REBGV/FVREB Stats For Wednesday May 30, 2018

REBGV and FVREB Real Estate Stats for May 30th, 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
2018-05-30110$1,148,547$1,129,138$19,4091.6922

Fraser Valley Real Estate Board (FVREB) Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-30104$788,939$775,573$13,3651.6918

Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-30214$973,784$957,312$16,4721.6920

Market Monitor All Properties

Sell/list 46.6%. About a 10% decrease from the day before.

Average price, all properties, both boards was below $1 million by about 3.5%.

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
2018-05-3073$864,688$858,936$5,7510.6714

Fraser Valley Real Estate Board (FVREB) Attached Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-3060$526,727$530,498$-3,770-0.7213

Attached Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-30133$712,225$710,769$1,4550.2014

Market Monitor Attached
Sell/list 50.57%. A 10% decrease 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
2018-05-3036$1,722,055$1,675,077$46,9772.7338

Fraser Valley Real Estate Board (FVREB) Detached Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-3041$1,153,836$1,119,032$34,8033.0224

Detached Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-3077$1,419,497$1,379,001$40,4952.8531

Market Monitor Detached
Sell/list 40.03% a slight dip from the day before.

  • 13 properties sold for $2 million or more. Similar numbers to earlier in the week.
  • 45 sold for $500,000 or less. About 15 less properties than the day before.
  • The least expensive sales? A piece of vacant land for development in Mission. The second was a condo in Abbotsford.
  • Most expensive? A 7.3 million dollar penthouse condo in the West End to be completed by 2021.
  • 123 properties sold within 7 days. Much higher than yesterday, it should be noted that the most expensive sale today was only on the market for 8 days.
  • Longest time on market? An undeveloped lot where a former rancher once stood on the East side of Vancouver. 292 days on market.

Inventory

REBGV Total

Inventory is climbs again, only 0.43% however. It is noteworthy for being such a small change.

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 Inventory

REBGV Attached

GV Attached Inventory
FVREB Total

FV Total Inventory

FVREB Detached

FV Detached Inventory

FVREB Attached

FV Attached Inventory
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.

3 comments

  1. hey Rob,

    I just wanted to point out that there has been a bug on your reporting for the past week.

    Your “detached” data keeps showing May 24th results. It’s been this way for the past week.

    I thought I should let you know.

    Otherwise, keep up the good work!

    Thanks

  2. Thanks for putting the data together! Nothing beats raw facts. Keep it up!

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