REBGV's April 2020 market update video
REBGV's April 2020 market update video

Click on the image to view our April 2020 market update video featuring Board Chair Colette Gerber. Please share this video with your clients.


Predictably, home sales and listings declined in April 2020 as physical distancing requirements remained in place.

registered 1,109 homes sales on MLS
-40% year over year (April 2020 vs. April 2019)
-63% vs. 10-year average

2,313 new listings on MLS in April 2020
-60% year over year (April 2020 vs. April 2019)

9,389 total ACTIVE Listings in the Metro Vancouver
-34% year over year (April 2020 vs. April 2019)

Home prices are driven by supply and demand
measured by inventory for sales over total listings (Sales-to-Active Listings Ratio)
12% in April 2020 (suggests a 'balanced market')

"Since COVID19, our home prices have held relatively steady in our region"

Benchmark price for all housing types in the Metro Vancouver = $1,036,000
+2.5% year over year (April 2020 vs. April 2019)
+0.2% vs. last month (April 2020 vs. March 2020)

Thanks for visiting.

Please call me if I can be of further assistance to you.

Be safe and stay healthy!

Regards,
Phil
c: 604-754-6678








 

Get the data

Receive insights, analysis, and perspective from our rennie intelligence team on the Lower Mainland’s real estate market.
intelligence

Home listings up, sales down and prices starting to decrease to start the summer season

Phil Chang
Personal Real Estate Corporation
intelligence

Grosvenor Brentwood: “a paradigm shift” for Burnaby

Phil Chang
Personal Real Estate Corporation
intelligence

Metro Vancouver’s housing market has entered a new cycle marked by quieter home buyer demand and a gradual rise in the supply of homes for sale.

Phil Chang
Personal Real Estate Corporation