Stats

Sales and Listings Report for October 15 2017


“You cannot change your destination overnight, but you can change your direction overnight.” – Jim Rohn

Sales and listings stats are attached as of October 15, 2017. So far we’re seeing a stronger October for sales compared to last October. Understandably this isn’t a surprise what with the fall-out from the Foreign Buyer Tax fresh on the minds of buyers and sellers at this time last year. As well, last year this was part of my update “The real estate market continues to be the target of government regulatory changes. The latest being mortgage rule changes that took effect October 17th. These changes have added a “stress test” to mortgage qualifying which essentially requires anyone with less than 20 per cent down payment to qualify at a rate of 4.64 per cent as opposed to the lower negotiated rates. The effect is lowering the purchasing power of some buyers – mostly first time buyers.” Well this year the story could be very similar but with this same type of rule which would affect those buyers with more than 20 per cent down. While the final details have yet to be released, we’ll see where the market goes for the remainder of October. Certainly a lack of inventory continues to keep pressure on condo and townhouse prices with the detached market while showing more life so far in October compared to September is still in a balanced to buyer’s market state.

Here is a summary of the activity so far:

Greater Vancouver –1,368 Units Sold so far in October 2017 compared to 1,015 Units Sold by October 15, 2016. Total New Listings so far in October are 2,054 compared to 2,008 by the same time last year. Total Active Listings are at 9,855 (10,037 at the same time in October 2016), Sales To Listings Ratio is at 67% compared to 51% at this time in October 2016.

Vancouver West – 255 Units Sold so far in October 2017 compared to 197 Units Sold by October 15, 2016. Total New Listings so far in October are 441 compared to 364 by the same time last year. Total Active Listings are at 1,747 (1,663 at the same time in October 2016), Sales To Listings Ratio is at 58% compared to 54% at this time in October 2016.

Vancouver East – 125 Units Sold so far in October 2017 compared to 82 Units Sold by October 15, 2016. Total New Listings so far in October are 228 compared to 250 by the same time last year. Total Active Listings are at 1,114 (1,046 at the same time in October 2016), Sales To Listings Ratio is at 55% compared to 33% at this time in October 2016.

North Vancouver – 104 Units Sold so far in October 2017 compared to 73 Units Sold by October 15, 2016. Total New Listings so far in October are 189 compared to 156 by the same time last year. Total Active Listings are at 619 (581 at the same time in October 2016), Sales To Listings Ratio is at 55% compared to 47% at this time in October 2016.

West Vancouver – 24 Units Sold so far in October 2017 compared to 11 Units Sold by October 15, 2016. Total New Listings so far in October are 93 compared to 70 by the same time last year. Total Active Listings are at 638 (522 at the same time in October 2016), Sales To Listings Ratio is at 26% compared to 16% at this time in October 2016.

Richmond – 195 Units Sold so far in October 2017 compared to 126 Units Sold by October 15, 2016. Total New Listings so far in October are 287 compared to 240 by the same time last year. Total Active Listings are at 1,415 (1,399 at the same time in October 2016), Sales To Listings Ratio is at 68% compared to 53% at this time in October 2016.