REBGV President Jill Oudil gives an update on the latest housing market statistics and explains how buyers can be successful in today's market.
Jill Oudil | President, REBGV
Demand for condominiums and townhomes continues to drive the Metro Vancouver Market. To better understand what's going on, let's look at four key indicators:
The first is home sales. REALTORS® registered 3,553 sales on MLS in Metro Vancouver last month. This is down over 25% form April last year, and is about 5% above the 10-year April sales average. Condominiums and townhomes are the most sought after property types in today's market. For the first four months of the year, they've accounted for 68% fo all residentail sales. This is up 10% from the same period last year.
The second indicator is home listings that supply the housing market demand. More than 4,900 homes were listed for sale in April. That's up 3% from March and 20% than last April.
The third key indicator is ...