Lower Mainland Real Estate Statistics for the Week May 14-18, 2018

REBGV and FVREB Real Estate Stats for May 14-18 2018

Sales Snapshot for the week:

Weekly Sales Snapshot2018-05-18 at 9.03.13 PM

A little change up. Daily stats mix lots of noise into the signal, but longer time frames sometimes demonstrate things more clearly. There’s pros and cons to each, but hey, it’s Friday. These are sales stats for the week.

Real Estate Board of Greater Vancouver (REBGV) Results

Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-18674$1,150,076$1,118,906$31,1692.7129

Fraser Valley Real Estate Board (FVREB) Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-18354$772,106$760,652$11,4541.4820

Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-181028$1,019,919$995,539$24,3802.3926

Market Monitor All Properties 2018-05-18 at 9.06.36 PM

Sell/list 49.98% for the week. 52.01% Thursday, 52.54% Wednesday. Tuesday was 57.26%, while Monday was 35.64%.

Average price for all properties both boards? Under $1 million.

What about the attached market?

Real Estate Board of Greater Vancouver (REBGV) Attached Results

Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-18435$809,693$804,476$5,2170.6417

Fraser Valley Real Estate Board (FVREB) Attached Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-18200$509,478$510,545$-1,066-0.2116

Attached Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-18635$715,137$711,899$3,2380.4517

Market Monitor Attached Properties 2018-05-18 at 9.07.19 PM

Sell/list 58.36% for the week. 62.25% yesterday, 64.73% Wednesday, with Tuesday’s at 62.90% and 40.71% on Monday.

These are detached:

Real Estate Board of Greater Vancouver (REBGV) Detached Results

Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-18228$1,801,286$1,722,981$78,3044.3531

Fraser Valley Real Estate Board (FVREB) Detached Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-18153$1,107,386$1,080,468$26,9172.4324

Detached Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-18381$1,522,633$1,464,964$57,6683.7928

Market Monitor Detached Properties2018-05-18 at 9.07.55 PM

Sell/list 42.47 for the week. 46.50% yesterday, 42.11% for Wednesday. Tuesday was 47.92% with 30.09% on Monday.

  • 82 properties sold for $2 million or more. That’s an average of 16/day.
  • 211 sold for $500,000 or less. That’s 42 per day on average.
  • The least expensive sale of the week? Yesterday’s mobile home in Surrey for just over $50k.
  • Most expensive? The 8 million dollar waterfront Point Grey Road property.
  • 371 properties sold within 7 days – 53/day
  • Longest time on market? The 8 year listing on the Sunshine Coast.

Inventory

REBGV Total

REBGV Total Inventory 2018-05-18 at 9.08.32 PM

Note the labels in the boxes. Status “A” means “Active”; Region is self explanatory; Class “RD” means “Residential Detached” (or “Attached”, as the case may be). There are slight discrpeancies between the total inventory and the sum of detached and attached – those discrepancies reflect multi-family and land sales.

REBGV Detached

REBGV Detached 2018-05-18 at 9.09.22 PM

REBGV Attached

REBGV Attached 2018-05-18 at 9.09.55 PM

FVREB Total

FVREB Total Inventory 2018-05-18 at 9.10.23 PM

FVREB Detached

FVREB Detached 2018-05-18 at 9.10.53 PM

FVREB Attached

FVREB Attached 2018-05-18 at 9.11.18 PM

Total Inventory Both Boards

Total Inventory Both Boards 2018-05-18 at 9.11.45 PM

Is inventory dropping or falling? You’ll have to review that yourself.

I will say that 1,028 sales this week, divided into total inventory of 16,803 is 16.35 weeks of inventory.

You can do the math on the sub-categories, but it’s pretty clear: there isn’t a ton for sale out there, even if sales volumes are falling.

How to read these tables:

The first column is date, which is self-explanatory. The second is the number of sales in the specific area. Sales include detached, attached, apartment, land only and multi-family. Multi-family tends to include smaller multi-unit buildings rather than apartment buildings, which usually turn up on the commercial MLS system. There are also few multi-family sales each week. The third column is average list price for the day – in other words, the total of all list prices divided by the number of new listings. The fourth column is the average sales price of all sales reported that day. The sales are reported after subjects are removed, and can be from 0 to perhaps 14 days old. Listings, by comparison, are generally brand new, and lag by at most 3-5 days (in times of high listing volume the lag can be a little more, but not as much as with sales).

The fifth and sixth columns show the difference between average list price and sell price in dollar figures and percentages. Hot markets see properties sell within 1%-1.5% of list price.

The last column is days on market (DOMs). In most real estate markets 60 DOMs is by no means bad, and would often be regarded as great. In the Lower Mainland, especially compared to the last decade, it is high. Hot markets see DOMs like 30.

Vancouver real estate sales statistics are courtesy of the Real Estate Board of Greater Vancouver, and while all efforts are made to ensure their accuracy, neither the REBGV nor Rob Chipman are liable for any errors.

2 comments

  1. via @VancouverREStat
    @REBGV + @FVREB (Lower Mainland)
    May 1-18 Sales 2807

    my projection for May for both Boards: 4600 sales

  2. OK, prediction challenge on! I’m going to say we break 5,000. That requires an uptick. Victor’s requires a slight slowdown.

    What say the bookies? 🙂

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