Home sales remain at record levels across Metro Vancouver
April sales were 41.7% above the 10-year sales average for the month.
The sales-to-active listings ratio for April 2016 is 63.3%. 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% range in a particular community for a sustained period of time.
- The benchmark price for detached properties increased 30.1% from April 2015 to $1,403,200.
- The benchmark price of an apartment property increased 20.6% from April 2015 to $475,000.
- The benchmark price of an attached unit increased 22.1% from April 2015 to $608,600.