VANCOUVER WEST APRIL HOUSE 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 shows the average price of Metro Vancouver detached properties as elevated 3.1 percent from March to April. The benchmark price for detached houses last month compared to April 2017 is up 5.1 percent. The volume of house sales is down year to year by 33.4 percent.
Last month versus April 2017 Vancouver west detached prices are 2.6 percent lower. Year to year west side house sales continue on a diminishing tangent falling 37.6 percent. April to April inventory increases 15.8 percent.
March to April this year sales of west side houses are up minutely by 0.3 percent. Month to month detached inventory is up 29.9 percent.