VANCOUVER WEST APRIL APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reports very dramatic differences between April 2021 and the previous April when the market abruptly halted due to pandemic jitters. Last month records a sales increase of 342.6 percent compared to April 2020. This year homes are being listed at record levels yet more supply is needed to meet the demand caused by increased space requirements, low interest rates, a high savings rate and strong economy. New listings are up 243.2 percent year to year yet the total inventory of listed properties is only up 9.1 percent April to April. Last month the annual composite value of all properties rises 12 percent.
The graph shows a 2.1 percent rise from March to April for the average Metro Vancouver condominium sale price. April 2021 compared to the previous April the overall benchmark price for an apartment is 5.9 percent higher. Year to year condo sales volume jumps 355.1 percent.
Last month compared to April 2020, the benchmark price for west side apartments is 2.9 percent higher. Vancouver west condo sales are up 296.9 percent April to April. Year to year west side apartment inventory is 213.2 percent higher.
From March to April Vancouver west apartment sales decline 18.5 percent. Month to month west side condo inventory is 8.2 percent better.