Mid-Month August Report

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At mid-month in August home sales are performing marginally better than July of this year at mid month keeping in mind there has been 9 days of reported sales compared to 10 days in July for the numbers below. There have been 1,304 sales so far in August while there were 1,404 sales in July at mid-month after 1 additional day.

Looking at the average daily sales going back to the beginning of April, the period from the middle of July into the first week of August so far has been the most sales reported, with last week showing a decrease from the high.

We are definitely seeing a higher number of people taking holidays within the province – just try booking accommodation and you’ll see that to be the case. While August numbers so far look to be ahead in terms of average number of sales so far, that may change through the second half of the month. Regardless, it will still be ahead of August 2019 and 2018.

On the supply side, the number of new listings coming on market are still high, with active listings climbing up to 13,227 – albeit down from this time last August when there were 14,576. The market still suffers from a lack of homes available for sale keeping many areas and product types in seller’s market conditions.

We continue to see increased activity above $5 Million in Vancouver with there being multiple offers on a $10 Million plus property on Vancouver’s west side in recent weeks. With interest rates remaining low and buyer sentiment positive, activity in the market will continue to be strong.

Average Daily Sales and Listings in Greater Vancouver:

April – 120 new listings, 56 sales
May – 189 new listings, 75 sales
June 1 to 5 – 271 new listings, 88 sales
June 8 to 12 – 272 new listings, 107 sales
June 15 to 19 – 274 new listings, 120 sales
June 22 to 26 – 241 new listings, 129 sales
June 29 to July 3 – 311 new listings, 133 sales
July 6 to 10 – 302 new listings, 138 sales
July 13 to 17 – 294 new listings, 146 sales
July 20 to 24 – 258 new listings, 151 sales
July 27 to 31 – 245 new listings, 154 sales
August 3 to 7 – 337 new listings, 151 sales
August 10 to 14 – 282 new listings, 140 sales

Here is a summary of the activity so far:

Greater Vancouver – 1,304 Units Sold so far in August 2020 as of August 14 (after 9 days of sales reported) compared to 1,404 at mid-month in July 2020 (after 10 days of sales reported), 1,167 Units Sold at this time in August 2019 and 1,091 at the same time in August 2018. Total New Listings so far in August are 2,758 compared to 3,098 at mid-month in July 2020, 2,161 at this time in August 2019 and 2,347 at this time in August 2018. Total Active Listings are at 13,227 (14,576 at the same time in August 2019 and 12,548 at mid-July 2020), Sales To Listings Ratio is at 47% compared to 45% at this time in July 2020, and 54% at this time in August 2019.

Vancouver West – 207 Units Sold so far in August 2020 (after 9 days of sales reported) compared to 205 at mid-month in July 2020 (after 10 days of sales reported), 208 Units Sold at this time in August 2019 and 210 at the same time in August 2018. Total New Listings so far in August are 548 compared to 621 at at mid-month in July 2020, 372 at this time in August 2019 and 548 at this time in August 2018. Total Active Listings are at 2,570 (2,450 at the same time in August 2019 and 2,369 at mid-July 2020), Sales To Listings Ratio is at 38% compared to 33% at this time in July 2020, and 56% at this time in August 2019.

Vancouver East – 136 Units Sold so far in August 2020 (after 9 days of sales reported) compared to 156 at mid-month in July 2020 (after 10 days of sales reported), 126 Units Sold at this time in August 2019 and 103 at the same time in August 2018. Total New Listings so far in August are 333, compared to 341 at at mid-month in July 2020, 195 at this time in August 2019 and 239 at this time in August 2018. Total Active Listings are at 1,245 (1,294 at the same time in August 2019 and 1,120 at mid-July 2020), Sales To Listings Ratio is at 41% compared to 46% at this time in July 2020, and 65% at this time in August 2019.

North Vancouver – 106 Units Sold so far in August 2020 (after 9 days of sales reported) compared to 120 at mid-month in July 2020 (after 10 days of sales reported), 102 Units Sold at this time in August 2019 and 73 at the same time in August 2018. Total New Listings so far in August are 213 compared to 341 at at mid-month in July 2020, 159 at this time in August 2019 and 157 at this time in August 2018. Total Active Listings are at 874 (889 at the same time in August 2019 and 853 at mid-July 2020), Sales To Listings Ratio is at 50% compared to 46% at this time in July 2020, and 64% at this time in August 2019.

West Vancouver – 33 Units Sold so far in August 2020 (after 9 days of sales reported) compared to 34 at mid-month in July 2020 (after 10 days of sales reported), 25 Units Sold at this time in August 2019 and 27 at the same time in August 2018. Total New Listings so far in August are 83 compared to 116 at at mid-month in July 2020, 72 at this time in August 2019 and 86 at this time in August 2018. Total Active Listings are at 637 (702 at the same time in August 2019 and 630 at mid-July 2020), Sales To Listings Ratio is at 40% compared to 29% at this time in July 2020, and 35% at this time in August 2019.

Richmond – 130 Units Sold so far in August 2020 (after 9 days of sales reported) compared to 161 at mid-month in July 2020 (after 10 days of sales reported), 126 Units Sold at this time in August 2019 and 140 at the same time in August 2018. Total New Listings so far in August are 317 compared to 332 at at mid-month in July 2020, 273 at this time in August 2019 and 336 at this time in August 2018. Total Active Listings are at 1,682 (2,239 at the same time in August 2019 and 1,623 at mid-July 2020), Sales To Listings Ratio is at 41% compared to 48% at this time in July 2020, and 46% at this time in August 2019.

Burnaby East – 15 Units Sold so far in August 2020 (after 9 days of sales reported) compared to 14 at mid-month in July 2020 (after 10 days of sales reported), 13 Units Sold at this time in August 2019 and 11 at the same time in August 2018. Total New Listings so far in August are 28 compared to 27 at at mid-month in July 2020, 32 at this time in August 2019 and 17 at this time in August 2018. Total Active Listings are at 144 (171 at the same time in August 2019 and 126 at mid-July 2020), Sales To Listings Ratio is at 54% compared to 52% at this time in July 2020, and 41% at this time in August 2019.

Burnaby North – 90 Units Sold so far in August 2020 (after 9 days of sales reported) compared to 58 at mid-month in July 2020 (after 10 days of sales reported), 49 Units Sold at this time in August 2019 and 49 at the same time in August 2018. Total New Listings so far in August are 165 compared to 153 at at mid-month in July 2020, 122 at this time in August 2019 and 112 at this time in August 2018. Total Active Listings are at 593 (621 at the same time in August 2019 and 532 at mid-July 2020), Sales To Listings Ratio is at 55% compared to 38% at this time in July 2020, and 49% at this time in August 2019.

Burnaby South – 55 Units Sold so far in August 2020 (after 9 days of sales reported) compared to 45 at mid-month in July 2020 (after 10 days of sales reported), 56 Units Sold at this time in August 2019 and 57 at the same time in August 2018. Total New Listings so far in August are 144 compared to 155 at at mid-month in July 2020, 153 at this time in August 2019 and 128 at this time in August 2018. Total Active Listings are at 685 (825 at the same time in August 2019 and 607 at mid-July 2020), Sales To Listings Ratio is at 38% compared to 29% at this time in July 2020, and 37% at this time in August 2019.

New Westminster – 72 Units Sold so far in August 2020 (after 9 days of sales reported) compared to 80 at mid-month in July 2020 (after 10 days of sales reported), 49 Units Sold at this time in August 2019 and 102 at the same time in August 2018. Total New Listings so far in August are 141 compared to 143 at at mid-month in July 2020, 102 at this time in August 2019 and 95 at this time in August 2018. Total Active Listings are at 495 (516 at the same time in August 2019 and 457 at mid-July 2020), Sales To Listings Ratio is at 51% compared to 56% at this time in July 2020, and 48% at this time in August 2019.

Coquitlam – 100 Units Sold so far in August 2020 (after 9 days of sales reported) compared to 121 at mid-month in July 2020 (after 10 days of sales reported), 113 Units Sold at this time in August 2019 and 107 at the same time in August 2018. Total New Listings so far in August are 197 compared to 212 at at mid-month in July 2020, 203 at this time in August 2019 and 215 at this time in August 2018. Total Active Listings are at 882 (1,082 at the same time in August 2019 and 863 at mid-July 2020), Sales To Listings Ratio is at 51% compared to 57% at this time in July 2020, and 56% at this time in August 2019.

Port Moody – 34 Units Sold so far in August 2020 (after 9 days of sales reported) compared to 39 at mid-month in July 2020 (after 10 days of sales reported), 25 Units Sold at this time in August 2019 and 21 at the same time in August 2018. Total New Listings so far in August are 66 compared to 75 at mid-month in July 2020, 52 at this time in August 2019 and 31 at this time in August 2018. Total Active Listings are at 271 (231 at the same time in August 2019 and 270 at mid-July 2020), Sales To Listings Ratio is at 52% compared to 52% at this time in July 2020, and 48% at this time in August 2019.

Port Coquitlam – 37 Units Sold so far in August 2020 (after 9 days of sales reported) compared to 48 at mid-month in July 2020 (after 10 days of sales reported), 44 Units Sold at this time in August 2019 and 40 at the same time in August 2018. Total New Listings so far in August are 74 compared to 83 at mid-month in July 2020, 57 at this time in August 2019 and 77 at this time in August 2018. Total Active Listings are at 252 (352 at the same time in August 2019 and 241 at mid-July 2020), Sales To Listings Ratio is at 50% compared to 58% at this time in July 2020, and 77% at this time in August 2019.

Ladner – 19 Units Sold so far in August 2020 (after 9 days of sales reported) compared to 22 at mid-month in July 2020 (after 10 days of sales reported), 19 Units Sold at this time in August 2019 and 15 at the same time in August 2018. Total New Listings so far in August are 24 compared to 29 at mid-month in July 2020, 32 at this time in August 2019 and 23 at this time in August 2018. Total Active Listings are at 149 (189 at the same time in August 2019 and 145 at mid-July 2020), Sales To Listings Ratio is at 79% compared to 76% at this time in July 2020, and 59% at this time in August 2019.

Tsawwassen – 22 Units Sold so far in August 2020 (after 9 days of sales reported) compared to 30 at mid-month in July 2020 (after 10 days of sales reported), 14 Units Sold at this time in August 2019 and 15 at the same time in August 2018. Total New Listings so far in August are 59 compared to 66 at mid-month in July 2020, 35 at this time in August 2019 and 16 at this time in August 2018. Total Active Listings are at 315 (281 at the same time in August 2019 and 283 at mid-July 2020), Sales To Listings Ratio is at 37% compared to 45% at this time in July 2020, and 40% at this time in August 2019.

For more information on how you can sell or buy in this market, contact me anytime.