Vancouver West 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.
The benchmark price for west side apartments April to April is 9.4 percent higher. Vancouver west condo sales decrease by 21.4 percent year to year. This April compared to April 2016 west side apartment inventory is down 23.6 percent.
Month to month Vancouver west apartment sales fall 3.5 percent. West side condo inventory March versus April is at par.