Attached are the Sales and Listings Stats updated to the end of June 2015. June sales volume in Greater Vancouver were the highest since May 2007 and the sixth highest monthly total ever. It was the first time in history where residential sales have been over 4,000 units four months in a row. Consistency is a key to the market and right now it is consistent demand and a consistent lack of supply. There were 4,444 units sold in Greater Vancouver in June 2015, up 7% from May 2015 and up 29% from June 2014. The number of Active Listings is down 23% compared to the same time last year. With 3 month’s supply of listings in the market, it is a Seller’s Market compared to a more balanced market last year and a Buyer’s Market in 2013.
There were 22,041 units sold for the first 6 months in Greater Vancouver, up 30% compared to the first 6 months in 2014 and up 59% to the first 6 months in 2013. It has been the highest first half for sales since 2005 and 2004, and the third highest in Real Estate Board history. Total new listings for the first 6 months of 2015 are 8% below the 10 year average. The lack of supply is certainly contributing the price increases in the market and the existence of multiple offers being experienced. With July and August typically seeing new listings decline, this trend is likely to continue. With strong demand continuing, it certainly provides opportunity for those Sellers wanting to come on market. It seems it won’t be a summer of discontent for Sellers but a continuation of Buyers competing.
In the Fraser Valley, June 2015 sales were up 41% compared to June 2014. It was the fourth busiest month for MLS sales in the Fraser Valley. New listings in June increased by 12% providing for some relief in the number of total active listings. Demand within the Fraser Valley appears to be local and consistent with local movement for upsizing and downsizing.
Sales and Listings Stats Houses Townhouses Condos June 2015
Sales and Listings Stats All Regoinal June 2015
Here’s a summary of the numbers:
Greater Vancouver: Total Units Sold in June 2015 was 4,444 – up from 4,145 (7%) in May 2015, up from 3,452 (29%) in June 2014, up from 2,668 (67%) in June 2013; Active Listings are at 13,231 compared to 17,199 at this time last year; New Listings in June 2015 were up 9% compared to June 2014 and up 4% compared to May 2015; Month’s Supply of Total Residential Listings is steady at 3 Months (Seller’s Market) and a Sales to Listings Ratio of 74% compared to 63% in June 2014 and 72% in May 2015.
Vancouver Westside Residential: Total Units Sold in June 2015 was 884 – up from 812 (9%) in May 2015, up from 689 (28%) in June 2014, up from 595 (49%) in June 2013; Active Listings are at 2,228 compared to 3,093 at this time last year; New Listings in June 2015 were down 5% compared to June 2014 and up 0.5% compared to May 2015; Month’s Supply of Total Residential Listings is steady at 3 Months (Seller’s Market) and a Sales to Listings Ratio of 78% compared to 58% in June 2014 and 72% in May 2015.
Vancouver Eastside Residential: Total Units Sold in June 2015 was 467 – up from 446 (5%) in May 2015, up from 373 (25%) in June 2014, up from 279 (67%) in June 2013; Active Listings are at 888 compared to 1,225 at this time last year; New Listings in June 2015 were up 4% compared to June 2014 and down 5% compared to May 2015; Month’s Supply of Total Residential Listings is steady at 2 Months (Seller’s Market) and a Sales to Listings Ratio of 81% compared to 68% in June 2014 and 74% in May 2015.
North Vancouver Residential: Total Units Sold in June 2015 was 339 – up from 333 (2%) in May 2015, up from 280 (21%) in June 2014, up from 207 (64%) in June 2013; Active Listings are at 675 compared to 1,038 at this time last year; New Listings in June 2015 were down 1% compared to June 2014 and down 8% compared to May 2015; Month’s Supply of Total Residential Listings is steady at 2 Months (Seller’s Market) and a Sales to Listings Ratio of 86% compared to 70% in June 2014 and 78% in May 2015.
West Vancouver Residential: Total Units Sold in June 2015 was 132 – down from 141 (6%) in May 2015, up from 126 (5%) in June 2014, up from 94 (40%) in June 2013; Active Listings are at 629 compared to 737 at this time last year; New Listings in June 2015 were up 22% compared to June 2014 and up 4% compared to May 2015; Month’s Supply of Total Residential Listings is up to 5 Months (Balanced Market – in the higher end product with a Seller’s Market below $4-5 Million) and a Sales to Listings Ratio of 51% compared to 60% in June 2014 and 57% in May 2015.
Richmond Residential: Total Units Sold in June 2015 was 546 – down from 547 (0.5%) in May 2015, up from 422 (29%) in June 2014, up from 308 (77%) in June 2013; Active Listings are at 1,909 compared to 2,440 at this time last year; New Listings in June 2015 were up 16% compared to June 2014 and up 7% compared to May 2015; Month’s Supply of Total Residential Listings is steady at 3 Months (Seller’s Market) and a Sales to Listings Ratio of 65% compared to 59% in June 2014 and 70% in May 2015.