REBGV/FVREB Stats For Monday May 28, 2018

REBGV and FVREB Real Estate Stats for May 28th, 2018

Sales Snapshot:

Sales Snapshot 2018-05-28 at 10.53.11 PM

Real Estate Board of Greater Vancouver (REBGV) Results

Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-28122$1,052,319$1,021,413$30,9062.9428

Fraser Valley Real Estate Board (FVREB) Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-28115$850,264$815,263$35,0014.1216

Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-28237$954,276$921,382$32,8933.4522

Market Monitor All Properties 2018-05-28 at 10.51.25 PM

Sell/list 42.78%. Not bad for Monday.

Average price, all properties, both boards below $1 million by about 8%.

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
2018-05-2881$717,259$711,505$5,7540.8018

Fraser Valley Real Estate Board (FVREB) Attached Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-2869$508,460$507,446$1,0140.2014

Attached Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-28150$621,212$617,638$3,5730.5816

Market Monitor Attached 2018-05-28 at 10.52.01 PM

Sell/list 46.88%. Again, not bad for a Monday, and stronger than the average and detached because, well, attached are still doing ok.

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 2018-05-28 at 10.52.29 PM

Sell/list 29.15%. Ouch. That’s more like Monday should look.

  • 17 properties sold for $2 million or more.Normal.
  • 62 sold for $500,000 or less. Highish.
  • The least expensive sale? Mobile home. My advice? Don’t buy one.
  • Most expensive? Approximately $7 million development property in Langley.
  • 90 properties sold within 7 days.Highish number.
  • Longest time on market? Over 500 days for a building lot on Bowen.

Inventory

REBGV Total

Inventory is climbs again, about 1.75% in a day. That’s significant. If it continues we’ll see marked price retreats.

REBGV Total Inventory 2018-05-28 at 11.04.36 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 2018-05-28 at 11.04.10 PM

REBGV Attached

REBGV Attached Inventory 2018-05-28 at 11.03.42 PM
FVREB Total

FVREB Total Inventory 2018-05-28 at 11.03.13 PM

FVREB Detached

FVREB Detached Inventory 2018-05-28 at 11.02.48 PM

FVREB Attached

FVREB Attached Inventory 2018-05-28 at 11.02.01 PM
Total Inventory Both Boards

Total Inventory Both Boards 2018-05-28 at 11.01.28 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.

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