The first month of 2015 saw home sale activity above historical norms, while the number of homes listed for sale trended below typical levels. The latest SnapStats reports that residential property listings in Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver and West Vancouver reached 3,689 on the Multiple Listing Service® (MLS®) in January 2015. This represents a 20% increase compared to the 3,076 listings recorded in December. Last month’s sales were totalled 779 in January and the sales is 9.2% below December of 858.

Market in Downtown Vancouver 

The total number of properties currently listed for sale on MLS® system in Downtown Vancouver is 644 and 156 homes were sold in January. The number of sales recorded in January is the lowest in past 12 month. The number of listing properties has increased 26.5% compared to December 2014. The sales-to-inventory ratio currently sits at 24.22 % average in the Sellers Market, which means 2.4 in 10 homes are selling. This states the 7.02% decreased from 31.24% recorded in December.

The median sales price increased 4.3% from December 2014 to $493,500. Homes are currently selling on the average of 1% below their listing price. The Most Active Price Range is in between $300,000 to $400,000 at 38.27% sales ratio as well as $1.25 million to $1.5 million at 31.82% sales ratio. The Sellers Best Bet is homes in Yaletown and up to 1 bedroom properties. The Buyers Best Bet is the following: Homes between $700,000 to $800,000; $2 million to $2.25 million, Coal Harbor and 3 bedrooms properties.

From the 13 Month Market Trend figure below, sales price in Downtown Vancouver has been unstable since July 2014, and we see a quick rise in January.

Source: SnapStats Metro Vancouver Edition January 2015, SnapStats Publishing Co.

Market in Vancouver West

Sales for both Detached and Attached properties in Vancouver West totalled 211 units out of 1,236 listings. This represents a 12% decrease in sales from December 2015, and Detached and Attached properties in Westside have 17.11% average sales ratio. The Vancouver West Detached Market is facing Balanced Market at 18% sales ratio average. The Most Active Price Band in the Detached Market has decreased to $1.25 to $1.75 million with 54% ratio and $2 million to $2.5 million range with 36% sales ratio, and Attached Market active price band has decreased at $0 to $300,000 range.

Market in Vancouver East 

New listings in Vancouver East reached 757 units and sales are totalled 206 in January. Detached Market is facing Sellers Market with 38% sales ratio and the market is the most active at $900,000 to $1 million with 68% sales ratio, which means 6.8 in 10 homes are sold. The Homes are sold at $1,088,000, and the price is the highest in past 12 months. The inventory of the Attached Market in Vancouver East reached 508, and 112 homes were sold. Homes are selling on average 1% below listing price. The market is facing Sellers Market at 22% sales ratio, and the most active at $500,000 to $600,000 with 30.00% sales ratio.

Market in North Vancouver

Total properties listed in MLS® has become 573 units in North Vancouver in January, and 143 units were sold. The sales ratio has increased to 36.61%, and this shows a 9.43% decrease compared to December 2014. The number of sold properties has been decreasing since April 2014 in North Vancouver Detached Market, and finally shows an increase in December. The Most Active Price Range in December has remaind at $1,000,000 to $1,250.000 with 100% sales ratio. The Attached Market has changed to the Balanced Market, and the sales ratio is at 19.49%.

Market in West Vancouver

Detached Market is Buyers Market now with 12% sales ratio, and the Attached Market has changed to Buyers Market with 11% sales ratio average in January. In Detached Market, the Most Active Price Band has decreased to $1 million to $1.25 million band with 46.15% sales ratio, and homes are selling on average 3% below list price. The number of sales recorded in West Vancouver Detached Market is the second lowest in past 12 month in December. In the Attached Market, the Most Active Price Range has shifted up to $900,000 to $1,000,000 with 22.22% sales ratio.

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