VANCOUVER EAST APRIL HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release confirms predictions of sales and listings in April falling victim to Covid 19 physical distancing measures. Meantime, as an essential service, Realtors have quickly adapted to responsibly serving and advising Sellers and Buyers with new practises and innovative technology.
April sees residential detached, attached and apartment sales decrease 39.4 percent compared to April 2019. Year to year the total inventory of listed properties declines 34.6 percent. In the same time period new listings take a deep dive of 59.7 percent. Despite all of this, April to April the composite value of all Metro Vancouver properties is up 2.5 percent.
The graph shows the average price for Metro Vancouver detached properties in April falling 6.5 percent from March. The benchmark price for detached homes last month is 2.3 percent higher than April 2019. The volume of house sales is down 33.8 percent year to year.
East side house prices year over year are up 5.5 percent. Last month versus April 2019 Vancouver east detached sales fall by 25.7 percent. April to April inventory drops 62.6 percent.
March to April east side house sales log a decline of 55 percent. Month to month east side inventory is 57.4 percent less.