VANCOUVER WEST 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.
Last month compared to April 2019, the benchmark price for west side apartments repeats an annual increase of 5.4 percent. Vancouver west condo sales diminish 44.6 percent April to April. Year to year west side apartment inventory is down 58.5 percent.
From March to April Vancouver west apartment sales fall 58.1 percent. Month to month west side condo inventory recedes 46.7 percent.