VANCOUVER WEST APRIL APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reports surprisingly robust areas in the spring Real Estate market. Despite high interest rates, Buyer demand is on the rise and with depressed inventory, home prices are increasing even more than forecast. Newly listed properties last month are 29.7 percent below April of 2022. Total inventory of listed properties is down 4.2 percent year to year. Sales of all residential properties in Metro Vancouver last month decline 16.5 percent compared to April 2022. The composite value of all properties is 7.4 percent lower April to April.
The graph shows a 1.1 percent rise from March to April for the average condominium sale price in Metro Vancouver. April 2023 compared to the previous April the overall benchmark price for an apartment is down 3.1 percent. Year to year condo sales volume falls 16.5 percent.
Last month compared to April 2022 the benchmark price for a west side apartment dips 3.6 percent. Vancouver west condo sales drop 27.1 percent April to April. Year to year west side apartment inventory is down 31 percent.
From March to April Vancouver west apartment sales rise 8.7 percent. Month to month west side condo inventory is down 10.8 percent.