Vancouver house for sale

New Listings Are Surging In the Vancouver Detached Market

Steve Saretsky -

Early June Stats Highlight Potential Trends In the Vancouver Real Estate Market

As always, this is the mid month REBGV real estate stats. This should give us a rough idea of how the final June numbers shape up. New listings have been trending up in recent months, which is partly seasonal. Sales have rebounded nicely after a substantial plunge near the end of 2016. Here’s how it looks midway through June, 2017.

REBGV Detached

REBGV detached sales were down 10% compared to the first couple weeks of June, 2016. Through the first 15 days there have been 685 sales, which is 3% below the 10 year average for this time period. Meanwhile, new listings have surged. With 1440 new listings so far, that’s 14% above the 10 year average and record for the past 10 years.

REBGV Townhouse

Townhouse sales are performing well in early June. There were 302 Sales through the first 15 days of June, which was 15% above the 10 year average, and a slight jump year over year. New listings are right on par with last year, but still below normal levels. New listings were 16% below the 10 year average.


The condo market continued it’s torrid pace through the first few weeks of June. Sales are well above the 10 year average, and new listings are scarce. This is creating a flurry of multiple offers. Condo sales were 36% above the 10 year average, the 992 sales were slightly below last years 997 sales. To add to that, new listings dropped 6% year over year, and are now 8% above the 10 year average.


A lot can change in two weeks, but the first half of June suggests the condo market will continue to drive most of the activity going forward. Sales are showing little to no signs of slowing down, and new listings are not keeping pace. On the other end of the spectrum, the detached market had the greatest number of new listings than any other June on record during the past 10 years.

Join the Monday Newsletter

Every Monday morning you'll receive a short and entertaining round-up of news on the Vancouver & Canadian Real Estate markets.

"*" indicates required fields

The Canadian Economy

Steve Saretsky -

Happy Monday Morning! We got a string of new data this past week confirming inflation in consumer goods, and housing are proving to be more than transitory. Canada’s consumer price index continued to drift higher with prices hitting an 18 year high, up 4.7% from last October. The recent floods in BC...

Steve Saretsky -

The calls for impending interest rate hikes continues. CIBC’s chief economist, Benjamin Tal, was out recently suggesting the Bank of Canada could hike its benchmark interest rate at least six times beginning in early 2022. “I think there is a risk of getting into the market at today’s rates,” noted Tal....

Steve Saretsky -

The BC Government announced it is looking at several cooling measures for the housing market in 2022. They have highlighted two measures. The first is an end to the blind bidding process, and the other is a mandatory “cooling off period” which will allow any buyer a 7 day recession...

Steve Saretsky -

The Bank of Canada continues to slowly drain liquidity after flooding the system with a firehose of cash during the pandemic. Bank of Canada governor Tiff Macklem announced the end of Canada’s QE program (also known as money printing). Furthermore, in Macklems words, “We expect to begin increasing our policy...

Steve Saretsky -

Consumer price inflation ripped higher in September, surging 4.4% year-over-year, the fastest pace of price increases in 18 years. Let’s discuss this further. We have an inflation problem and the Bank of Canada remains of the view that inflation will be transitory. Although they really can’t say otherwise, for if...

Get the Saretsky Report to your email every month

The Saretsky Report. December 2022