Stats

Mid-July 2018 Vancouver Real Estate Update


“Don’t go through life, grow through life.” – Eric Butterworth.

Sales and listings stats are attached as of July 22, 2018. Sales for July are so far tracking at about 30 per cent below the levels of last July, with new listings down between 8 to 10 per cent, depending on the area and product type. East Vancouver is seeing a 5 per cent increase in new listings so far in July compared to last year though. Then the Bank of Canada raised its overnight lending rate again 10 days ago, putting pressure on the mortgage market once again this year. That has certainly been one of the biggest impacts in the real estate market – the ability for buyers to get financing approvals. For Greater Vancouver, there have been 100 sales per day so far, while in July 2017 up to the 22th there were 149 sales per day and in July 2016 at mid-month there were 160 sales per day. We are starting to see more engagement in the detached market as some sellers are seeing where the market has gone and are willing to participate and buyers are acting on those market changes. The remainder of the summer isn’t likely to change much in terms of volume, leaving for an interesting fall ahead!

Here is a summary of the activity so far:

Greater Vancouver – 1,398 units sold so far in July 2018 compared to 2,094 units sold as of July 22, 2017. Total New Listings so far in July are 3,492 compared to 3,964 units listed as of July 22, 2017. Total Active Listings are at 12,920 (9,805 at the same time last year). Sales To Listings Ratio is at 40% compared to 45% in June 2018.

Vancouver West – 263 units sold so far in July 2018 compared to 364 units sold as of July 22, 2017. Total New Listings so far in July are 644 compared to 739 units listed as of July 22, 2017. Total Active Listings are at 2,327 (1,695 at the same time last year). Sales To Listings Ratio is at 41% compared to 47% in June 2018.

Vancouver East – 141 units sold so far in July 2018 compared to 210 units sold as of July 22, 2017. Total New Listings so far in July are 382 compared to 401 units listed as of July 22, 2017. Total Active Listings are at 1,417 (1,157 at the same time last year). Sales To Listings Ratio is at 37% compared to 45% in June 2018.

North Vancouver – 104 units sold so far in July 2018 compared to 153 units sold as of July 22, 2017. Total New Listings so far in July are 237 compared to 260 units listed as of July 22, 2017. Total Active Listings are at 808 (532 at the same time last year). Sales To Listings Ratio is at 44% compared to 48% in June 2018.

West Vancouver – 42 units sold so far in July 2018 compared to 40 units sold as of July 22, 2017. Total New Listings so far in July are 123 compared to 131 units listed as of July 22, 2017. Total Active Listings are at 742 (580 at the same time last year). Sales To Listings Ratio is at 34% compared to 23% in June 2018.

Burnaby East – 13 units sold so far in July 2018 compared to 19 units sold as of July 22, 2017. Total New Listings so far in July are 41 compared to 44 units listed as of July 22, 2017. Total Active Listings are at 141 (107 at the same time last year). Sales To Listings Ratio is at 32% compared to 52% in June 2018.

Burnaby North – 61 units sold so far in July 2018 compared to 81 units sold as of July 22, 2017. Total New Listings so far in July are 151 compared to 184 units listed as of July 22, 2017. Total Active Listings are at 490 (405 at the same time last year). Sales To Listings Ratio is at 40% compared to 41% in June 2018.

Burnaby South – 56 units sold so far in July 2018 compared to 94 units sold as of July 22, 2017. Total New Listings so far in July are 197 compared to 223 units listed as of July 22, 2017. Total Active Listings are at 637 (482 at the same time last year). Sales To Listings Ratio is at 28% compared to 49% in June 2018.

New Westminster – 74 units sold so far in July 2018 compared to 111 units sold as of July 22, 2017. Total New Listings so far in July are 149 compared to 160 units listed as of July 22, 2017. Total Active Listings are at 391 (268 at the same time last year). Sales To Listings Ratio is at 50% compared to 61% in June 2018.

Coquitlam – 100 units sold so far in July 2018 compared to 180 units sold as of July 22, 2017. Total New Listings so far in July are 325 compared to 346 units listed as of July 22, 2017. Total Active Listings are at 954 (644 at the same time last year). Sales To Listings Ratio is at 31% compared to 40% in June 2018.

Port Moody – 32 units sold so far in July 2018 compared to 51 units sold as of July 22, 2017. Total New Listings so far in July are 76 compared to 91 units listed as of July 22, 2017. Total Active Listings are at 219 (167 at the same time last year). Sales To Listings Ratio is at 42% compared to 40% in June 2018.

Port Coquitlam – 56 units sold so far in July 2018 compared to 81 units sold as of July 22, 2017. Total New Listings so far in July are 130 compared to 121 units listed as of July 22, 2017. Total Active Listings are at 325 (184 at the same time last year). Sales To Listings Ratio is at 43% compared to 50% in June 2018.

Ladner – 23 units sold so far in July 2018 compared to 34 units sold as of July 22, 2017. Total New Listings so far in July are 30 compared to 44 units listed as of July 22, 2017. Total Active Listings are at 162 (137 at the same time last year). Sales To Listings Ratio is at 77% compared to 54% in June 2018.

Tsawwassen – 18 units sold so far in July 2018 compared to 29 units sold as of July 22, 2017. Total New Listings so far in July are 40 compared to 54 units listed as of July 22, 2017. Total Active Listings are at 249 (186 at the same time last year). Sales To Listings Ratio is at 45% compared to 60% in June 2018.