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Updated: May 6, 2021

Although the number of homes sold in Vancouver throughout April did slow slightly from March, the totals still came in 343% above where they were in April 2020 and 56% above the 10-year average. Strong demand bolstered by low interest rates continues to keep available inventory low and prices high. Below is a recap of the most relevant insights, as reported by the REBGV.

- There were 4908 home sales in Vancouver for April 2021, which is a 343% increase over the same month in 2020 and 56% over the 10-year average. That said, sales were 14% lower than March 2021. Benchmark pricing increased 12% overall during the past 12 months.

- The sales-to-active-listings ratio for all homes in April 2021 was 48%. Generally prices decline when this ratio falls below 12% for a sustained period of time, and increase when it rises above 20%.

- Broken down by property type, the April sales-to-listing ratio was 37% for houses, 70% for townhomes, and 52% for condos.

- For detached homes, the benchmark pricing is $1,755,500. This is a 21% increase from April 2020 and a 3% increase over March 2021. This increase goes hand-in-hand with a 327% increase in detached home sales over the year.

- For apartments, the number of sales went up 355% from April 2020 to April 2021. The benchmark price for an apartment went up 6% to $729,600 over the past year and 2% from March, 2021.

- Sales of of duplex and townhouse homes jumped 342% when comparing April 2020 and 2021. Benchmark pricing went up 14% to $900,900 over the same time frame and 3% since March, 2021.

- Want statistics that are more specific to your area? You can always find the latest neighbourhood reports for North Vancouver, West Vancouver, Vancouver West and Vancouver East by clicking here.


- Come June 1st, it is widely anticipated that the OSFO will require borrowers to qualify at their mortgage contract rate plus two percentage points or 5.25%, whichever is higher.

This will reduce buying power for many with uninsured mortgages by between 4 and 4.5%. See more here.

- According to their recent House Price Survey, Royal LePage is forecasting that the aggregate price of a home in Canada will increase 13.5% in the fourth quarter of 2021, compared to the same quarter last year. They are predicting 13% gains for the Vancouver region specifically. See the full report here.

As always, please feel free to get in touch if you have any questions.

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14 de mai. de 2022

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