April 2016 Greater Vancouver Stats
Last month was the highest selling April on record for Metro Vancouver.
Residential property sales in the region totalled 4,781 in April 2016, an increase of 14.4 per cent from the 4,179 sales recorded in April 2015 and a decrease of 7.6 per cent compared to March 2016 when 5,173 homes sold.
April sales were 41.7 per cent above the 10-year sales average for the month. While we’re seeing more homes listed for sale in recent months, supply is still chasing this unprecedented surge of demand in our marketplace.
The sales-to-active listings ratio for April 2016 is 63.3 per cent. This is indicative of a seller’s market. Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark, while home prices often experience upward pressure when it reaches the 20 to 22 per cent range in a particular community for a sustained period of time.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $844,800. This represents a 25.3 per cent increase compared to April 2015. The benchmark price for detached properties increased 30.1 per cent from April 2015 to $1,403,200 ...
For the complete April 2016 Stats click here : REBGVStats_2016-Apr.pdf
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