REBGV and FVREB Real Estate Stats for May 17, 2018

REBGV and FVREB Real Estate Stats for May 17, 2018

Sales Snapshot:

Sales Snapshot 2018-05-17 at 9.29.45 PM

Real Estate Board of Greater Vancouver (REBGV) Results

Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-17109$1,105,477$1,082,010$23,4662.1219

Fraser Valley Real Estate Board (FVREB) Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-1759$858,653$838,959$19,6942.2925

Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-17168$1,018,795$996,653$22,1412.1721

Market Monitor All Properties 2018-05-17 at 9.38.19 PM
Sell/list 52.01%; almost identical to yesterdays’s 52.54%. Tuesday was 57.26%, while Monday was 35.64%.

I mentioned yesterday that I’ve been taking note when average price for both boards exceeds $1 million. It’s not something that happens everyday, but I’m not sure if it’s becoming more frequent or less. It exceeded a million yesterday, but today it’s below once again.

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
2018-05-1767$723,147$722,289$8580.1218

Fraser Valley Real Estate Board (FVREB) Attached Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-1727$514,999$511,885$3,1140.6021

Attached Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-1794$663,360$661,853$1,5060.2319

Market Monitor Attached 2018-05-17 at 9.31.07 PM

Sell/list 62.25%, again, almost the same as yesterday’s 64.73%, 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
2018-05-1741$1,749,431$1,688,447$60,9843.4920

Fraser Valley Real Estate Board (FVREB) Detached Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-1732$1,148,612$1,114,928$33,6832.9329

Detached Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-1773$1,486,058$1,437,041$49,0173.3024

Market Monitor Detached 2018-05-17 at 9.31.48 PM

Sell/list 46.50%, slightly higher than yesterday’s 42.11%. Tuesday was 47.92% with 30.09% on Monday.

  • Only 13 properties sold for $2 million or more.
  • 35 sold for $500,000 or less. Same as yesterday.
  • The least expensive sale? Mobile home in Surrey for just over $50k. Frankly, not a fan of mobiles. Don’t like the pad rental.
  • Most expensive? Just over $4 million, sold fast, West Van.
  • 54 properties sold within 7 days
  • Longest time on market? About 6 months. Price never reduced. Sold close to list.

Inventory

REBGV Total

REBGV Total Inventory 2018-05-17 at 9.32.24 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 Inventory 2018-05-17 at 9.32.54 PM

REBGV Attached

REBGV Attached Inventory 2018-05-17 at 9.32.54 PM

FVREB Total

FVREB Total Inventory 2018-05-17 at 9.34.09 PM

FVREB Detached

FVREB Detached Inventory2018-05-17 at 9.34.37 PM

FVREB Attached

FVREB Attached Inventory 2018-05-17 at 9.35.07 PM
Total Inventory Both Boards

Total Inventory Both Boards Inventory 2018-05-17 at 9.35.35 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.

2 comments

  1. New listing this week seem around 15% lower than the previous two weeks.
    Attached inventory not growing as fast.
    Possibly due to the long weekend people don’t want to show their homes? or the beginning of a new trend? I guess too early to say…

  2. It’s hard to say. So many things play into it. I think you have to always remember it’s like filling a bucket that’s got a hole in it. If the hole (sales) gets bigger, inventory doesn’t grow as much…unless the tap filling the bucket (listings) gets turned on more.

    I know that if I’m listing a place I like it to hit the market on a Monday, have a showing Thursday afternoon, then an open on the weekend. Long weekends are always a waste of an open house, so you could be right.

    I’ll see if I can figure out an easy way to post a bigger picture view of inventory to see if it shows anything interesting.

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