Vancouver Real Estate Stats Feb.2020 – Housing Market
Demand increases and low supply in Feb.2020
According to the Real Estate board’s monthly report – home demand steady increase and supply decreases which is a good sign for the sellers in Feb. There were 2,150 homes sold in Feb.2020; 44.9 per cent increase compared to Feb.2019, and 36.9% increase compared to Jan.2020.
However, Feb’s home sales are still 15.6 per cent below the 10-year February sales average.
The Board’s president said that homebuyers demand increase but home listings were having a hard time to keep pace the demand market; especially in the Condo market.
For MLS Listings, there were 4,002 new listings in Feb.2020, which is 3.4% increased compared to Jan.2020.
How about the open houses? To me, I hosted 6 houses in Feb.2020, compared to last year there were more traffics. And I have seen some of the properties got multiple offers as well.
Let’s take a look at the sales-to-active listings ratio:
- 17.3% for detached homes
- 26.9% for townhomes
- 28.4% for apartments
Total Sales in Detached homes, condo, and Townhouses:
- Detached home: 685 houses sold – 52.9% increase from Feb.2019
- Condo: 1,061 apartments sold – 39.8% increase from Feb.2019
- Townhouse: 404 townhomes sold – 45.8% increase from Feb.2019