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What’s in a number? The real estate market carries on, sort of. It would be easy to be a doomsayer at a time like this and call on the market to crumble. And not by any means am I a Pollyanna. But if you took away the actual sales and new listings numbers the result would show a market with strong absorption of new listings from buyers in the market. And if you compared that metric to last year at this time, it would show better market conditions. Now numbers don’t lie – sales since the real estate market peaked in early March show the number of homes sold are down 50 to 60 per cent. The number of new listings coming on the market are down 45 to 60 per cent. The new listings coming on are in the period since the pandemic broke out and the sales now are mostly transactions written since the middle of March too. There is still a market amidst COVID-19, there are still multiple offers occurring. Even this week and not just on one-bedroom apartments.

These are the daily new listings and sales for Greater Vancouver:

March 23 to 27 - Daily Average – 137 new listings, 104 salesMarch 30 to April 3 - Daily Average – 104 new listings, 62 salesApril 6 to 9 - Daily Average – 137 new listings, 58 salesApril 14 to 16 – Daily Average – 139 new listings, 70 sales
 Beginning of March – Dailey Average – 251 new listings, 138 sales

Will this change? Absolutely. Will it go up or will it go down? Where will prices go? It’s hard to say having not been thru a pandemic before. The coming months will show us. But what the first month has portrayed is that despite one of the most difficult times in modern history, real estate carried on. Economic factors will be at play as we move forward: job losses, equity market turmoil, business challenge and failures. But there will be a recovery. There will be an economy. And there will be a market. And more than ever, people will focus on where they live as the centre piece of life decisions. We’ll certainly have had enough time staring at the four walls around us to think about it. 

Summing up the Numbers:

Greater Vancouver – 564 Units Sold so far in April 2020 compared to 856 Units Sold so far at this time in April 2019 (down 34%) and 1,039 Units Sold at this point in March 2020 (down 46%). Total New Listings so far in March are 1,105 compared to 2,890 at this point in April 2019 and 2,511 at this point in March 2020. Total Active Listings are at 10,027 compared to 14,230 at this time last year. Sales To Listings Ratio is at 51% compared to 30% in April 2019.

Vancouver West - 96 Units Sold so far in April 2020 compared to 154 Units Sold so far at this time in April 2019 (down 38%) and 259 Units Sold at this point in March 2020 (down 63%). Total New Listings so far in March are 196 compared to 568 at this point in April 2019 and 463 at this point in March 2020. Total Active Listings are at 1,726 compared to 2,648 at this time last year. Sales To Listings Ratio is at 49% compared to 27% in April 2019.

Vancouver East – 58 Units Sold so far in April 2020 compared to 94 Units Sold so far at this time in April 2019 (down 38%) and 163 Units Sold at this point in March 2020 (down 64%). Total New Listings so far in March are 124 compared to 301 at this point in April 2019 and 249 at this point in March 2020. Total Active Listings are at 830 compared to 1,335 at this time last year. Sales To Listings Ratio is at 47% compared to 31% in April 2019.

North Vancouver – 48 Units Sold so far in April 2020 compared to 71 Units Sold so far at this time in April 2019 (down 32%) and 114 Units Sold at this point in March 2020 (down 58%). Total New Listings so far in March are 89 compared to 273 at this point in April 2019 and 202 at this point in March 2020. Total Active Listings are at 622 compared to 989 at this time last year. Sales To Listings Ratio is at 54% compared to 26% in April 2019.

West Vancouver – 13 Units Sold so far in April 2020 compared to 27 Units Sold so far at this time in April 2019 (down 52%) and 38 Units Sold at this point in March 2020 (down 66%). Total New Listings so far in March are 43 compared to 119 at this point in April 2019 and 115 at this point in March 2020. Total Active Listings are at 573 compared to 695 at this time last year. Sales To Listings Ratio is at 30% compared to 23% in April 2019.

Richmond – 78 Units Sold so far in April 2020 compared to 80 Units Sold so far at this time in April 2019 (down 2%) and 161 Units Sold at this point in March 2020 (down 52%). Total New Listings so far in March are 109 compared to 367 at this point in April 2019 and 303 at this point in March 2020. Total Active Listings are at 1,380 compared to 1,508 at this time last year. Sales To Listings Ratio is at 72% compared to 53% in April 2019.

Burnaby East – 7 Units Sold so far in April 2020 compared to 10 Units Sold so far at this time in April 2019 (down 30%) and 14 Units Sold at this point in March 2020 (down 50%). Total New Listings so far in March are 16 compared to 25 at this point in April 2019 and 21 at this point in March 2020. Total Active Listings are at 99 compared to 94 at this time last year. Sales To Listings Ratio is at 56% compared to 40% in April 2019. 

Burnaby North – 18 Units Sold so far in April 2020 compared to 37 Units Sold so far at this time in April 2019 (down 51%) and 68 Units Sold at this point in March 2020 (down 74%). Total New Listings so far in March are 56 compared to 139 at this point in April 2019 and 125 at this point in March 2020. Total Active Listings are at 386 compared to 586 at this time last year. Sales To Listings Ratio is at 32% compared to 27% in April 2019.

Burnaby South – 29 Units Sold so far in April 2020 compared to 33 Units Sold so far at this time in April 2019 (down 12%) and 72 Units Sold at this point in March 2020 (down 60%). Total New Listings so far in March are 48 compared to 141 at this point in April 2019 and 131 at this point in March 2020. Total Active Listings are at 457 compared to 813 at this time last year. Sales To Listings Ratio is at 60% compared to 23% in April 2019.

New Westminster – 37 Units Sold so far in April 2020 compared to 56 Units Sold so far at this time in April 2019 (down 34%) and 56 Units Sold at this point in March 2020 (down 34%). Total New Listings so far in March are 45 compared to 131 at this point in April 2019 and 106 at this point in March 2020. Total Active Listings are at 336 compared to 481 at this time last year. Sales To Listings Ratio is at 82% compared to 43% in April 2019.

Coquitlam – 46 Units Sold so far in April 2020 compared to 77 Units Sold so far at this time in April 2019 (down 40%) and 109 Units Sold at this point in March 2020 (down 58%). Total New Listings so far in March are 93 compared to 213 at this point in April 2019 and 216 at this point in March 2020. Total Active Listings are at 696 compared to 982 at this time last year. Sales To Listings Ratio is at 49% compared to 36% in April 2019.

Port Moody – 10 Units Sold so far in April 2020 compared to 25 Units Sold so far at this time in April 2019 (down 60%) and 34 Units Sold at this point in March 2020 (down 71%). Total New Listings so far in March are 28 compared to 79 at this point in April 2019 and 53 at this point in March 2020. Total Active Listings are at 199 compared to 241 at this time last year. Sales To Listings Ratio is at 36% compared to 32% in April 2019.

Port Coquitlam – 22 Units Sold so far in April 2020 compared to 31 Units Sold so far at this time in April 2019 (down 29%) and 53 Units Sold at this point in March 2020 (down 58%). Total New Listings so far in March are 37 compared to 80 at this point in April 2019 and 76 at this point in March 2020. Total Active Listings are at 189 compared to 369 at this time last year. Sales To Listings Ratio is at 59% compared to 39% in April 2019.

Ladner – 6 Units Sold so far in April 2020 compared to 15 Units Sold so far at this time in April 2019 (down 60%) and 21 Units Sold at this point in March 2020 (down 71%). Total New Listings so far in March are 17 compared to 33 at this point in April 2019 and 41 at this point in March 2020. Total Active Listings are at 171 compared to 181 at this time last year. Sales To Listings Ratio is at 35% compared to 45% in April 2019.

Tsawwassen – 14 Units Sold so far in April 2020 compared to 9 Units Sold so far at this time in April 2019 (up 56%) and 22 Units Sold at this point in March 2020 (down 36%). Total New Listings so far in March are 20 compared to 50 at this point in April 2019 and 40 at this point in March 2020. Total Active Listings are at 210 compared to 260 at this time last year. Sales To Listings Ratio is at 70% compared to 18% in April 2019.