Early Edition: April’s tune: listings bloom and sales swoon

APRIL 2018 Real Estate Market Updates for Greater Vancouver

SALES in April 2018: 

• For the third straight month, year-over-year sales across Greater Vancouver were down, with the 2,600 sales in April 2018 sitting 27% below the number recorded in April 2017. 
• Having said that, sales were actually up by 3% versus one month earlier, and this compares to the typical seasonal bump of 2%. This increase was led by detached sales, which rose 12% between March and April; in comparison, townhome sales were up only 0.3%, while condo sales dipped by 3%.
 

LISTINGS in April 2018: 

• Inventories for all product types rose in the Greater Vancouver board area in April 2018, with detached listings up 18%, townhome listings up 12%, and condo
  listings up 14% compared to April 2017.
• Overall, inventory was up year-over-year by 16%; however, compared to the past-decade April average, inventory was still down 30%.
• The detached market is currently balanced. While conditions continue to remain favourable to sellers of multi-family product types, upward price pressure in the multi-family segment eased in April.
 

Click here for APRIL 2018's Early Edition 

Post edited by rennie Market Intelligence Team