Last month June was the highest selling, and the second highest overall monthly total on record for the Real Estate Board of Greater Vancouver. The latest SnapStats reports that residential property listings in Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver and West Vancouver reached 4,057 on the Multiple Listing Service® (MLS®) in June 2015. This represents a 7.1% decrease compared to the 4,366 listings recorded in May. Last month’s sales totalled 1,784, and the sales is 7.5% above the 1,660 sales of May.

 

Market in Downtown Vancouver 

The total number of properties currently listed for sale on MLS® system in Downtown Vancouver is 674 and 319 homes were sold in June. The Sales Price recorded in June is the highest in past 12 month. The number of properties listed has decreased 8.1% compared to May 2015. The sales-to-inventory ratio currently sits at 47.33% average in the Sellers Market, which means 4.7 in 10 homes are selling. This states a 9.18% increased from 38.15% recorded in May.

 

The median sales price increased 8.6% from May 2015 to $562,000. Homes are currently selling on the average of 1% below their listing price. The Most Active Price Range is in between $400,000 to $500,000 at 67% sales ratio as well as $1 million to $1.25 million at 54% 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 $0 to $300,000; $1.75 to $2 million, Coal Harbor and 3 bedrooms properties.

 

From the 13 Month Market Trend figure below, sales price in Downtown Vancouver has been increasing since December 2014, and we see continual rise in June 2015.

 

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

 

Market in Vancouver West 

Sales for both Detached and Attached properties in Vancouver West totalled 512 units out of 1,411 listings. This represents a 8.7% increase in sales from May 2015, and Detached and Attached properties in Westside have 39.38% average sales ratio. The Vancouver West Detached Market is facing Sellers Market at 40% average sales ratio. The Most Active Price Band in the Detached Market has decreased to $1.25 to $1.5 million with 100% ratio and $2 to $2.25 million range with 100% sales ratio, and Attached Market active price band has increased at $500,000 to $600,000 range.

 

Market in Vancouver East

New listings in Vancouver East reached 791 units and sale totalled 454 in June. Detached Market is facing Sellers Market with 70% sales ratio and the market is the most active at $1 million to $1.25 million with 100% sales ratio, which means 10 in 10 homes are sold. The Homes are sold at $1,237,000, and the price is the highest in past 12 months. The inventory of the Attached Market in Vancouver East reached 476, and 235 homes were sold. Homes are selling on average 1% below list price. The market is facing Sellers Market at 49% sales ratio, and the most active at $700,000 to $800,000 with 100% sales ratio.

 

Market in North Vancouver

Total properties listed in MLS® has become 615 units in North Vancouver in June, and 331 units are sold. The sales ratio has increased to 66.96%, and this shows a 7.69% increase compared to May 2015. The sales has been increasing since January 2015 in North Vancouver Detached Market, and it was the second highest in last 12 month. The Most Active Price Range in June has increased at $900,000 to $1.5 million with 99% sales ratio. The Attached Market has remained at the Sellers Market, and the sales ratio is at 46%.

 

Market in West Vancouver

West Vancouver Detached Market is Sellers Market now with 22% sales ratio, and the Attached Market has remained to Sellers Market with 27% sales ratio average in June. In Detached Market, the Most Active Price Band has decreased to $2 million to $2.25 million band with 70% sales ratio, and homes are selling on average 2% below list price. In the Attached Market, the Most Active Price Range has decreased to $400,000 to $500,000 with 37.5% sales ratio.

 

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