Greater Vancouver Sales and Listings Report for June 17 2018

Sales and listings stats are attached as of June 17, 2018. The politics of it all! There is more debate than solutions right now in the housing market. June’s sales are on a slower pace than May for Greater Vancouver with Vancouver West showing an opposite trend. The number of sales per day in Greater Vancouver at mid-month were 132 while so far in June they are at 117. Vancouver’s Westside is at 22 sales per day compared to 20 at mid-month in May. What’s noticeable is the amount of listings that are growing in the market. Active listings for detached homes in Vancouver’s Westside are actually down from May, bucking the trend of all other areas and product types. Active listings in Greater Vancouver have climbed to 12,659. The number of new listings per day so far in June are 301 compared to 292 in May. Again Vancouver’s Westside is showing the opposite at 54 new listings per day compared to 57 in May. The new mortgage stress test for conventional mortgages is being seen as the biggest impact in the market thus far in 2018. Of course there is no shortage of distractions to point at. With the latest being regulatory changes from the Superintendent of Real Estate and Real Estate Council of B.C. These changes serve to eliminate Limited Dual Agency and increase the level of disclosure to consumers. All points to more for consumers to think about then what that home listed for! Here is a summary of the activity so far:

Greater Vancouver – 1,294 Units Sold so far in June 2018 compared to 1,194 Units Sold as of May 14, 2018. Total New Listings so far in May 2018 are 3,318 compared to 2,628 as of May 14, 2018. Total Active Listings are at 12,659 (9,120 at the same time last year). Sales To Listings Ratio is at 39% compared to 45% in May 2018 at mid-month.

Vancouver West - 247 Units Sold so far in June 2018 compared to 180 Units Sold as of May 14, 2018. Total New Listings so far in May 2018 are 601 compared to 515 as of May 14, 2018. Total Active Listings are at 2,358 (1,482 at the same time last year). Sales To Listings Ratio is at 41% compared to 35% in May 2018 at mid-month.

Vancouver East –  144 Units Sold so far in June 2018 compared to 144 Units Sold as of May 14, 2018. Total New Listings so far in May 2018 are 402 compared to 306 as of May 14, 2018. Total Active Listings are at 1,410 (1,142 at the same time last year). Sales To Listings Ratio is at 36% compared to 47% in May 2018 at mid-month.

North Vancouver – 108 Units Sold so far in June 2018 compared to 98 Units Sold as of May 14, 2018. Total New Listings so far in May 2018 are 261 compared to 193 as of May 14, 2018. Total Active Listings are at 811 (507 at the same time last year). Sales To Listings Ratio is at 41% compared to 51% in May 2018 at mid-month.

West Vancouver – 32 Units Sold so far in June 2018 compared to 31 Units Sold as of May 14, 2018. Total New Listings so far in May 2018 are 148 compared to 135 as of May 14, 2018. Total Active Listings are at 766 (583 at the same time last year). Sales To Listings Ratio is at 22% compared to 23% in May 2018 at mid-month.

Richmond – 149 Units Sold so far in June 2018 compared to 156 Units Sold as of May 14, 2018. Total New Listings so far in May 2018 are 432 compared to 364 as of May 14, 2018. Total Active Listings are at 1,789 (1,243 at the same time last year). Sales To Listings Ratio is at 34% compared to 43% in May 2018 at mid-month.

Kevin Skipworth

Dexter Associates Realty

Partner/Broker