Month End March 2014 Stats

"Every exit is an entry somewhere else." -Tom Stoppard

“Desire is the starting point of all achievement." - Napoleon Hill

Attached are the Sales and Listings Stats updated to the end of March 2014. Total sales continue to increase, with March sales for Greater Vancouver up 5% over February 2014 and up 14% over March 2013. Overall market conditions continue in a balanced state with 6 months supply of listings available. Total active listings are down 6% compared to this time in 2013 and 2012. Vancouver’s Eastside market is the most active in Greater Vancouver with sales up 7% to February 2014 and up 49% to March 2013. Overall in East Vancouver, there is 3 months supply of listings available – generally a seller’s market.

The first quarter of 2014 is showing balanced conditions in the market place. The end of January and beginning of February showed more activity than the end of February and beginning of March. This could be contributed to Chinese New Year providing a surge in the market with the Olympics then taking away the attention of buyers and sellers. Changes in Federal Immigration policies in February may have hurt higher end sales as well. Stronger economic reports as of late, a decrease in fixed interest rates and a new Finance Minister for Canada who has stated the government won’t intervene in the financing side of real estate should provide for positive conditions moving into April. Spring has arrived (in Vancouver) – much to the dismay of the rest of Canada, which should help to put people in more of a buying and selling mood!

 sales and listings stats all residential

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Here’s a summary of the numbers:

Greater Vancouver: Total Units Sold in March 2014 was 2,697 – up from 2,570 in February 2014, up from 2,373 in March 2013; Active Listings are at 15,540 compared to 16,522 at this time last year; Month’s Supply of Total Residential Listings is steady at 6 Months (Balanced Market).

Vancouver Westside Residential: Total Units Sold in March 2014 was 571 – up from 545 in February 2014, up from 533 in March 2013; Active Listings are at 2,796 compared to 2,955 at this time last year; Month’s Supply of Total Residential Listings is steady at 5 Months (Balanced Market).

Vancouver Eastside Residential: Total Units Sold in March 2014 was 336 – up from 313 in February 2014, up from 225 in March 2013; Active Listings are at 1,064 compared to 1,232 at this time last year; Month’s Supply of Total Residential Listings is steady at 3 Months (Seller’s Market).

North Vancouver Residential:  Total Units Sold in March 2014 was 233 – up from 206 in February 2014, up from 206 in March 2013; Active Listings are at 949 compared to 962 at this time last year; Month’s Supply of Total Residential Listings is steady at 4 Months (Seller’s Market).

West Vancouver Houses: Total Units Sold in March 2014 was 78 – down from 87 in February 2014, steady at 78 compared to March 2013; Active Listings are at 657 compared to 724 at this time last year; Month’s Supply of Total Residential Listings is steady up to 8 Months (Balanced to Buyer’s Market).

Richmond Residential: Total Units Sold in March 2014 was 374 – up from 341 in February 2014, up from 280 in March 2013; Active Listings are at 2,125 compared to 2,245 at this time last year; Month’s Supply of Total Residential Listings is steady at 6 Months (Balanced Market).