VANCOUVER EAST APRIL HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reports very dramatic differences between April 2021 and the previous April when the market abruptly halted due to pandemic jitters. Last month records a sales increase of 342.6 percent compared to April 2020. This year homes are being listed at record levels yet more supply is needed to meet the demand caused by increased space requirements, low interest rates, a high savings rate and strong economy. New listings are up 243.2 percent year to year yet the total inventory of listed properties is only up 9.1 percent April to April. Last month the annual composite value of all properties rises 12 percent.
The graph shows an increase of 0.7 percent from March to April in the average price for Metro Vancouver detached properties. The benchmark price for detached homes last month is 20.9 percent higher than April 2020. The volume of house sales is up 326.5 percent year to year.
Last month versus April 2020, east side house prices are 16.1 percent higher. Year over year Vancouver east detached sales increase by an astounding 351 percent. April to April inventory is up 501.2 percent.
From March to April east side house sales fall 9.4 percent. Month to month east side inventory adds 6.7 percent.