Monday, May 7th, 2018 Real Estate Sales Statistics for the REBGV and the FVREB

Monday, May 7th, 2018 Real Estate Sales Statistics for the REBGV and the FVREB (REBGV/FVREB)

Real Estate Board of Greater Vancouver (REBGV) Results

Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-07112$1,215,862$1,162,173$53,6884.4246

Fraser Valley Real Estate Board (FVREB) Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-0779$855,858$839,896$15,9621.8719

Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-07191$1,066,960$1,028,875$38,0843.5734

New Listings – 571
Price Changes – 132
Sales – 191
Sell/List – 33.45%

Lower sell/list to start the week, which is not uncommon.

  • 17 properties sold for $2 million or more.
  • 41 sold for $500,000 or less.
  • The least expensive sale? 1/4 share in a Whistler 1 bedroom for a buck and a quarter.
  • Most expensive? Approximately eight million dollar house in West Van selling about 20% off list price.

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
2018-05-0774$875,115$867,580$7,5340.8620

Fraser Valley Real Estate Board (FVREB) Attached Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-0734$508,678$511,223$-2,544-0.5013

Attached Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-07108$759,755$755,394$4,3610.5718

New Listings – 308
Price Changes – 54
Sales – 108
Sell/List – 35.07%

That’s low, even for a Monday, for attached. You’d expect that to be markedly higher than all properties.

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
2018-05-0734$1,963,088$1,816,308$146,7807.4837

Fraser Valley Real Estate Board (FVREB) Detached Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-0745$1,118,172$1,088,227$29,9452.6823

Detached Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-0779$1,481,807$1,401,578$80,2285.4129

New Listings – 252
Price Changes – 76
Sales – 80
Sell/List – 31.74%

Not surprising, except that it’s competitive with the attached sell/list (which says more about the attached sell/list than the detached).

What about new listings by board? I’ve been chopping sales up by board and property type, but lo and behold, I got some feed back on the Twitter.

I like feedback, and I absolutely love how you can embed a tweet into a blogpost, so….

REBGV all properties:

New Listings – 369
Price Changes – 80
Sales – 113
Sell/List – 30.62%

REBGV Attached:

New Listings – 202
Price Changes – 31
Sales – 74
Sell/List – 36.63%

REBGV Detached:

New Listings – 155
Price Changes – 47
Sales – 35
Sell/List – 22.58%

FVREB all properties:

New Listings – 202
Price Changes – 52
Sales – 78
Sell/List – 38.61%

FVREB Attached:

New Listings – 106
Price Changes – 23
Sales – 34
Sell/List – 32.08%

FVREB Detached:

New Listings – 97
Price Changes – 29
Sales – 45
Sell/List – 46.39%

Check my math. I did some of that in my head.

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. Thanks for sharing Rob. One more request if possible. Total active inventory (to keep track of growth) separated between detached and attached for the REBGV would be useful. Thanks!

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