VANCOUVER EAST APRIL TOWNHOME 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 a 0.3 percent value increase from March to April for the average attached unit in Metro Vancouver. Last month compared to the previous April the benchmark townhouse price increases 13.9 percent. Year to year the volume of townhome sales balloons 342.2 percent.
Last month compared to April 2020 Vancouver east townhouse prices see a 12.2 percent lift. Year to year attached unit sales rocket 441.2 percent higher. Inventory is way up, by 202.2 percent this April versus the previous April.
March to April east side attached sales are 8 percent lower. Month to month attached inventory is minus 13.9 percent.