REBGV/FVREB Stats For Thursday May 31, 2018

REBGV and FVREB Real Estate Stats for May 31st, 2018

Sales Snapshot:

Sales Snapshot

Real Estate Board of Greater Vancouver (REBGV) Results

Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-31109$1,054,527$1,037,489$17,0371.6223

Fraser Valley Real Estate Board (FVREB) Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-3167$724,404$719,411$4,9920.6920

Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-31176$928,855$916,403$12,4521.3422

Market Monitor All Properties

Sell/list 48.8%. About a 2% decrease from the day before.

Average price, all properties, both boards was below $1 million by about 8.4%.

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
2018-05-3175$742,841$741,995$8460.1122

Fraser Valley Real Estate Board (FVREB) Attached Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-3139$570,417$569,694$7220.1315

Attached Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-31114$683,854$683,050$8030.1220

Market Monitor Attached
Sell/list 63.69%. A 13% increase from the day before.

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
2018-05-3133$1,780,466$1,729,901$50,5652.8421

Fraser Valley Real Estate Board (FVREB) Detached Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-3127$950,695$939,648$11,0471.1628

Detached Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-3160$1,407,069$1,374,287$32,7822.3324

Market Monitor Detached
Sell/list 36.8% a drop from the day before.

  • 9 properties sold for $2 million or more. Definitely seeing a slow down as the week goes on.
  • 39 sold for $500,000 or less. 6 less properties than the day before, again the slow trend continues.
  • The least expensive sales? A manufactured home in Surrey, 17 Days on Market.
  • Most expensive? A 4.45 million dollar detached house in Point Grey, 3,350 sq ft. 7 Days on Market
  • 65 properties sold within 7 days. Much lower than yesterday, it should be noted that the most expensive sale today was sold within 7 days.
  • Longest time on market? A 894 sq ft Condo in Whistler, sold for $167,000. 234 days on market.

Inventory

Inventory has dropped, only 0.30% however. It is noteworthy for being such a small change. Similar to the rest of the week.

REBGV Total

GV Total Inventory

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

GV Detached

REBGV Attached

GV Attached
FVREB Total

FV Total Inventory

FVREB Detached

FV Detached

FVREB Attached

FV Attached
Total Inventory Both Boards

Total Inventory
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. Hey Rob,

    I am following up on my previous comment about why your inventory level was around 11,900 and the REBGV’s inventory count was 11,282 for the month of May.

    I just noticed your inventory for May 31st says:
    REBGV Total : 11,977
    REBGV attached: 4,975
    REBGV detached: 6,314

    If you add up 4,975 and 6,314, the total is 11,289 which is almost identical to the REBGV monthly report number.

    I noticed that your REBGV Total is always higher than REBGV attached + detached combined in all of your daily blogs. What accounts for this difference and which number is more reliable?

  2. Hi Mark:

    Without diving too deeply into it to find the difference I can’t tell you.

    Neither one is more or less reliable – they’re the same numbers in the same database.

    The difference is going to reside in which sub-areas and which categories are counted by whoever is counting them.

    I’ll try to post some screenshots of criteria and you might be able to determine where the differences come from.

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