Vancouver's Fairview sales at a glance! June 2016

 

Price band                          Inventory            Sales                     Sales Ratio

$400,001 – $500,000        36                           48                           100%

$500,001 – $600,000        41                           42                           100%

$600,001- $700,000          56                           49                           88%

$700,001-$800,000           35                           31                           89%

 

Overall in Fairview there were 59 attached homes listed for sale and there were 58 sales. This is a 98% Sales ratio!

 

What is sales ratio percent as reported in Fairview?

 

The speed of which the current inventory of homes are selling.  It is also known as the Sales-to-Active Listing Ratio and defines the official market type.

The formula: sales for the month ./. Active listings (Inventory) = % of Homes Selling Rate in Fairview

 

Fact: it is a sellers’ market when we have more than 21% sales or greater. We currently have 98% sales ratio across the raider in Fairview so the market is over heated.  

 

DAYS ON MARKET AVERAGE 11

The Most active price band is between $400,000 & $500,000 with average > 100% Sellers Ratio ( Sellers’ Market!)

 

If you are thinking of selling your Fairview home feel free to call me for a FREE  home evalutaion. 604-724-0725 

 

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           "Dear Erica:


We want to thank you for helping us smoothly sell our condo.  You have demonstrated experiences and professionalism in your timely communication, sound real estate knowledge and skills in negotiating offers and completing the contract.  Your comparative analysis of the market condition also helped us to lay out a realistic strategy which leads to a smooth conclusion of the sales of condo. We are lucky to have you as our realtor, who takes the real estate job seriously as a life-long career.


Sincerely,

Sherry & Erwin

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Demands remains elevated across the Metro Vancouver housing market June 2016

Metro Vancouver homes continue to sell at an unprecedented rate in communities across the region.

Residential property sales on the region's Multiple Listing Service® (MLS®) totalled 4,769 in May 2016, an increase of 17.6 per cent from the 4,056 sales recorded in May 2015 and a decrease of 0.3 per cent compared to April 2016 when 4,781 homes sold.

 

Last month’s sales were 35.3 per cent above the 10-year sales average for the month and rank as the highest sales total on record for May.

 

"Home sellers are becoming more active in recent months, although that activity is being outpaced by home buyer demand today," Dan Morrison, REBGV president said.

 

New listings for detached, attached and apartment properties in Metro Vancouver totalled 6,289 in May 2016. This represents an increase of 11.5 per cent compared to the 5,641 units listed in May 2015 and a 2.6 per cent increase compared to April 2016 when 6,127 properties were listed.

 

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 7,726, a 37.3 per cent decline compared to May 2015 (12,336) and a 2.3 per cent increase compared to April 2016 (7,550).

"Economic and job growth in Metro Vancouver is out performing most regions in the country. This is helping to underpin today’s activity," Morrison said.

 

The sales-to-active listings ratio for May 2016 is 61.7 per cent. This is indicative of a seller’s market.

 

Download the full stats package by clicking here

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Don't forget to claim your BC Home Owner Grant! 

You should have received your Property Tax Notice in the mail last week.
Don’t forget to claim your home owner grant to reduce your property tax!
If you are eligible, BC will reduce your taxes by the grant amount. You must apply for your Home Owner Grant every year (by the July due date of your main property tax bill) in order to avoid penalties. 

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