VANCOUVER EAST APRIL APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release laments the softest April since 2001 with sales 22.5 percent below the ten year average for that month. Buyers have more selection but are hamstrung by lower purchasing power under new mortgage requirements. Last month total residential sales decline 27.4 percent compared to April 2017. Total inventory of listed properties is up 25.7 percent year to year bolstered by an 18.6 increase in new listings. The composite value of all Metro Vancouver properties increases 14.3 percent this April over the previous April.
The graph illustrates a pick-up in the average condominium sale price for Metro Vancouver of 3.3 percent from March to April. Year to year the overall benchmark price for apartments is up 23.7 percent. The volume of condo sales this April compared to April 2017 declines 24 percent.
Vancouver east apartment prices last month versus the previous April rise 19.7 percent. Year to year east side apartment sales are down by 13.4 percent. East side condo inventory is up 27.1 percent April to April.
March to April east side apartment sales fizzle with a 9 percent drop. Month to month inventory is up 35.3 percent.