VANCOUVER WEST 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.
Last month versus April 2017 the benchmark price for west side apartments is 16 percent higher. April to April Vancouver west condo sales are down by 20.1 percent. Year to year west side apartment inventory increases 38.2 percent.
March to April Vancouver west apartment sales rise in no small way by 20.5 percent. Month to month west side condo inventory is up by 43.3 percent.