VANCOUVER EAST APRIL TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release provides some stress relief for Buyers, previously feeling rushed to perform due diligence in order to have an offer succeed. Pressure has eased in light of more inventory and interest rate increases, making last month more of a typical April with sales just 1.5 percent over the 10 year average for that month. Still, inventory of new listings last month is 23.1 percent lower than April a year ago and total inventory of listed properties falls 14.1 percent year to year. Annual sales of all residential properties in Metro Vancouver decrease 34.1 percent last month. The composite value of all properties is 18.9 percent higher April to April.
From March to April the graph shows a hefty 6.4 percent increase in value for the average attached unit in Metro Vancouver. Last month compared to the previous April the benchmark townhouse price is up 25 percent. Year to year the volume of townhome sales is down 40 percent.
This April compared to April 2021 Vancouver east townhouse prices rise 18 percent. Year to year attached unit sales are 7.6 percent lower. Inventory is up 2.9 percent from April to April.
March to April east side attached sales decline 22.6 percent. Month to month attached inventory increases 5.3 percent.