VANCOUVER WEST APRIL HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reports surprisingly robust areas in the spring Real Estate market. Despite high interest rates, Buyer demand is on the rise and with depressed inventory, home prices are increasing even more than forecast. Newly listed properties last month are 29.7 percent below April of 2022. Total inventory of listed properties is down 4.2 percent year to year. Sales of all residential properties in Metro Vancouver last month decline 16.5 percent compared to April 2022. The composite value of all properties is 7.4 percent lower April to April.
From March to April the graph shows the average Metro Vancouver price for detached properties is up 1.7 percent. The benchmark price for houses in April 2023 is 8.8 percent below the previous April. Year to year the volume of detached home sales is down by 16.3 percent.
Last month versus April 2022, Vancouver west detached prices are down 6.2 percent. West side house sales rise 2.2 percent year to year. April 2023 inventory is 44.7 percent below the previous April.
From March to April west side house sales are up 1.1 percent. Month to month detached inventory drops 10.7 percent.