Demand for condominiums and townhomes continues to drive the Metro Vancouver* housing market
- 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 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.
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
- 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
- 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
- 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
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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.