Stats Update of Year 2018 + Dec 2018 



Metro Vancouver home sales in 2018 were the lowest annual total in the region since 2000. Last year’s sales total was 25% below the region’s 10-year sales average. The most important factors that contributed to the market conditions we saw in 2018 include: high home prices, rising interest rates, new mortgage requirements and taxes. 


I have gathered a summary of the statistics of the Metro Vancouver for all 2018 below:


 2018 Total Sales were 24,619
This is a 31.6% decrease compared to 2017 with 35,993 sales, and a 38.4% decrease compared to the 39,943 residential sales in 2016.


2018 Total Homes Listed for Sale were 53,614
This is a 1.9% decrease compared to 54,655 homes listed in 2017, and a 6.9% decrease compared to the 57,596 homes listed in 2016.


2018 MLS® HPI composite benchmark price for all residential homes in Metro Vancouver ends the year at $1,032,400
This is a 2.7% decrease compared to December 2017.  
- Detached HPI in the region declined 7.8% over the last 12 months and 7.3% over the last 6 months
- Apartment HPI increased 0.6% over the last 12 months and have declined 6.4% since June 2018. 
- Townhouse HPI increased 1.3% since December 2017 and have decreased 5.3% over the last 6 months.   


Please find Metro Vancouver's statistics report for December 2018 below:

 
December 2018’s sales were 43.3% below the 10-year December sales average. 

Total Sales were 1,072
This is a 46.8% decrease compared to the 2,016 sales recorded in December 2017, and a 33.3% decrease from November 2018 when 1,608 homes sold.
- Detached sales were 348, a 43.6% decrease from the 617 detached sales recorded in December 2017
- Apartment sales were 535, which is 34% decrease compared to the 1,028 sales in December 2017
- Townhouse sales were 189, which is 49.1% decrease compared to the 371 sales in December 2017


The Total Accumulated Homes Listed for sale (as of Dec 31st) was 10,275
This is a 47.7% increase compared to December 2017 (6,958) and a 16.5% decrease compared to November 2018 (12,307)

 
Newly Listed Homes for sale was 1,407
This represents a 25.6% decrease compared to the 1,891 homes listed in December 2017 and a 59.3% decrease compared to November 2018 when 3,461 homes were listed.


Sales-to-active-listings ratio was 10.4%
- Detached: 7.1% (Buyer's market)
- Apartment: 14.2% (Balanced market)
- Townhouse: 12% (Buyer's/Balanced market borderline)
(Buyer's Market is below 12%, Balanced Market is between 12-20%, Seller's Market is above 20%)
 


The MLS® Home Price Index (HPI) composite benchmark price was $1,042,100.
        
This represents a 1.4% decrease since November 2017 and a 1.9% decrease compared to October 2018.
- Detached HPI is $1,479,000. This represents a 7.8% decrease from December 2017 and a 1.4% decrease compared to November 2018
- Apartment HPI is $664,100. This represents a 0.6% increase from December 2017 and a 0.6% decrease compared to November 2018. 
- Townhouse HPI is $809,700. This represents a 1.3% increase from December 2017 and a 1.1% decrease compared to November 2018. 



Remember, knowledge is power! Please feel free to contact me to update you with statistic updates tailored to your needs!