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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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



Kevin Skipworth

Dexter Realty

Broker/Owner



 
 
 
 
 
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“Look at everything as though you were seeing it either for the first or last time.” – Betty Smith


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


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


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


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


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


Here’s a summary of the numbers:

 

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


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


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


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


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


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


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


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


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

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


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


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


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


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


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


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


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



Kevin Skipworth

Dexter Realty

Broker/Owner

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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.