Stats

Sales and Listings Stats for August 20 2017


“Your attitude is either the lock on, or the key to the door of success.” — Denis Waitley

 Sales and listings stats are attached as of August 20, 2017. We are now into the first full year since the Foreign Buyers Tax. So while the debate will be extensive, what can’t be argued is the affect it has had on the higher end of the real estate market. Average prices are down significantly from the first 7 months of 2016 prior to the introduction of the tax. And more so in the West Vancouver, Vancouver West Side and Richmond markets. The average price in West Vancouver is at $1,890,804 compared to a peak at $3,438,792 in March 2016. The Detached Market is seeing a quiet month so far with only 30 houses sold in Vancouver’s West Side (compared to 74 total in July), 12 West Vancouver houses sold (compared to 41 in July) and 53 Richmond houses sold in August (compared to 102 in July). Affordability, government policy or perception of government policy changes and lingering effects of the Foreign Buyer Tax are a part of the market. At the end of August we’ll see just how much, and the fall market will be the true tale of the numbers.

Here is a summary of the activity so far:

Greater Vancouver –1,862 Units Sold so far in August 2017 compared to 1,639 Units Sold at this time in August 2016. Total New Listings so far in August are 2,798 compared to 3,220 at this time in August 2016. Total Active Listings are at 9,764 (9,490 at the same time in August 2016), Sales To Listings Ratio is at 67% compared to 51% at this time in August 2016.

Vancouver West – 308 Units Sold so far in August 2017 compared to 293 Units Sold at this time in August 2016. Total New Listings so far in August are 483 compared to 582 at this time in August 2016. Total Active Listings are at 1,689 (1,551 at the same time in August 2016), Sales To Listings Ratio is at 64% compared to 50% at this time in August 2016.

Vancouver East – 184 Units Sold so far in August 2017 compared to 142 Units Sold at this time in August 2016. Total New Listings so far in August are 270 compared to 347 at this time in August 2016. Total Active Listings are at 1,086 (890 at the same time in August 2016), Sales To Listings Ratio is at 68% compared to 41% at this time in August 2016.

North Vancouver – 135 Units Sold so far in August 2017 compared to 107 Units Sold at this time in August 2016. Total New Listings so far in August are 165 compared to 199 at this time in August 2016. Total Active Listings are at 506 (409 at the same time in August 2016), Sales To Listings Ratio is at 82% compared to 54% at this time in August 2016.

West Vancouver – 23 Units Sold so far in August 2017 compared to 40 Units Sold at this time in August 2016. Total New Listings so far in August are 84 compared to 86 at this time in August 2016. Total Active Listings are at 585 (485 at the same time in August 2016), Sales To Listings Ratio is at 27% compared to 47% at this time in August 2016.

Richmond – 270 Units Sold so far in August 2017 compared to 206 Units Sold at this time in August 2016. Total New Listings so far in August are 425 compared to 439 at this time in August 2016. Total Active Listings are at 1,440 (1,445 at the same time in August 2016), Sales To Listings Ratio is at 64% compared to 47% at this time in August 2016.