VANCOUVER WEST APRIL HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release provides some stress relief for Buyers, previously feeling rushed to perform due diligence in order to have an offer succeed. Pressure has eased in light of more inventory and interest rate increases, making last month more of a typical April with sales just 1.5 percent over the 10 year average for that month. Still, inventory of new listings last month is 23.1 percent lower than April a year ago and total inventory of listed properties falls 14.1 percent year to year. Annual sales of all residential properties in Metro Vancouver decrease 34.1 percent last month. The composite value of all properties is 18.9 percent higher April to April.
The graph shows an uptick of 1.9 percent from March to April in the average price for detached properties. The benchmark price for houses in April 2022 is 20.8 percent higher than last April. Year to year the volume of detached home sales is down by 41.9 percent.
Last month versus April 2021, Vancouver west detached prices increase 8.3 percent. Year to year west side house sales are down 33.1 percent. April 2022 inventory is 18.8 percent lower than that of the previous April.
From March to April west side house sales drop 25 percent. Month to month detached inventory is up by 3.6 percent.