<<< back to article list

Real Estate Board of Greater Vancouver Stats Pack - April 2017


Blog by BRADLEY WATTUM | May 11th, 2017


Condominiums and townhomes in high demand across Metro Vancouver

april_2017_AVERAGE_PRICE_GRAPH.pngDemand for condominiums and townhomes continues to drive the Metro Vancouver* housing market



RESIDENTIAL SALES:
  • residential property sales in the region totalled 3,553 in April 2017
  • a 25.7% decline compared to April 2016 when 4,781 homes sold 
  • a 0.7% decrease from the 3,579 sales recorded in March 2017

April sales were 4.8 per cent above the 10-year average for the month.


NEW LISTINGS:

  • new listings in Metro Vancouver totalled 4,907 in April 2017
  • a decrease of 19.9% compared to the 6,127 in April 2016 
  • a 3% increase compared to March 2017 when 4,762 properties were listed.


This represents a decrease of 19.9% compared to April 2016 and a 3% increase compared to March 2017.


TOTAL LISTINGS:

The total number of properties listed has increased 3.5% compared to April 2016 (7,550) and  3% compared to March 2017.


SALES-TO-ACTIVE LISTINGS RATIO:
  • for April 2017 is 45.5% for all property types
  • this is 2% below March 2017
  • by property type, the sales-to-active listings ratio is:
  • 26% for detached homes
  • 58.2% for townhomes 
  • 82.2% for condominiums.

Metro Vancouver is currently experiencing a Seller’s market.

MLS® HOME PRICE INDEX:

  • for all residential properties in Metro Vancouver is currently $941,100
  • a 5% increase over the past 3 months
  • 11.4% increase compared to April 2016

DETACHED PROPERTIES:
  • sales of detached properties in April 2017 decreased 38.8% from April 2016 
  • the benchmark price for detached properties is $1,516,500
  • an 8.1% increase over the past year
  • a 1.8% ncrease compared to March 2017

CONDO PROPERTIES:
  • sales condos in April 2017 decreased of 18.3% compared to April 2016
  • the benchmark price of an apartment property is $554,100
  • a 16.6% increase over the past year 
  • a 3.1% increase compared to March 2017

TOWNHOUSE PROPERTIES:
  • sales of townhome, properties in April 2017 decreaseb 10.8% compared to April 2016
  • the benchmark price of an attached unit is $701,800
  • a 15.3% increase over the past year
  • a 2.4%increase compared to March 2017

Download the full stats package by clicking here.



Areas covered by the Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, Pitt Meadows, Maple Ridge, and South Delta.