Connie McGinley

Cell: 604-916-9656 |

Sales and Listings Report for April 15, 2019 and Monday Morning Meeting update

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:


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.


Kevin Skipworth

Dexter Realty

Owner Partner/Managing Broker


#mondaymorningmeeting
At the Dexter Realty #southgranville offices in #vancouver
#realestate 
#greaterVancouver
#realestatemarket

With the implementation of mortgage stress test since Jan 1, 2018, it has created a strong buyer market . With the recent government intervention and mortgage stress test, the sales volume has significant decreased. But from a long history of real estate market in Vancouver , it’s been quite resilient . They have been various cycles through the years, but it has been a positive long term investment .

Market update
- Sales in March is better than February and Sales in February is better than January 2019.
- overall sales in 1st 2 weeks of April is 50% more than 1st 2 weeks of March 2019

The statistics showed that we have about 1700 sales by March. 
13,400 listing in the market place currently and Vancouver Westside activities has really picked up in March compared to the first 2 months of 2019. The single detach house remains 11 months supply which is still a buyer market & the Westside condo market is around 6 months supply which is a balanced market. This is the 1st sign of a turning spring market.

These are all signs for a strong Spring Market. 
If you are looking to get into the market or move up to a larger home, this is a great opportunity let’s meet and talk about it.

PROFESSIONAL ADVICE
From Carolynne Maguire - BC Notary.

End of April is fast approaching and tax filing due date is coming soon! If you purchased your very first home as a first-time buyer in 2018, you might be qualify for income tax credit when you file your income tax - that means possibly Free Money.
If you know someone who is a first time buyer & purchased a home in 2018, 
Call us for more information !

#MortgageUpdate 
Family Equity Program - a great way for parents to provide a protected down payment gift to their children in helping them with their home purchase while the parents’ gift is protected . If you are wanting to learn more about this, please let us know !

#CurrentInterestRate 
Current 5 Year Bond rate went up slightly.

 Fix rate special 3.39% for high-ratio mortgage, $478/month of mortgage payment for every $100,000 borrowed

 High-ratio mortgage rate -3.14%which is around $481/month of mortgage payment with 25 years amortization for every $100,000 borrowed or $451/ month of mortgage payment for 30 years amortization length.

 Conventional rate - 3.24% which is around $435/month of mortgage payment for every $100,000 borrower with 30 years amortization period

 Variable rate - 2.95% which is about $471/Month of mortgage payment for $100,000 you borrow with 25 years of amortization period or $418/month of mortgage payment for 30 years of amortization period

We are at 35 years low in mortgage growth as a result of the implementations of mortgage stress test from one year ago.

Rate has been holding fairly steady and there are a good supply of housing options on the market.

#lovewhereyoulive 
#lovewhatyoudo

Have a Fantastic week!



www.conniemcginley.ca

Graph from January 1977 to March 2019

Photo of: David Peerless - Dexter Realty - Owner President/Managing Broker


Contact me for a copy of it.

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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.