VANCOUVER WEST 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.
Last month versus the previous April, Vancouver west detached prices edge up 0.9 percent. April 2020 versus April 2019 west side house sales drop 41.3 percent. Year to year inventory is down 71.1 percent.
March to April sales of west side houses see a decline of 65.1 percent. Month to month detached inventory recedes 57.6 percent.