"Good ideas are not adopted automatically. They must be driven into practice with courageous patience." - Hyman Rickover
Attached are the Sales and Listings Stats updated to the end of April 2015. What was hot, got a little warmer in April. Greater Vancouver saw the number of properties sold in April increase by 3% - 4,264 compared to 4,132 in March. Total sales in April 2015 are up 38% compared to April 2014 and up 60% compared to 2013. This April saw the strongest month for sales in 10 years, with 2005 being the last year where sales eclipsed the 4,000 unit mark. In fact, since 1988 this is the 4th highest amount of sales in that period. Multiple offers continue in the market, with demand being too strong for the supply. With only 6,041 units listed in Greater Vancouver in April, it was lower than March 2015 at 6,168. The number of properties listed this April was lower than the last 4 years in April – too few homes coming on market. Total active listings are down 20% compared to the same time last year and down 25% compared to the same date in 2013.
Most areas were consistent with this overall trend of a busier April other than Vancouver’s West Side which saw the number of units sold drop to 811 in April from 825 in March. North Vancouver was similar, with there being 336 properties sold compared to 399 in March. Both areas did see less listings come on market in April compared to March though. And while there have various stories of high bids on multiple offers, CMHC has come out and said Vancouver real estate prices deemed low risk for correction. Stability in Greater Vancouver’s high demand is supported by population growth and growth in personal disposable income. While foreign Buyers are a consistent part of Metro Vancouver’s Market, local demand is strengthening. Moving up, down and across is continuing to fuel our market.
April 2015 Sales and Listings Stats All Residential
April 2015 Sales and Listings Stats Houses Townhouses Condos
Here’s a summary of the numbers:
Greater Vancouver: Total Units Sold in April 2015 was 4,264 – up from 4,132 (3%) in March 2015, up from 3,090 (38%) in April 2014, up from 2,666 (60%) in April 2013; Active Listings are at 13,460 compared to 16,629 at this time last year; New Listings in April 2015 were down 1% compared to April 2014 and down 2% compared to March 2015; Month’s Supply of Total Residential Listings is steady at 3 Months (Seller’s Market) and a Sales to Listings Ratio of 71% compared to 51% in April 2014 and 67% in March 2015.
Vancouver Westside Residential: Total Units Sold in April 2015 was 811 – down from 825 (1%) in March 2015, up from 629 (29%) in April 2014, up from 520 (56%) in April 2013; Active Listings are at 2,426 compared to 3,001 at this time last year; New Listings in April 2015 were down 2% compared to April 2014 and up 4% compared to March 2015; Month’s Supply of Total Residential Listings is steady at 3 Months (Seller’s Market) and a Sales to Listings Ratio of 66% compared to 50% in April 2014 and 69% in March 2015.
Vancouver Eastside Residential: Total Units Sold in April 2015 was 467 – even to 464 in March 2015, up from 356 (31%) in April 2014, up from 246 (90%) in April 2013; Active Listings are at 920 compared to 1,150 at this time last year; New Listings in April 2015 were up 3% compared to April 2014 and down 2% compared to March 2015; Month’s Supply of Total Residential Listings is steady at 2 Months (Seller’s Market) and a Sales to Listings Ratio of 76% compared to 60% in April 2014 and 74% in March 2015..
North Vancouver Residential: Total Units Sold in April 2015 was 336– down from 399 (16%) in March 2015, up from 255 (32%) in April 2014, up from 227 (48%) in April 2013; Active Listings are at 769 compared to 1,069 at this time last year; New Listings in April 2015 were down 13% compared to April 2014 and down 14% compared to March 2015; Month’s Supply of Total Residential Listings is steady at 2 Months (Seller’s Market) and a Sales to Listings Ratio of 76% compared to 50% in April 2014 and 77% in March 2015.
West Vancouver Residential: Total Units Sold in April 2015 was 138 – even to 135 in March 2015, up from 99 (38%) in April 2014, up from 89 (55%) in April 2013; Active Listings are at 634 compared to 711 at this time last year; New Listings in April 2015 were down 9% compared to April 2014 and up 7% compared to March 2015; Month’s Supply of Total Residential Listings is steady at 5 Months (Balanced Market) and a Sales to Listings Ratio of 57% compared to 37% in April 2014 and 59% in March 2015.
Richmond Residential: Total Units Sold in April 2015 was 587 – up from 553 (6%) in March 2015, up from 350 (68%) in April 2014, up from 350 (68%) in April 2013; Active Listings are at 1,872 compared to 2,267 at this time last year; New Listings in April 2015 were up 7% compared to April 2014 and up 6% compared to March 2015; Month’s Supply of Total Residential Listings is steady at 3 Months (Seller’s Market) and a Sales to Listings Ratio of 72% compared to 44% in April 2014 and 72% in March 2015.