Great Vancouver Home Sales and Listings Report May 2020

Positive is the feeling both in the real estate market and for the first time, in the pandemic. With announcements of economic opening and gradual returns for some businesses, it is seeming like we are coming out from one heck of a storm. The numbers so far in May for real estate sales and new listings are showing a similar sentiment. Below are the daily new listings and sales for Greater Vancouver:

April 20 to 24 - Daily Average – 117 new listings, 48 sales
April 27 to May 1 - Daily Average – 126 new listings, 48 sales
May 4 to 8 - Daily Average – 168 new listings, 58 sales
May 11 to 15 – Daily Average – 169 new listings, 69 sales
May 19 – 342 new listings, 123 sales 

Beginning of March – Daily Average – 251 new listings, 138 sales

Yesterday saw the highest number of daily new listings likely this year with the total number of sales reported being the highest since we before we became entrenched in this lock down. Buyers and sellers are becoming more active in the market which is likely to continue in the coming weeks and months ahead. As more listings come to market, buyers will have more options to choose from which will help with what’s been a very competitive environment among buyers. There have been too few homes available. In Greater Vancouver, home sales to mid-May are up 22 per cent compared to sales in April at mid-month. On the supply of homes, the total number of new listings at mid-month are up 68 per cent compared to April. While most areas were up in this regard, Richmond and Coquitlam saw sales down in May compared to April for these time frames. Total active listings in Greater Vancouver though are only up 2 per cent.

May will show improvement overall in the real estate market as we carry through, with the total number of sales in the second half of the month being higher than the first half. While it will be down from May last year in terms of sales volume and new listings, so far prices have remained stable. Debate will continue as to the effects of economy on real estate prices going forward, but perhaps we need to temper the debate with getting through Phase 2 of the provincial plan for reopening the economy and phasing out restrictions. As we saw in March, a lot can happen in a span of a few weeks. We just might be surprised at what positive outcomes can happen.

 Summing up the Numbers: Greater Vancouver – 686 Units Sold so far in May 2020 compared to 1,148 Units Sold so far at this time in May 2019 (down 40%) and 564 Units Sold at this point in April 2020 (up 22%). Total New Listings so far in May are 1,851 compared to 3,181 at this point in May 2019 (down 42%) and 1,105 at this point in April 2020 (up 68%). Total Active Listings are at 10,260 compared to 15,416 at this time last year and 10,027 as of April 15, 2020. Sales To Listings Ratio is at 37% compared to 36% in May 2019 and 49% as of April 15, 2020.

 Vancouver West - 117 Units Sold so far in May 2020 compared to 207 Units Sold so far at this time in May 2019 (down 43%) and 96 Units Sold at this point in April 2020 (up 18%). Total New Listings so far in May are 371 compared to 561 at this point in May 2019 (down 34%) and 196 at this point in April 2020 (up 89%). Total Active Listings are at 1,829 compared to 2,792 at this time last year and 1,726 as of April 15, 2020. Sales To Listings Ratio is at 32% compared to 37% in May 2019 and 49% as of April 15, 2020.

 Vancouver East – 77 Units Sold so far in May 2020 compared to 131 Units Sold so far at this time in May 2019 (down 41%) and 58 Units Sold at this point in April 2020 (up 33%). Total New Listings so far in May are 175 compared to 305 at this point in May 2019 (down 43%) and 124 at this point in April 2020 (up 41%). Total Active Listings are at 844 compared to 1,432 at this time last year and 830 as of April 15, 2020. Sales To Listings Ratio is at 44% compared to 43% in May 2019 and 47% as of April 15, 2020.

 North Vancouver – 55 Units Sold so far in May 2020 compared to 112 Units Sold so far at this time in May 2019 (down 51%) and 48 Units Sold at this point in April 2020 (up 15%). Total New Listings so far in May are 147 compared to 264 at this point in May 2019 (down 44%) and 89 at this point in April 2020 (up 65%). Total Active Listings are at 643 compared to 1,044 at this time last year and 622 as of April 15, 2020. Sales To Listings Ratio is at 37% compared to 42% in May 2019 and 54% as of April 15, 2020.

 West Vancouver – 19 Units Sold so far in May 2020 compared to 30 Units Sold so far at this time in May 2019 (down 37%) and 13 Units Sold at this point in April 2020 (up 46%). Total New Listings so far in May are 84 compared to 130 at this point in May 2019 (down 35%) and 43 at this point in April 2020 (up 95%). Total Active Listings are at 530 compared to 741 at this time last year and 573 as of April 15, 2020. Sales To Listings Ratio is at 23% compared to 23% in May 2019 and 30% as of April 15, 2020.

 Richmond – 72 Units Sold so far in May 2020 compared to 120 Units Sold so far at this time in May 2019 (down 52%) and 78 Units Sold at this point in April 2020 (down 8%). Total New Listings so far in May are 207 compared to 400 at this point in May 2019 (down 48%) and 109 at this point in April 2020 (up 90%). Total Active Listings are at 1,404 compared to 2,293 at this time last year and 1,380 as of April 15, 2020. Sales To Listings Ratio is at 35% compared to 30% in May 2019 and 72% as of April 15, 2020.

 Burnaby East – 11 Units Sold so far in May 2020 compared to 10 Units Sold so far at this time in May 2019 (up 10%) and 7 Units Sold at this point in April 2020 (up 57%). Total New Listings so far in May are 17 compared to 25 at this point in May 2019 (down 32%) and 16 at this point in April 2020 (up 6%). Total Active Listings are at 97 compared to 152 at this time last year and 99 as of April 15, 2020. Sales To Listings Ratio is at 65% compared to 40% in May 2019 and 56% as of April 15, 2020.

 Burnaby North – 43 Units Sold so far in May 2020 compared to 56 Units Sold so far at this time in May 2019 (down 23%) and 18 Units Sold at this point in April 2020 (139%). Total New Listings so far in May are 80 compared to 158 at this point in May 2019 (down 49%) and 56 at this point in April 2020 (up 43%). Total Active Listings are at 407 compared to 656 at this time last year and 386 as of April 15, 2020. Sales To Listings Ratio is at 54% compared to 35% in May 2019 and 32% as of April 15, 2020.

 Burnaby South – 34 Units Sold so far in May 2020 compared to 58 Units Sold so far at this time in May 2019 (down 41%) and 29 Units Sold at this point in April 2020 (up 17%). Total New Listings so far in May are 65 compared to 170 at this point in May 2019 (down 40%) and 48 at this point in April 2020 (up 35%). Total Active Listings are at 450 compared to 820 at this time last year and 457 as of April 15, 2020. Sales To Listings Ratio is at 52% compared to 34% in May 2019 and 60% as of April 15, 2020.

 New Westminster – 41 Units Sold so far in May 2020 compared to 51 Units Sold so far at this time in May 2019 (down 20%) and 37 Units Sold at this point in April 2020 (up 11%). Total New Listings so far in May are 71 compared to 145 at this point in May 2019 (down 51%) and 45 at this point in April 2020 (up 58%). Total Active Listings are at 326 compared to 563 at this time last year and 336 as of April 15, 2020. Sales To Listings Ratio is at 58% compared to 35% in May 2019 and 82% as of April 15, 2020.

 Coquitlam – 44 Units Sold so far in May 2020 compared to 88 Units Sold so far at this time in May 2019 (down 50%) and 46 Units Sold at this point in April 2020 (down 4%). Total New Listings so far in May are 192 compared to 281 at this point in May 2019 (down 32%) and 93 at this point in April 2020 (up 106%). Total Active Listings are at 731 compared to 1,130 at this time last year and 696 as of April 15, 2020. Sales To Listings Ratio is at 23% compared to 31% in May 2019 and 49% as of April 15, 2020.

 Port Moody – 24 Units Sold so far in May 2020 compared to 26 Units Sold so far at this time in May 2019 (down 8%) and 10 Units Sold at this point in April 2020 (up 140%). Total New Listings so far in May are 36 compared to 63 at this point in May 2019 (down 43%) and 28 at this point in April 2020 (up 29%). Total Active Listings are at 192 compared to 257 at this time last year and 199 as of April 15, 2020. Sales To Listings Ratio is at 67% compared to 41% in May 2019 and 36% as of April 15, 2020.

 Port Coquitlam – 26 Units Sold so far in May 2020 compared to 54 Units Sold so far at this time in May 2019 (down 52%) and 22 Units Sold at this point in April 2020 (up 18%). Total New Listings so far in May are 47 compared to 98 at this point in May 2019 (down 52%) and 37 at this point in April 2020 (up 27%). Total Active Listings are at 197 compared to 383 at this time last year and 189 as of April 15, 2020. Sales To Listings Ratio is at 55% compared to 55% in May 2019 and 59% as of April 15, 2020.

 Ladner – 8 Units Sold so far in May 2020 compared to 16 Units Sold so far at this time in May 2019 (down 50%) and 6 Units Sold at this point in April 2020 (up 33%). Total New Listings so far in May are 18 compared to 35 at this point in May 2019 (down 49%) and 17 at this point in April 2020 (up 106%). Total Active Listings are at 158 compared to 194 at this time last year and 171 as of April 15, 2020. Sales To Listings Ratio is at 44% compared to 46% in May 2019 and 35% as of April 15, 2020.

 Tsawwassen – 24 Units Sold so far in May 2020 compared to 17 Units Sold so far at this time in May 2019 (up 41%) and 24 Units Sold at this point in April 2020. Total New Listings so far in May are 39 compared to 54 at this point in May 2019 (down 28%) and 20 at this point in April 2020 (up 95%). Total Active Listings are at 211 compared to 316 at this time last year and 210 as of April 15, 2020. Sales To Listings Ratio is at 62% compared to 31% in May 2019 and 70% as of April 15, 2020.