Vancouver East Apartments 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 frames a big rebound with a 7.6 percent jump from March to April in the average condominium sale price for Metro Vancouver. Year to year the overall benchmark price for apartments is up 16.6 percent. The volume of condo sales last month compared to April 2016 is down 18.3 percent.
Vancouver east apartment prices in April 2017 versus the previous April are up by 20 percent. East side apartment sales last month are 15.9 percent below April 2016. Year to year east side condo inventory is down 0.9 percent.
Last month versus March this year east side apartment sales fizzle from an 8.9 percent decrease. Month to month Vancouver east condominium inventory is up 2.9 percent.