in September 2017. This represents a 12 per cent increase compared to the 4,799 homes listed in September 2016 and a 26.6 per cent increase compared to August 2017 when 4,245 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,466, a 1.2 per cent increase compared to September 2016 (9,354) and a 7.5 per cent increase compared to August 2017 (8,807).

“Detached homes made up 30 per cent of all sales in September and represented 62 per cent of all the homes listed for sale on the MLS®,” said Oudil. “This dynamic has slowed the pace of upward pressure that we’ve seen on detached home prices in our market over the last few years.”

For all property types, the sales-to-active listings ratio for September 2017 is 29.8 per cent. By property type, the ratio is 14.6 per cent for detached homes, 42.3 per cent for townhomes, and 60.4 per cent for apartments.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,037,300. This represents a 10.9 per cent increase over September 2016 and a 0.7 per cent increase compared to August 2017.

Sales of detached properties in September 2017 reached 852, a 27.9 per cent increase from the sales recorded in September 2016 (666), a decrease of 33 per cent from September 2015 (1,272), and a decrease of 32.9 per cent from September 2014 (1,270). The benchmark price for detached properties is $1,617,300. This represents a 2.9 per cent increase from September 2016 and a 0.1 per cent increase compared to August 2017.

Sales of apartment properties reached 1,451 in September 2017, a 19.1 per cent increase compared from the sales recorded in September 2016 (1,218), a 5.1 per cent decrease from September 2015 (1,529), and a 22.1 per cent increase from September 2014 (1,188). The benchmark price of an apartment property is $635,800. This represents a 21.7 per cent increase from September 2016 and a 1.4 per cent increase compared to August 2017.

Attached property sales in September 2017 totalled 518, a 40.4 per cent increase compared to the sales recorded in September 2016 (369), a 4.8 per cent decrease from September 2015 (544), and an 11.6 per cent increase from September 2014 (464). The benchmark price of an attached home is $786,600. This represents a 14.5 per cent increase from September 2016 and a 1.1 per cent increase compared to August 2017.

Click here to download the full package.



Vancouver West Stats for June 2017


Click below for the Real Estate Board of Greater Vancouver's stats for June 2017: 

 

Vancouver West Stats June 2017

 

 

West Side condo listings are down over 17% year over year and as a result of low inventory condo sales are down 20% year over year.

West Side detached listings are up 10% year over year while sales are off by 25% year over year and days on market are up 20%.

West Side town home supply is up over 20% in a year, while sales are off close to 5% and are taking 26% longer to sell than last year.

 

All types of West Side homes have seen price increases since last year with condos up over 10% on the benchmark price.

 

 



May 2017 Stats


 

click for full stats package

May Stats from Real Estate Board of Greater Vancouver

 

 

June 2, 2017

 

Market activity picks up in May

Home buyer activity returned to near record levels across the Metro Vancouver housing market in May.

Residential property sales in the region totalled 4,364 in May 2017, a decrease of 8.5 per cent from the 4,769 sales in May 2016, an all-time record, and an increase of 22.8 per cent compared to April 2017 when 3,553 homes sold.

Last month’s sales were 23.7 per cent above the 10-year May sales average and is the third-highest selling May on record.

"Demand for condominiums and townhomes is driving today’s activity," Jill Oudil, Real Estate Board of Greater Vancouver (REBGV) president said. “First-time buyers and people looking to downsize from their single-family homes are both competing for these two types of housing.”

New listings for detached, attached and apartment properties in Metro Vancouver totalled 6,044 in May 2017. This represents a 3.9 per cent decrease compared to the 6,289 units listed in May 2016 and a 23.2 per cent increase compared to April 2017 when 4,907 homes were listed.

The month-over-month increase in new listings was led by detached homes at 27.1 per cent, followed by apartments at 22.7 per cent and townhomes at 14.1 per cent.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 8,168, a 5.7 per cent increase compared to May 2016 (7,726) and a 4.5 per cent increase compared to April 2017 (7,813).

"Home buyers are beginning to have more selection to choose from in the detached market, but the number of condominiums for sale continues to decline," Oudil said.

The sales-to-active listings ratio across all residential categories is 53.4 per cent. By property type, the ratio is 31 per cent for detached homes, 76.1 per cent for townhomes, and 94.6 per cent for condominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“While sales are inching closer to the record-breaking pace of 2016, the market itself looks different. Sales last year were driven by demand for single-family homes. This year, it's clear that townhomes and condominiums are leading the way,” said Oudil. “It’s important to work with your local REALTOR® to understand the different factors affecting the market today.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $967,500. This represents an 8.8 per cent increase over May 2016 and a 2.8 per cent increase compared to April 2017.

Sales of detached properties in May 2017 reached 1,548, a decrease of 17 per cent from the 1,865 detached sales recorded in May 2016. The benchmark price for a detached property is $1,561,000. This represents a 3.1 per cent increase over May 2016 and a 2.9 per cent increase compared to April 2017.

Sales of apartment properties reached 2,025 in May 2017, a decrease of 5.8 per cent compared to the 2,150 sales in May 2016.The benchmark price for an apartment property is $571,300. This represents a 17.8 per cent increase over May 2016 and a 3.1 per cent increase compared to April 2017.

Attached property sales in May 2017 totalled 791, an increase of 4.9 per cent compared to the 754 sales in May 2016. The benchmark price for an attached property is $715,400. This represents a 13.1 per cent increase over May 2016 and a 1.9 per cent increase compared to April 2017.



April Stats From REBGV


 

 

Condominiums and townhomes in high demand across Metro Vancouver

Demand for condominiums and townhomes continues to drive the Metro Vancouver* housing market.

Residential property sales in the region totalled 3,553 in April 2017, a 25.7 per cent decline compared to April 2016 when 4,781 homes sold and a 0.7 per cent decrease from the 3,579 sales recorded in March 2017.

April sales were 4.8 per cent above the 10-year average for the month.

For the first four months of the year, condominium and townhome sales have comprised a larger percentage of all residential sales on the Multiple Listing Service® (MLS®) in Metro Vancouver. Over this time, they’ve accounted for 68.5 per cent, on average, of all residential sales. This is up 10 per cent from the 58.2 per cent average over the same period last year.

“Our overall market is operating below the record-setting pace from a year ago and is in line with historical spring levels. It’s a different story in our condominium and townhome markets," Jill Oudil, Real Estate Board of Greater Vancouver (REBGV) president said. “Demand has been increasing for months and supply is not keeping pace. This dynamic is causing prices to increase and making multiple offer scenarios the norm.”

New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,907 in April 2017. This represents a decrease of 19.9 per cent compared to the 6,127 units listed in April 2016 and a three per cent increase compared to March 2017 when 4,762 properties were listed.

The total number of residential properties currently listed for sale on the MLS® system in Metro Vancouver is 7,813, a 3.5 per cent increase compared to April 2016 (7,550) and a three per cent increase compared to March 2017 (7,586).

The sales-to-active listings ratio for April 2017 is 45.5 per cent for all property types. This is two per cent below March 2017 and is indicative of a sellers’ market. Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

By property type, the sales-to-active listings ratio is 26 per cent for detached homes, 58.2 per cent for townhomes, and 82.2 per cent for condominiums.

“Until more entry level, or ‘missing middle’, homes are available for sale in our market, we’ll likely continue to see prices increase,” Oudil said. “There’s been record building this past year, but much of that inventory isn’t ready to hit the market.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $941,100. This represents a five per cent increase over the past three months and an 11.4 per cent increase compared to April 2016.

Over the last three months, the benchmark price of condominiums has seen the largest increase in the region at 8.2 per cent, followed by townhomes at 5.3 per cent, and detached homes at 2.8 per cent.

“Home buyers are looking to get into the market and they’re facing fierce competition,” Oudil said. “It’s important to work with your local Realtor to help you navigate today’s marketplace.”

Sales of detached properties in April 2017 reached 1,211, a decrease of 38.8 per cent from the 1,979 detached sales recorded in April 2016. The benchmark price for detached properties is $1,516,500. This represents an 8.1 per cent increase over the last 12 months and a 1.8 per cent increase compared to March 2017.

Sales of apartment, or condominium, properties reached 1,722 in April 2017, a decrease of 18.3 per cent compared to the 2,107 sales in April 2016.The benchmark price of an apartment property is $554,100. This represents a 16.6 per cent increase over the past 12 months and a 3.1 per cent increase compared to March 2017.

Attached, or townhome, property sales in April 2017 totalled 620, a decrease of 10.8 per cent compared to the 695 sales in April 2016. The benchmark price of an attached unit is $701,800. This represents a 15.3 per cent increase over the past 12 months and a 2.4 per cent increase compared to March 2017.

Download the full April 2017 stats package here

 



October Stats From The Real Estate Board of Greater Vancouver


November 2, 2016

Home sale and listing activity dip below historical averages in October

Reduced home sale and listing activity are changing market dynamics in communities across Metro Vancouver*.

Residential property sales in the region totalled 2,233 in October 2016, a 38.8 per cent decrease from the 3,646 sales recorded in October 2015 and a 0.9 per cent decrease compared to September 2016 when 2,253 homes sold.

Last month’s sales were 15 per cent below the 10-year October sales average.

“Changing market conditions compounded by a series of government interventions this year have put home buyers and sellers in a holding pattern,” Dan Morrison, Real Estate Board of Greater Vancouver (REBGV) president said. “Potential buyers and sellers are taking a wait-and-see approach to try and better understand what these changes mean for them.” 

New listings for detached, attached and apartment properties in Metro Vancouver totalled 3,981 in October 2016. This represents a decrease of 3.5 per cent compared to the 4,126 units listed in October 2015 and a 17 per cent decrease compared to September 2016 when 4,799 properties were listed.

Last month’s new listing count was 9.5 per cent below the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 9,143, a 4.5 per cent decrease compared to October 2015 (9,569) and a 2.3 per cent decrease compared to September 2016 (9,354). 

The sales-to-active listings ratio for October 2016 is 24.4 per cent. Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“While sales are down across the different property types, it’s the detached market that’s seen the largest reduction in home buyer demand in recent months,” Morrison said. “It’s important to work with your local REALTOR® to help you navigate today’s changing trends.” 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $919,300. This represents a 24.8 per cent increase compared to October 2015 and a 0.8 per cent decline compared to September 2016.

Sales of detached properties in October 2016 reached 652, a decrease of 54.6 per cent from the 1,437 detached sales recorded in October 2015. The benchmark price for detached properties is $1,545,800. This represents a 28.9 per cent increase compared to October 2015 and a 1.4 per cent decrease compared to September 2016. 

Sales of apartment properties reached 1,178 in October 2016, a decrease of 23.7 per cent compared to the 1,543 sales in October 2015.The benchmark price of an apartment property is $512,300. This represents a 20.5 per cent increase compared to October 2015 and a 0.3 per cent increase compared to September 2016.

Attached property sales in October 2016 totalled 403, a decrease of 39.5 per cent compared to the 666 sales in October 2015. The benchmark price of an attached unit is $669,200. This represents a 25.7 per cent increase compared to October 2015 and a 1.1 per cent decrease compared to September 2016.

Download the complete stats package by clicking here

Correction Notice: 

Altus Group, the provider of the national MLS® Home Price Index (MLS® HPI), discovered a calculation error in their September 2016 reporting. This error resulted in variances of between 0.1 and 5 per cent in the benchmark prices the REBGV released for September 2016. Download the corrected September stats package by clicking here



July Market Update


 

This is the Sales and Listings Report updated to the end of July 2016.  The Greater Vancouver real estate market slowed with home sales decreasing by 27 per cent in July compared to June. For some markets like North Vancouver, this is typical in summertime, but it was a trend shared throughout the detached market in Metro Vancouver with some areas seeing a more significant decline. West Vancouver Detached sales were down 41% compared to June 2016 and down 45 per cent to July 2015 and were in fact the lowest monthly sales amount since January 2014. Total Month’s Supply of Listings is up to 10 Months there, with sales down and inventories up. Richmond detached sales were down 29 per cent in July compared to June 2016, and down 46 per cent to July 2015. The Sales to Listings Ratio dropped to 38 per cent, the lowest level since January 2014 and the Month’s Supply of Listings is now at 6 Months. Vancouver West and East Side Detached sales were similarly down and showing 6 and 5 Month’s Supply of Listings respectively.

 

What does this all mean? The detached market was already showing signs of softening over the last three months! particularly in the highest prices areas. Sales of strata properties have continued apace though with this market still seeing Seller Market conditions with 2 Month’s Supply of Listings even with overall sales in those markets lower in July.

 

"After several months of record-breaking sales activity, home buyer demand returned to more historically normal levels in July,” Dan Morrison, Real Estate Board of Greater Vancouver president said. "Last month’s sales were 6.5 per cent above the 10-year sales average for the month.” So while the numbers show a decline, they were coming off some significant highs. 

 

Here’s a summary of the numbers:

 

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

 

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

 

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

 

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

 

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

 

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



June Recap


Home buyers remain active across Metro Vancouver

Home buyers continue to compete for homes listed for sale across the Metro Vancouver housing market. 

Residential property sales in the region totalled 4,400 in June 2016, an increase of 0.6 per cent from the 4,375 sales recorded in June 2015 and a decrease of 7.7 per cent compared to May 2016 when 4,769 homes sold.

Last month’s sales were 28.1 per cent above the 10-year sales average for the month and rank as the highest selling June on record.

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

New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,875 in June 2016. This represents an increase of 1.2 per cent compared to the 5,803 units listed in June 2015 and a 6.6 per cent decrease compared to May 2016 when 6,289 properties were listed.

“Since March, we’ve seen more homes listed for sale in our market than in any other four-month period this decade,” Morrison said.  

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 7,812, a 35.9 per cent decline compared to June 2015 (12,181) and a 1.1 per cent increase compared to May 2016 (7,726).

The sales-to-active listings ratio for June 2016 is 56.3 per cent. While clearly indicative of a seller’s market, this is the lowest this measure has been since February.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark, while home prices often experience upward pressure when it reaches the 20 to 22 per cent range in a particular community for a sustained period of time.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $917,800. This represents a 32.1 per cent increase compared to June 2015.

Sales of detached properties in June 2016 reached 1,562, a decrease of 18.6 per cent from the 1,920 detached sales recorded in June 2015. The benchmark price for detached properties increased 38.7 per cent from June 2015 to $1,561,500.

Sales of apartment properties reached 2,108 in June 2016, an increase of 18.8 per cent compared to the 1,774 sales in June 2015.The benchmark price of an apartment property increased 25.3 per cent from June 2015 to $501,100.

Attached property sales in June 2016 totalled 730, an increase of 7.2 per cent compared to the 681 sales in June 2015. The benchmark price of an attached unit increased 28.1 per cent from June 2015 to $656,900.

Download complete stats package.



How Is June Shaping Up?


 

Compiled by Kevin Skipworth of Dexter Realty

 

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

 

Here is a summary of the activity so far:

 

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

 

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

 

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

 

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

 

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

 

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



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.



Modest Growth in Sales and Prices Marked The 2013 Market


click for full stats package from The Real Estate Board of Greater Vancouver

wwwrebgvorg sites default files rebgv stats package2c december 2013

 

 

From The Real Estate Board of Greater Vancouver January 3, 2014 –

The Greater Vancouver housing market maintained a
consistent balance between demand and supply throughout 2013.
The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached,
attached and apartment properties in 2013 reached 28,524, a 14 per cent increase from the 25,032
sales recorded in 2012, and an 11.9 per cent decrease from the 32,390 residential sales in 2011.
“Home sales quietly improved last year compared to 2012, although the volume of activity didn’t
compare to some of the record-breaking years we experienced over the last decade,” Sandra
Wyant, REBGV president said.
Last year’s home sale total ranks as the third lowest annual total for the region in the last ten
years, according to the region’s Multiple Listing Service® (MLS®).
The number of residential properties listed for sale on the MLS® in Metro Vancouver declined
6.2 per cent in 2013 to 54,742 compared to the 58,379 properties listed in 2012. Looking back
further, last year’s total represents an 8.1 per cent decline compared to the 59,539 residential
properties listed for sale in 2011. Last year’s listing count is on par with the 10 year average.
“It was a year of stability for the Greater Vancouver housing market,” Wyant, said. “Balanced
conditions allowed home prices in the region to remain steady, with just a modest increase over
the last 12 months.”
The MLS® Home Price Index composite benchmark price for all residential properties in Metro
Vancouver is currently $603,400. This represents a 2.1 per cent increase compared to December
2012.

December summary
Residential property sales in Greater Vancouver totalled 1,953 in December 2013, an increase of
71 per cent from the 1,142 sales recorded in December 2012 and a 15.9 per cent decline
compared to November 2013 when 2,321 home sales occurred.
December sales were 8.1 per cent above the 10-year December sales average of 1,807.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,856
in December 2013. This represents a 34.5 per cent increase compared to the 1,380 units listed in
December 2012 and a 42.8 per cent decline compared to November 2013 when 3,245 properties
were listed.
Sales of detached properties in December 2013 reached 762, an increase of 79.3 per cent from
the 425 detached sales recorded in December 2012, and a 21 per cent increase from the 630 units
sold in December 2011. The benchmark price for detached properties increased 2.5 per cent from
December 2012 to $927,000.
Sales of apartment properties reached 850 in December 2013, an increase of 68.7 per cent
compared to the 504 sales in December 2012, and an increase of 9.8 per cent compared to the
774 sales in December 2011.The benchmark price of an apartment property increased 1.8 per
cent from December 2012 to $367,800.
Attached property sales in December 2013 totalled 341, an increase of 60.1 per cent compared to
the 213 sales in December 2012, and a 34.3 per cent increase from the 254 attached properties
sold in December 2011. The benchmark price of an attached unit increased 1.2 per cent between
December 2012 and 2013 to $456,100.
-30-
The real estate industry is a key economic driver in British Columbia. In 2013, 28,524 homes changed ownership in
the Board's area, generating $1.84 billion in spin-off activity and 13,977 jobs. The total dollar value of residential
sales transacted through the MLS® system in Greater Vancouver totalled $22 billion in 2013. The Real Estate Board
of Greater Vancouver is an association representing more than 11,000 REALTORS® and their companies. The
Board provides a variety of member services, including the Multiple Listing Service®. For more information on real
estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.rebgv.org.
For more information please contact:
Craig Munn
Assistant Manager, Communication
Real Estate Board of Greater Vancouver
604.730.3146
[email protected]