VANCOUVER EAST APRIL APARTMENT 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 displays a 5.4 percent drop from March to April for the average Metro Vancouver condominium sale price. April 2020 compared to the previous April the overall benchmark price for an apartment is 2.7 percent higher. The year to year condo sales volume experiences a 43.2 percent slide.
Vancouver east apartment prices last month versus the previous April are up by 2.1 percent. April to April east side apartment sales tumble 53 percent. Year to year east side condo inventory shrivels by 57.1 percent.
March to April east side apartment sales see a 60.3 percent decrease. Month to month inventory declines 43.7 percent.