Market/meet alix and shona/testimonials

Vancouver Market

Real Estate News, Market information along with Links to useful resources regarding Vancouvers market conditions and updates from the Real Estate Board.

In the past, jobs were about muscles, now they’re about brains, but in the future they’ll be about the heart.” Inouche Safik

The sales and listings numbers are attached as of November 15, 2020. With significant increases in the number of COVID-19 cases in Metro Vancouver and the recommendation against open houses with a push to more virtual means for showings, the number of property sales are still above last year. In Greater Vancouver, there have been 1,505 sales as of November 15th while there were 1,741 sales last month as of October 15th and 1,253 at November 17th last year. The race to 3,000 sales in the month of November is on, which would be the fifth straight month with the number of sales in Greater Vancouver above being 3,000, after going 32 months below that number. While there will be less properties sold in November compared to October, this is typically the case in any year. But it will likely be the highest number of sales for the month of November since 2015 and certainly above the ten-year average.

And then there’s supply of properties available and in this case, a lack of it. There have been 2,211 new listings in Greater Vancouver so far this month, which is less than the 3,060 new listings at mid-month in October. Total active listings are down slightly to 12,482 from the 13,790 at the end of September. The question for the rest of the 2020, besides when will Donald Trump concede, is how low will the total number of active listings go in Greater Vancouver? Quite likely it will be below 9,000. And that’s not enough available properties when so many are looking at changing where they want to live or get into the market.

No other time has it been said more that home is where the heart is, in fact our homes are more important to our lives and how we live now more than ever before. With more time spent at home, adjusting to working and learning from home in some cases, is it any wonder why so many have moved this year. And don’t expect that to stop. Call it pent up demand or COVID moves, it’s just a function of the current world we are in right now. And that isn’t even taking into account lower interest rates and the increased savings rates of many that are going into real estate.

What’s most important to consider is how we will get through the next number of months of pandemic living. While we may not all agree on how we got here and how we will get out of it, patience and kindness will never be more vital as it will be now. Be kind, be calm, be safe – not just a catch phrase but a necessity as we move towards the end of 2020.

Greater Vancouver Average Daily Listings and Sales:

First two weeks of March – 253 new listings, 138 sales
Last two weeks of March – 167 New Listings, 98 Sales
April – 120 new listings, 56 sales
May – 189 new listings, 75 sales
June – 274 new listings, 115 sales
July – 274 new listings, 147 sales
August – 299 new listings, 157 sales
September – 313 new listings, 176 sales
October 5 to 9 – 300 new listings, 169 sales
October 13 to 16 – 311 new listings, 186 sales
October 19 to 23 – 254 new listings, 206 sales
October 26 to 30 – 222 new listings, 167 sales
November 2 to 6 – 236 new listings, 151 sales
November 9 to 13 – 253 new listings, 188 sales

Here is a summary of the activity so far:

Greater Vancouver – 1,505 Units Sold so far as of November 15 compared to 1,741 as of October 15th, 2020, 1,253 Units Sold at November 17, 2019 and 875 at November 17, 2018. Total New Listings so far in November are 2,211 compared to 3,060 as at October 15, 2020, and 1,776 at November 17, 2019. Total Active Listings are at 12,482 (12,273 at the same time in November 2019 and 13,670 at mid-October 2020), Sales To Listings Ratio is at 68% compared to 57% at this time in October 2020, and 71% at this time in November 2019.

Vancouver West – 209 Units Sold so far as of November 15 compared to 258 as of October 15th, 2020, 206 Units Sold at November 17, 2019 and 154 at November 17, 2018. Total New Listings so far in November are 431 compared to 630 as at October 15, 2020, and 435 at November 17, 2019. Total Active Listings are at 2,731 (2,189 at the same time in November 2019 and 2,878 at mid-October 2020), Sales To Listings Ratio is at 48% compared to 41% at this time in October 2020, and 60% at this time in November 2019.

Vancouver East – 161 Units Sold so far as of November 15 compared to 192 as of October 15th, 2020, 151 Units Sold at November 17, 2019 and 98 at November 17, 2018. Total New Listings so far in November are 265 compared to 395 as at October 15, 2020, and 200 at November 17, 2019. Total Active Listings are at 1,341 (1,101 at the same time in November 2019 and 1,422 at mid-October 2020), Sales To Listings Ratio is at 61% compared to 49% at this time in October 2020, and 76% at this time in November 2019.

North Vancouver – 120 Units Sold so far as of November 15 compared to 155 as of October 15th, 2020, 151 Units Sold at November 17, 2019 and 98 at November 17, 2018. Total New Listings so far in November are 188 compared to 246 as at October 15, 2020, and 132 at November 17, 2019. Total Active Listings are at 781 (717 at the same time in November 2019 and 899 at mid-October 2020), Sales To Listings Ratio is at 64% compared to 63% at this time in October 2020, and 81% at this time in November 2019.

West Vancouver – 46 Units Sold so far as of November 15 compared to 47 as of October 15th, 2020, 34 Units Sold at November 17, 2019 and 19 at November 17, 2018. Total New Listings so far in November are 64 compared to 106 as at October 15, 2020, and 70 at November 17, 2019. Total Active Listings are at 601 (637 at the same time in November 2019 and 648 at mid-October 2020), Sales To Listings Ratio is at 72% compared to 44% at this time in October 2020, and 49% at this time in November 2019.

Richmond – 163 Units Sold so far as of November 15 compared to 173 as of October 15th, 2020, 131 Units Sold at November 17, 2019 and 92 at November 17, 2018. Total New Listings so far in November are 273 compared to 325 as at October 15, 2020, and 230 at November 17, 2019. Total Active Listings are at 1,674 (1,880 at the same time in November 2019 and 1,737 at mid-October 2020), Sales To Listings Ratio is at 60% compared to 53% at this time in October 2020, and 57% at this time in November 2019.

Burnaby East – 20 Units Sold so far as of November 15 compared to 22 as of October 15th, 2020, 15 Units Sold at November 17, 2019 and 11 at November 17, 2018. Total New Listings so far in November are 14 compared to 27 as at October 15, 2020, and 23 at November 17, 2019. Total Active Listings are at 106 (144 at the same time in November 2019 and 141 at mid-October 2020), Sales To Listings Ratio is at 143% compared to 67% at this time in October 2020, and 65% at this time in November 2019.

Burnaby North – 73 Units Sold so far as of November 15 compared to 84 as of October 15th, 2020, 69 Units Sold at November 17, 2019 and 38 at November 17, 2018. Total New Listings so far in November are 131 compared to 165 as at October 15, 2020, and 62 at November 17, 2019. Total Active Listings are at 607 (469 at the same time in November 2019 and 651 at mid-October 2020), Sales To Listings Ratio is at 56% compared to 51% at this time in October 2020, and 111% at this time in November 2019.

Burnaby South – 71 Units Sold so far as of November 72 compared to 1,741 as of October 15th, 2020, 77 Units Sold at November 17, 2019 and 36 at November 17, 2018. Total New Listings so far in November are 107 compared to 157 as at October 15, 2020, and 97 at November 17, 2019. Total Active Listings are at 717 (659 at the same time in November 2019 and 771 at mid-October 2020), Sales To Listings Ratio is at 66% compared to 46% at this time in October 2020, and 79% at this time in November 2019.

New Westminster – 72 Units Sold so far as of November 15 compared to 72 as of October 15th, 2020, 55 Units Sold at November 17, 2019 and 55 at November 17, 2018. Total New Listings so far in November are 87 compared to 147 as at October 15, 2020, and 68 at November 17, 2019. Total Active Listings are at 496 (403 at the same time in November 2019 and 544 at mid-October 2020), Sales To Listings Ratio is at 83% compared to 49% at this time in October 2020, and 91% at this time in November 2019.

Coquitlam – 113 Units Sold so far as of November 15 compared to 160 as of October 15th, 2020, 109 Units Sold at November 17, 2019 and 69 at November 17, 2018. Total New Listings so far in November are 193 compared to 234 as at October 15, 2020, and 120 at November 17, 2019. Total Active Listings are at 833 (815 at the same time in November 2019 and 885 at mid-October 2020), Sales To Listings Ratio is at 59% compared to 68% at this time in October 2020, and 91% at this time in November 2019.

Port Moody – 40 Units Sold so far as of November 15 compared to 54 as of October 15th, 2020, 22 Units Sold at November 17, 2019 and 15 at November 17, 2018. Total New Listings so far in November are 43 compared to 67 as at October 15, 2020, and 22 at November 17, 2019. Total Active Listings are at 234 (185 at the same time in November 2019 and 260 at mid-October 2020), Sales To Listings Ratio is at 93% compared to 81% at this time in October 2020, and 100% at this time in November 2019.

Port Coquitlam – 54 Units Sold so far as of November 15 compared to 62 as of October 15th, 2020, 45 Units Sold at November 17, 2019 and 35 at November 17, 2018. Total New Listings so far in November are 58 compared to 83 as at October 15, 2020, and 54 at November 17, 2019. Total Active Listings are at 224 (185 at the same time in November 2019 and 249 at mid-October 2020), Sales To Listings Ratio is at 93% compared to 75% at this time in October 2020, and 83% at this time in November 2019.

Ladner – 19 Units Sold so far as of November 15 compared to 24 as of October 15th, 2020, 19 Units Sold at November 17, 2019 and 21 at November 17, 2018. Total New Listings so far in November are 19 compared to 25 as at October 15, 2020, and 30 at November 17, 2019. Total Active Listings are at 104 (175 at the same time in November 2019 and 134 at mid-October 2020), Sales To Listings Ratio is at 100% compared to 96% at this time in October 2020, and 63% at this time in November 2019.

Tsawwassen – 31 Units Sold so far as of November 15 compared to 37 as of October 15th, 2020, 19 Units Sold at November 17, 2019 and 9 at November 17, 2018. Total New Listings so far in November are 47 compared to 59 as at October 15, 2020, and 24 at November 17, 2019. Total Active Listings are at 268 (267 at the same time in November 2019 and 312 at mid-October 2020), Sales To Listings Ratio is at 66% compared to 63% at this time in October 2020, and 79% at this time in November 2019.

Download November Sales and Listings Statistics Houses Townhouses Condos

Download November Sales and Listings Statistics All Regional

Market Numbers

 

Real Estate News

News affecting Metro Vancouver’s real estate market

Real Estate Market Articles:

We have compiled a few articles that pertain to the Vancouver Real
Estate Market. Please click on the links below to view the .PDF article.

download .PDF: 1st time buyer assistance


download .PDF: Taxes will only go up if the assessment is greater than the average


download .PDF: Vancouver, Not as Expensive as you think.


download .PDF: The ‘great unoccupied condo scandal’? Get over it.


download .PDF: Buyer’s Positive on Market


download .PDF: Bob Rennie: Vancouver Housing Bubble Fears Overblown, Real Estate Marketer Says.


download .PDF: No Bubble, No Trouble: Forget about a looming housing crash-it’s not going to happen.


download .PDF: Scant evidence behind myth of Vancouver real estate’s foreign buyers.


download .PDF: Bob Rennie: Make up your mind – Is Vancouver the most livable or least affordable place on earth?

Monthly Market Report.

Real Estate Board of Greater Vancouver Market Update

Useful Real Estate Links