Dexter Report - Oct 15th 2020 - Greater Vancouver Home Sales and Listings Market Report

The sales and listings numbers are attached as of October 15, 2020. The real estate market continues to move along with October keeping pace with where September was at mid-month, albeit with a slight drop in the number of new listings coming on. Sales in the last half of September did gain momentum, will that be the case for October? In Greater Vancouver, there have been 1,741 sales as of October 15th while there were 1,755 sales last month as of September 15th. While we’ll likely see over 3,000s sale at month end for Greater Vancouver as was the case in September, the year-over-year increase won’t be as dramatic given October 2019 had the highest monthly sales for 2019 at 2,892. But that doesn’t take away from the fact this real estate market continues to move – no pun in intended.
 
Typically, October would have more sales than September – but of course in the year of COVID, there is no usual. We may not quite see the same level of sales to finish the month but buyers are still engaging and with the number of new listings less so far in October than we saw in September, competition continues to be strong – especially for detached homes. There have been 3,060 new listings in Greater Vancouver so far this month, which is less than the 3,385 new listings at mid-month in September. Total active listings are down slightly to 13,670 from the 13,790 at the end of September. We do have a provincial election on October 24th which may distract a few buyers and sellers over the next week but so far that really hasn’t been an issue. Housing policies haven’t been a significant part of the platforms in the election, status quo seems to be where we are headed. Supply is going to be an issue in the coming years as a result. There was a slight lag in sales leading up to Thanksgiving but activity picked up again after that.
 
While it was a September to remember, the real estate market could still be Mr. October after we finish the month.
 

Greater Vancouver Average Daily Listings and Sales

 
April – 120 new listings, 56 sales
May – 189 new listings, 75 sales
June – 274 new listings, 115 sales
July – 278 new listings, 145 sales
August 3 to 7 – 337 new listings, 151 sales
August 10 to 15 – 282 new listings, 140 sales
August 17 to 21 – 298 new listings, 171 sales
August 24 to 28 – 279 new listings, 164 sales
August 31 to September 4 – 275 new listings, 162 sales
September 8 to 11 – 379 new listings, 171 sales
September 14 to 18 – 315 new listings, 184 sales
September 21 to 25 – 295 new listings, 180 sales
September 28 to Oct 2 – 302 new listings, 181 sales
October 5 to 9 – 300 new listings, 169 sales

Here is a summary of the activity so far:

 
Greater Vancouver – 1,741 Units Sold so far as of October 15 compared to 1,755 as of September 15th, 2020, 1,132 Units Sold at October 14, 2019 and 898 at October 15, 2018. Total New Listings so far in October are 3,060 compared to 3,385 as at September 15, 2020, 1,802 at October 14, 2019 and 2,302 at October 15, 2018. Total Active Listings are at 13,670 (13,627 at the same time in October 2019 and 13,814 at mid-September 2020), Sales To Listings Ratio is at 57% compared to 52% at this time in September 2020, and 63% at this time in October 2019.
 
Vancouver West – 258 Units Sold so far as of October 15 compared to 252 as of September 15th, 2020, 186 Units Sold at October 14, 2019 and 164 at October 15, 2018. Total New Listings so far in October are 630 compared to 693 as at September 15, 2020, 363 at October 14, 2019 and 459 at October 15, 2018. Total Active Listings are at 2,878 (2,382 at the same time in October 2019 and 2,799 at mid-September 2020), Sales To Listings Ratio is at 41% compared to 36% at this time in September 2020, and 51% at this time in October 2019.
 
Vancouver East – 192 Units Sold so far as of October 15 compared to 197 as of September 15th, 2020, 120 Units Sold at October 14, 2019 and 107 at October 15, 2018. Total New Listings so far in October are 395 compared to 403 as at September 15, 2020, 180 at October 14, 2019 and 228 at October 15, 2018. Total Active Listings are at 1,422 (1,239 at the same time in October 2019 and 1,379 at mid-September 2020), Sales To Listings Ratio is at 49% compared to 49% at this time in September 2020, and 67% at this time in October 2019.
 
North Vancouver – 155 Units Sold so far as of October 15 compared to 164 as of September 15th, 2020, 96 Units Sold at October 14, 2019 and 68 at October 15, 2018. Total New Listings so far in October are 246 compared to 309 as at September 15, 2020, 130 at October 14, 2019 and 219 at October 15, 2018. Total Active Listings are at 899 (824 at the same time in October 2019 and 926 at mid-September 2020), Sales To Listings Ratio is at 63% compared to 53% at this time in September 2020, and 74% at this time in October 2019.
 
West Vancouver – 47 Units Sold so far as of October 15 compared to 52 as of September 15th, 2020, 32 Units Sold at October 14, 2019 and 24 at October 15, 2018. Total New Listings so far in October are 106 compared to 111 as at September 15, 2020, 67 at October 14, 2019 and 97 at October 15, 2018. Total Active Listings are at 647 (689 at the same time in October 2019 and 649 at mid-September 2020), Sales To Listings Ratio is at 44% compared to 47% at this time in September 2020, and 48% at this time in October 2019.
 
Richmond – 173 Units Sold so far as of October 15 compared to 198 as of September 15th, 2020, 136 Units Sold at October 14, 2019 and 111 at October 15, 2018. Total New Listings so far in October are 325 compared to 368 as at September 15, 2020, 232 at October 14, 2019 and 270 at October 15, 2018. Total Active Listings are at 1,737 (2,041 at the same time in October 2019 and 1,742 at mid-September 2020), Sales To Listings Ratio is at 53% compared to 54% at this time in September 2020, and 59% at this time in October 2019.
 
Burnaby East – 22 Units Sold so far as of October 15 compared to 23 as of September 15th, 2020, 11 Units Sold at October 14, 2019 and 11 at October 15, 2018. Total New Listings so far in October are 27 compared to 27 as at September 15, 2020, 21 at October 14, 2019 and 24 at October 15, 2018. Total Active Listings are at 141 (152 at the same time in October 2019 and 140 at mid-September 2020), Sales To Listings Ratio is at 67% compared to 85% at this time in September 2020, and 52% at this time in October 2019.
 
Burnaby North – 84 Units Sold so far as of October 15 compared to 91 as of September 15th, 2020, 60 Units Sold at October 14, 2019 and 39 at October 15, 2018. Total New Listings so far in October are 165 compared to 171 as at September 15, 2020, 86 at October 14, 2019 and 107 at October 15, 2018. Total Active Listings are at 651 (550 at the same time in October 2019 and 636 at mid-September 2020), Sales To Listings Ratio is at 51% compared to 53% at this time in September 2020, and 70% at this time in October 2019.
 
Burnaby South – 72 Units Sold so far as of October 15 compared to 79 as of September 15th, 2020, 62 Units Sold at October 14, 2019 and 35 at October 15, 2018. Total New Listings so far in October are 771 compared to 177 as at September 15, 2020, 93 at October 14, 2019 and 134 at October 15, 2018. Total Active Listings are at 771 (722 at the same time in October 2019 and 727 at mid-September 2020), Sales To Listings Ratio is at 46% compared to 45% at this time in September 2020, and 70% at this time in October 2019.
 
New Westminster – 72 Units Sold so far as of October 15 compared to 76 as of September 15th, 2020, 51 Units Sold at October 14, 2019 and 43 at October 15, 2018. Total New Listings so far in October are 147 compared to 148 as at September 15, 2020, 80 at October 14, 2019 and 114 at October 15, 2018. Total Active Listings are at 544 (473 at the same time in October 2019 and 522 at mid-September 2020), Sales To Listings Ratio is at 49% compared to 51% at this time in September 2020, and 64% at this time in October 2019.
 
Coquitlam – 160 Units Sold so far as of October 15 compared to 145 as of September 15th, 2020, 98 Units Sold at October 14, 2019 and 60 at October 15, 2018. Total New Listings so far in October are 234 compared to 285 as at September 15, 2020, 139 at October 14, 2019 and 170 at October 15, 2018. Total Active Listings are at 885 (944 at the same time in October 2019 and 919 at mid-September 2020), Sales To Listings Ratio is at 68% compared to 51% at this time in September 2020, and 71% at this time in October 2019.
 
Port Moody – 54 Units Sold so far as of October 15 compared to 40 as of September 15th, 2020, 32 Units Sold at October 14, 2019 and 17 at October 15, 2018. Total New Listings so far in October are 67 compared to 76 as at September 15, 2020, 35 at October 14, 2019 and 26 at October 15, 2018. Total Active Listings are at 260 (217 at the same time in October 2019 and 261 at mid-September 2020), Sales To Listings Ratio is at 81% compared to 53% at this time in September 2020, and 91% at this time in October 2019.
 
Port Coquitlam – 62 Units Sold so far as of October 15 compared to 52 as of September 15th, 2020, 49 Units Sold at October 14, 2019 and 39 at October 15, 2018. Total New Listings so far in October are 83 compared to 119 as at September 15, 2020, 49 at October 14, 2019 and 76 at October 15, 2018. Total Active Listings are at 249 (308 at the same time in October 2019 and 288 at mid-September 2020), Sales To Listings Ratio is at 75% compared to 44% at this time in September 2020, and 100% at this time in October 2019.
 
Ladner – 24 Units Sold so far as of October 15 compared to 22 as of September 15th, 2020, 10 Units Sold at October 14, 2019 and 7 at October 15, 2018. Total New Listings so far in October are 25 compared to 27 as at September 15, 2020, 23 at October 14, 2019 and 26 at October 15, 2018. Total Active Listings are at 134 (182 at the same time in October 2019 and 144 at mid-September 2020), Sales To Listings Ratio is at 96% compared to 81% at this time in September 2020, and 43% at this time in October 2019.
 
Tsawwassen – 37 Units Sold so far as of October 15 compared to 33 as of September 15th, 2020, 15 Units Sold at October 14, 2019 and 13 at October 15, 2018. Total New Listings so far in October are 59 compared to 55 as at September 15, 2020, 29 at October 14, 2019 and 25 at October 15, 2018. Total Active Listings are at 312 (289 at the same time in October 2019 and 319 at mid-September 2020), Sales To Listings Ratio is at 63% compared to 60% at this time in September 2020, and 52% at this time in October 2019.