Real Estate Stats for May 24th, 2018

REBGV and FVREB Real Estate Stats for May 24th, 2018

Sales Snapshot:

Sales Snapshot 2018-05-24 at 10.21.51 PM

Real Estate Board of Greater Vancouver (REBGV) Results

Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-24127$1,233,049$1,182,029$51,0204.1424

Fraser Valley Real Estate Board (FVREB) Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-2460$775,537$760,465$15,0721.9420

Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-24187$1,086,254$1,046,767$39,4863.6423

Market Monitor All Properties 2018-05-24 at 10.29.02 PM

Sell/list 43.49%.

Average price, all properties, both boards broke $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
2018-05-2486$803,517$792,701$10,8161.3516

Fraser Valley Real Estate Board (FVREB) Attached Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-2433$502,072$501,742$3300.0717

Attached Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-24119$719,923$712,015$7,9081.1016

Market Monitor Attached 2018-05-24 at 10.29.36 PM

Sell/list 56.94%.

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
2018-05-2439$2,151,146$2,012,060$139,0856.4741

Fraser Valley Real Estate Board (FVREB) Detached Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-2426$1,103,264$1,073,092$30,1722.7324

Detached Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-2465$1,731,993$1,636,473$95,5205.5234

Market Monitor Detached 2018-05-24 at 10.30.08 PM

Sell/list 31.86%. Ouch.

  • 16 properties sold for $2 million or more.
  • 43 sold for $500,000 or less.
  • The least expensive sale? Sunshine Coast mobile home for under $60k.
  • Most expensive? Approximately $10 million mansion.
  • 63 properties sold within 7 days.
  • Longest time on market? Almost 300 days for a new multi-million dollar North Van home.

Inventory

REBGV Total

Inventory is climbs again, rough 3/4 of 1% in a day. Low sell/lists mean climbing inventory. Climbing inventory is a result of more sellers and fewer buyers. That’s the same as more supply and less demand. It’s relative, because this is Vancouver (Winnipeg would probably die for numbers like ours, at least if they’re fans of strong sales), but things look to be slowing a bit. (Prices growth can well be the last thing to change, fwiwe).

REBGV Total Inventory 2018-05-24 at 10.30.40 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 Inventor 2018-05-24 at 10.31.12 PM

REBGV Attached

REBGV Attached Inventory 2018-05-24 at 10.31.41 PM
FVREB Total

FVREB Total Inventory 2018-05-24 at 10.32.11 PM

FVREB Detached

FVREB Detached Inventory 2018-05-24 at 10.32.35 PM

FVREB Attached

REBGV Attached Inventory 2018-05-24 at 10.31.41 PM
Total Inventory Both Boards

Total Inventory Both Boards 2018-05-24 at 10.33.38 PM

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.

Leave a Reply

Your email address will not be published.