Sales and listings stats are attached as of July 21, 2019. I remember a comment from this very analyst that writes these updates that sales were showing signs of increasing and total active listings were struggling to stay above 15,000 homes. Sales for July are so far tracking at about 15 per cent above the levels of last July at this time, with new listings down 9 per cent and active listings falling. We are likely to see sales in Greater Vancouver finish July at 2,500 homes sold which would be 19 per cent above the number of sales in June. Vancouver’s West Side is showing some of the better numbers for far, with detached home sales at the same level as June already. Active listings are down to 15,385 after peaking at 15,770 at the end of June. The federal government reduced the stress test rate to 5.19 per cent, down from 5.34 per cent. While not a significant amount, a sign that rates for borrowing are dropping and could spark further interest from buyers. Fixed rates are down approximately 0.7 per cent since going up – begging the question as to why the government only dropped the stress test rate by 0.15 per cent!

Here is a summary of the activity so far:

Greater Vancouver – 1,609 units sold so far in July 2019 compared to 1,398 units sold as of July 22, 2018. Total New Listings so far in July are 3,260 compared to 3,492 units listed as of July 22, 2018. Total Active Listings are at 15,385 (12,920 at the same time last year). Sales To Listings Ratio is at 49% compared to 43% in June 2019.

Vancouver West - 322 units sold so far in July 2019 compared to 263 units sold as of July 22, 2018. Total New Listings so far in July are 623 compared to 644 units listed as of July 22, 2018. Total Active Listings are at 2,644 (2,327 at the same time last year). Sales To Listings Ratio is at 52% compared to 40% in June 2019

Vancouver East – 164 units sold so far in July 2019 compared to 141 units sold as of July 22, 2018. Total New Listings so far in July are 348 compared to 382 units listed as of July 22, 2018. Total Active Listings are at 1,404 (1,417 at the same time last year). Sales To Listings Ratio is at 47% compared to 44% in June 2019

North Vancouver – 115 units sold so far in July 2019 compared to 104 units sold as of July 22, 2018. Total New Listings so far in July are 267 compared to 237 units listed as of July 22, 2018. Total Active Listings are at 1,020 (808 at the same time last year). Sales To Listings Ratio is at 43% compared to 49% in June 2019

West Vancouver – 32 units sold so far in July 2019 compared to 42 units sold as of July 22, 2018. Total New Listings so far in July are 102 compared to 123 units listed as of July 22, 2018. Total Active Listings are at 741 (742 at the same time last year). Sales To Listings Ratio is at 31% compared to 24% in June 2019

Richmond - 192 units sold so far in July 2019 compared to 178 units sold as of July 22, 2018. Total New Listings so far in July are 422 compared to 467 units listed as of July 22, 2018. Total Active Listings are at 2,338 (1,831 at the same time last year). Sales To Listings Ratio is at 45% compared to 43% in June 2019

Burnaby East – 9 units sold so far in July 2019 compared to 13 units sold as of July 22, 2018. Total New Listings so far in July are 33 compared to 41 units listed as of July 22, 2018. Total Active Listings are at 166 (141 at the same time last year). Sales To Listings Ratio is at 27% compared to 38% in June 2019

Burnaby North – 85 units sold so far in July 2019 compared to 61 units sold as of July 22, 2018. Total New Listings so far in July are 165 compared to 151 units listed as of July 22, 2018. Total Active Listings are at 648 (490 at the same time last year). Sales To Listings Ratio is at 52% compared to 43% in June 2019

Burnaby South – 96 units sold so far in July 2019 compared to 74 units sold as of July 22, 2018. Total New Listings so far in July are 163 compared to 197 units listed as of July 22, 2018. Total Active Listings are at 830 (637 at the same time last year). Sales To Listings Ratio is at 59% compared to 45% in June 2019

New Westminster – 84 units sold so far in July 2019 compared to 74 units sold as of July 22, 2018. Total New Listings so far in July are 124 compared to 149 units listed as of July 22, 2018. Total Active Listings are at 540 (391 at the same time last year). Sales To Listings Ratio is at 68% compared to 48% in June 2019

Coquitlam – 144 units sold so far in July 2019 compared to 100 units sold as of July 22, 2018. Total New Listings so far in July are 289 compared to 325 units listed as of July 22, 2018. Total Active Listings are at 1,152 (954 at the same time last year). Sales To Listings Ratio is at 50% compared to 46% in June 2019

Port Moody – 32 units sold so far in July 2019 compared to 32 units sold as of July 22, 2018. Total New Listings so far in July are 51 compared to 76 units listed as of July 22, 2018. Total Active Listings are at 249 (219 at the same time last year). Sales To Listings Ratio is at 63% compared to 48% in June 2019

Port Coquitlam – 52 units sold so far in July 2019 compared to 56 units sold as of July 22, 2018. Total New Listings so far in July are 105 compared to 130 units listed as of July 22, 2018. Total Active Listings are at 583 (325 at the same time last year). Sales To Listings Ratio is at 50% compared to 44% in June 2019

Ladner – 25 units sold so far in July 2019 compared to 23 units sold as of July 22, 2018. Total New Listings so far in July are 39 compared to 30 units listed as of July 22, 2018. Total Active Listings are at 184 (162 at the same time last year). Sales To Listings Ratio is at 64% compared to 47% in June 2019

Tsawwassen – 25 units sold so far in July 2019 compared to 18 units sold as of July 22, 2018. Total New Listings so far in July are 51 compared to 40 units listed as of July 22, 2018. Total Active Listings are at 301 (249 at the same time last year). Sales To Listings Ratio is at 49% compared to 44% in June 2019

Kevin Skipworth
Managing Broker/Partner

dexterrealty.com
cathieandkevin.com

Once again I’m taking part in the Ride To Conquer Cancer in 2019 with a goal of raising $7,500. To help me reach my goal please go to www.conquercancer.ca/goto/KevinS

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