{"id":1830,"date":"2016-05-03T10:37:00","date_gmt":"2016-05-03T17:37:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=1830"},"modified":"2016-05-03T11:42:07","modified_gmt":"2016-05-03T18:42:07","slug":"home-sales-remain-at-record-levels-across-metro-vancouver","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/05\/home-sales-remain-at-record-levels-across-metro-vancouver\/","title":{"rendered":"Last Month Was the Highest Selling April on Record for Metro Vancouver"},"content":{"rendered":"<p style=\"text-align: justify;\">Residential property sales in the region totalled 4,781 in April 2016, an increase of 14.4% from the 4,179 sales recorded in April 2015 and a decrease of 7.6% compared to March 2016 when 5,173 homes sold.<\/p>\n<p style=\"text-align: justify;\">April sales were 41.7% above the 10-year sales average for the month.<\/p>\n<p style=\"text-align: justify;\">\u201cHome buyer competition remains intense across the region,\u201d Dan Morrison, REBGV president said. \u201cWhether you\u2019re a home buyer or seller, it\u2019s important to work with your local REALTOR\u00ae to get the information you need and to develop a strategy that will help you navigate today\u2019s market.\u201d<\/p>\n<p style=\"text-align: justify;\">New listings for detached, attached and apartment properties in Metro Vancouver totalled 6,127 in April 2016. This represents an increase of 3.9% compared to the 5,897 units listed in April 2015 and a 2.4% decline compared to March 2016 when 6,278 properties were listed.<\/p>\n<p style=\"text-align: justify;\">&#8220;While we\u2019re seeing more homes listed for sale in recent months, supply is still chasing this unprecedented surge of demand in our marketplace,&#8221; Morrison said.<\/p>\n<p style=\"text-align: justify;\">The total number of properties currently listed for sale on the MLS\u00ae system in Metro Vancouver is 7,550, a 39.3% decline compared to April 2015 (12,436) and a 2.6% increase compared to March 2016 (7,358).<\/p>\n<p style=\"text-align: justify;\">The sales-to-active listings ratio for April 2016 is 63.3%. This is indicative of a seller\u2019s market.<\/p>\n<p style=\"text-align: justify;\">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 percent range in a particular community for a sustained period of time.<\/p>\n<p style=\"text-align: justify;\">The MLS\u00ae Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $844,800. This represents a 25.3% increase compared to April 2015.<\/p>\n<p style=\"text-align: justify;\">Sales of detached properties in April 2016 reached 1,979, an increase of 9% from the 1,815 detached sales recorded in April 2015. The benchmark price for detached properties increased 30.1% from April 2015 to $1,403,200.<\/p>\n<p style=\"text-align: justify;\">Sales of apartment properties reached 2,107 in April 2016, an increase of 33.4% compared to the 1,579 sales in April 2015. The benchmark price of an apartment property increased 20.6% from April 2015 to $475,000.<\/p>\n<p style=\"text-align: justify;\">Attached property sales in April 2016 totalled 695, a decrease of 11.5% compared to the 785 sales in April 2015. The benchmark price of an attached unit increased 22.1% from April 2015 to $608,600.<\/p>\n<p><a href=\"http:\/\/www.rebgv.org\/sites\/default\/files\/4.%20REBGV%20Stats%20Pkg%20April%202016.pdf\" target=\"_blank\">Last Month Was the Highest Selling April on Record for Metro Vancouver<\/a>\u00a0by REBGV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Residential property sales in the region totalled 4,781 in April 2016, an increase of 14.4% from the 4,179 sales recorded in April 2015 and a decrease of 7.6% compared to &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/05\/home-sales-remain-at-record-levels-across-metro-vancouver\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-1830","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Last Month Was the Highest Selling April on Record for Metro Vancouver &#8226; 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