June 2019 Market Update

Sales and listings stats are attached as of June 15, 2019. The debate continues on what was driving the market and who’s really in all those homes out there. What we do know is supply is continuing to be an issue in the current market with less listings coming on market so far in June than the midpoint of May this year (down 17%) and June last year (down 20%). It would appear we are looking at the peak of Active Listings for the spring market as we’ll be seeing less new listings come out during the summer months. The incidents of multiple offers are increasing as buyers are seeing that new listings priced in today’s market are moving quicker than they have in the last year.  While sales will be below the 10 year average for June, likely to finish at about 2,100 homes sold, the number of new listings are likely to be at 5,000 which would be 12 per cent below the 10 year average for the month of June and close to the lows for the month of June in 2002 and 2003 prior to the run up of sales and prices starting later in 2003. Here is a summary of the activity so far:


Greater Vancouver – 1,052 Units Sold so far in June 2019 compared to 1,148 Units Sold as of May 15, 2019, and 1,294 Unit Sold as of June 18, 2018. Total New Listings so far in June 2019 are 2,651 compared to 3,181 as of May 15, 2019, and 3,318 as of June 17, 2018. Total Active Listings are at 15,697 (12,659 at the same time last year). Sales To Listings Ratio is at 40% compared to 36% in May 2019 at mid-month and 39% at mid-month in June 2018.


Vancouver West - 190 Units Sold so far in June 2019 compared to 207 Units Sold as of May 15, 2019 and 247 Units Sold as of June 17, 2018. Total New Listings so far in June 2019 are 498 compared to 561 as of May 15, 2019 and 601 as of June 17, 2018. Total Active Listings are at 2,765 (2,358 at the same time last year). Sales To Listings Ratio is at 38% compared to 37% in May 2019 at mid-month and 41% at mid-month in June 2018.


Vancouver East – 102 Units Sold so far in June 2019 compared to 131 Units Sold as of May 15, 2019 and 144 Units Sold as of June 17, 2018. Total New Listings so far in June 2019 are 254 compared to 305 as of May 15, 2019 and 402 as of June 17, 2018. Total Active Listings are at 1,420 (1,410 at the same time last year). Sales To Listings Ratio is at 40% compared to 43% in May 2019 at mid-month and 36% at mid-month in June 2018.


North Vancouver – 102 Units Sold so far in June 2019 compared to 112 Units Sold as of May 15, 2019 and 108 Units Sold as of June 17, 2018. Total New Listings so far in June 2019 are 233 compared to 264 as of May 15, 2019 and 261 as of June 17, 2018. Total Active Listings are at 1,056 (811 at the same time last year). Sales To Listings Ratio is at 44% compared to 42% in May 2019 at mid-month and 41% at mid-month in June 2018.


West Vancouver – 22 Units Sold so far in June 2019 compared to 30 Units Sold as of May 15, 2019 and 32 Units Sold as of June 17, 2018. Total New Listings so far in June 2019 are 88 compared to 130 as of May 15, 2019 and 148 as of June 17, 2018. Total Active Listings are at 739 (766 at the same time last year). Sales To Listings Ratio is at 25% compared to 23% in May 2019 at mid-month and 22% at mid-month in June 2018.


Richmond – 144 Units Sold so far in June 2019 compared to 120 Units Sold as of May 15, 2019 and 149 Units Sold as of June 17, 2018. Total New Listings so far in June 2019 are 354 compared to 400 as of May 15, 2019 and 432 as of June 17, 2018. Total Active Listings are at 2,350 (1,789 at the same time last year). Sales To Listings Ratio is at 41% compared to 30% in May 2019 at mid-month and 34% at mid-month in June 2018.

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.