Vancouver West Houses 4 17
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release lauds sales returning an above 10 year April average while lamenting a sparse supply. Although activity is below the record set a year ago the conclusion is that upward pressure on prices is a given, particularly regarding the condo and townhouse markets where Sellers will have the upper hand this spring. New listings last month are 19.9 percent lower than April 2016. The total inventory of listed properties is up by 3.5 percent annually. April to April the composite value of all Metro Vancouver properties is up 11.4 percent. Residential sales drop 25.7 percent year to year.
The graph illustrates that the average price for Metro Vancouver detached properties gets a 3 percent bump up from March to April. The benchmark price for detached houses last month compared to April 2016 is up 8.1 percent. The volume of house sales is down 38.8 percent year to year.
Last month versus April 2016 Vancouver west detached prices are 9.3 percent higher. Year to year west side house sales fall by 52.6 percent. April to April inventory is down by 30.9 percent.
March to April sales of west side houses stay positive, up by 14.7 percent. Month to month detached inventory increases 23.6 percent.